When allocating rental income to your owner accounts, would you like to send the net amount (excluding taxes) or the gross amount (including taxes)?
Simply put:
Net rental amount = excluding taxes
Gross rental amount = including taxes
This setting is intended to be permanent and SHOULD NOT be altered. Changing this setting will have a retroactive impact on all historical booking financials. Consequently, significant financial consequences will arise in the owner accounts due to this modification. Therefore, once this setting has been established, it is strongly advised not to make any changes.
Choose either to send net or gross rental income to owner statements
To apply this setting, go to:
Global Settings > Settings Assistant
Reservation & Fees Setup
Tax Settings
Send Net or Gross Amount to Owner Statement
Enable this setting to send rental income without taxes (net).
Disable this setting to send rental income with taxes (gross).
Consider these scenarios:
Property manager handles owner's taxes and does not itemize on statements: Send net rental income and check this setting.
Property manager handles owner's taxes and would like to itemize taxes on statements: Uncheck this setting.
Owner handles tax remittance: Send gross rental income and uncheck this setting.
Helpful configuration guide
