Failed Payments- Not to become reservations on booking engine site

We've run into many issues where FAILED Credit card payments turn into calendar reservations and block the calendar. We have tried to manually audit payments weekly to make sure they are all paid, but this involves manpower and time. We have also set up an automation if a payment fails, to have the guest redo the payment using the guest portal link as Hostaway claims this is the only way around this. We would like there to be a function where a booking is CANCELLED automatically with a FAILED Payment within 24 hours.

Thanks