|The flow of events with the RDP Vacation Rental Owner Billing Module is as follows:
1. Vacation rental units are entered into the system.
2. Owners are assigned to rental units when appropriate. Each owner can be paid a different ownership percentage.
3. Reservations are made for all rental units, both owned and not owned. The ownership status of a given unit is transparent to the reservationist: they just make reservations normally.
4. Vacation rental owners can reserve their own unit for themselves or their guests using the Internet. They can also inquire on their calendar and other information.
5. Charges are posted to reservations normally, such as room charge, phone calls, etc. The owner will receive a portion of some of the charges, and the system tracks this.
6. Each month (or week, quarter, or billing period), the system pays owners their share of reservation charges.
7. Vacation rental owner transaction codes are defined, including what general ledger account number to use.
8. Transactions can be posted to one owner, all owners, or to all owners of a given unit type.
9. The balance due on the owner is incremented immediately.
10. All transactions appear on a variety of system reports and screens.
11. All transactions appear on the owner statement.
12. Checks to owners are printed from within the RDP system.
13. Month-to-date and year-to-date totals per owner are available.
14. Vacation rental owner 1099 Statements can be printed each year or sent on magnetic media.
15. History is maintained forever, limited only by available disk space. For example, you can reprint an owner statement from last month, or last year, or 5 years ago. |