Reservations: Edit Financial Fields and Formulas

How to Edit Financial Fields on a Reservation

The Hostaway Dashboard allows you to edit the Financial Fields of a reservation to reflect the actual situation. You can add, remove, or edit these fields as needed:

• These changes will affect the reservation total if they are part of the price breakdown (marked in "blue" in the image below) and financial reporting formulas, and owner statements
• These changes will not affect the reservation total price from the channel
• Manually updated fields are not automatically overwritten when there is a change or new data from channels.
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Please follow the next steps to edit a financial field:

1. Go to your Hostaway Dashboard > Reservations > Select a reservation > Click on Edit
2. Scroll down to the Financial fields and formulas > Click on the downward-facing arrow to display the information
   
   
   
   
3. From that menu, you will be able to
   • Remove a field by clicking on the "trash" symbol
   • Edit the field by clicking on the "notepad" symbol
   • Add a financial field by clicking on "+ Add Field"
     • When you click on '+ Add Field', a new window will open on the right-hand side
     • Please select the appropriate financial field and value, and then confirm
     • You will notice that a new line with the new financial field has been added to the list
       
       
       
       
4. Every time you "Add" or "Edit" a field, the system will mark those items as "Manually updated"
5. Save

How to Edit Pricing Formulas on a Reservation

Hostaway allows you to customize formulas at the reservation level for more accurate financial reporting and owner statements.

You can easily customize calculations for specific reservations that may require unique adjustments. For example, you may need to modify the property management commission based on factors such as reservation source or length of stay.

To do this, follow the steps below:

1. Go to your Hostaway Dashboard> Reservations
2. Select a Reservation > At the top right hand click on Edit
3. Click on Financial fields and formulas
4. Scroll down to Formulas > Select the formula you want to edit
5. Under the column Actions, click on the pencil
6. A new window will open with a warning
7. Edit the formula > Apply > Save

With this new feature, you can add or remove financial components (e.g., specific fields or formulas) or input a custom final value directly.

This added flexibility allows you to better meet the needs of each reservation and ensures the system supports more specific financial scenarios.

Please note that changes made at the reservation level may impact other formulas linked to it in this reservation. Also, any future updates made to formulas at the listing or account level will not apply to formulas that have been manually edited.

Financial Fields in iCal Reservations

Issue Description

When updating financial fields in an iCal reservation, the total price and invoice amounts do not automatically update. This is expected behavior.

Why This Happens

iCal reservations do not have automatic total price calculation. Unlike standard reservations, iCal reservations require manual entry of both individual financial fields and the total price due to how they are currently managed in the system.

How to Resolve

To ensure accurate pricing for iCal reservations:

1. Navigate to the reservation edit page
2. Update the individual financial fields as needed
3. Manually calculate and enter the correct total price
4. Save your changes

Important: Both financial fields AND total price must be updated manually for accurate invoicing.