4d. Debtor Ledger
LEDGER 3 - DEBTOR LEDGER
Quick Answer: The Debtor Ledger balance is populated by room charges you Send to Debtor accounts from the Room Accounts. This is typically at the Check Out stage of a booking that will be paying for their booking post-stay via a Debtor Invoice.
Before starting this article, we recommend you review Article 4a. Reading the Daily Balance Report for a basic introduction to all 3 ledgers.
Understanding how the ledgers work is not required for general operations on GuestPoint.
Understanding how the ledgers work is not required for general operations on GuestPoint.
These ledger articles are only relevant for those versed in Accounting or using Accounting Integrations.
The Debtor Ledger is populated by room charges you Send to Debtor accounts from the Room Accounts. This is typically at the Check Out stage of a booking that will be paying for their booking post-stay via a Debtor Invoice.
The only way for this ledger to initially populate is by first collecting Revenue during their stay in the Room Ledger.
Once you have Sent to Debtor the room charges for their stay, the total invoiced amount will transfer from the Room Ledger to the Debtor Ledger.
When you receive payment for your invoice from your debtor, as soon as you "Make Payment" on the outstanding invoice within your Debtor Account, the payment will allocate itself to the Debtor Ledger and balance out the revenue you sent from the Room Ledger.
WHAT EACH LINE MEANS FOR THE DEBTOR LEDGER
Opening Balance from Yesterday - The Debtor Ledger balance as at the last completed rollover.
Net Revenue - This cannot be populated by the Debtor Ledger by itself. The ledger will be populated by revenue from the Room Ledger at the "Transfer to Debtor Ledger" line.
Payments/(Banking) - Any payments you do on outstanding invoices in your Debtor Accounts. This will balance the revenue you obtained from the Room Ledger.
Payments/(Banking) - Any payments you do on outstanding invoices in your Debtor Accounts. This will balance the revenue you obtained from the Room Ledger.
Commission Paid - Any commission you paid during the "Make Payment" step on an outstanding invoice.
Write Offs - All Write Offs are recorded in the Debtor Ledger as this is the only place you can write something off.
Transfer to Debtor Ledger - This can only be populated by sending charges to a Debtor Account from a Room Account.
The revenue will transfer out of the Room Ledger to the Debtor Ledger. This line should match the same "Invoice" amount figure in the Daily Balance Report.
The revenue will transfer out of the Room Ledger to the Debtor Ledger. This line should match the same "Invoice" amount figure in the Daily Balance Report.
Transfer from Room Deposits - N/A for Debtor Ledger.
Transfer from Gift Card - N/A for Debtor Ledger
Closing Balance Carried Forward - This will be the Opening Debtor Ledger Balance of the next roll over.
EXAMPLES OF HOW THE DEBTOR LEDGER AND HOW IT WORKS BY ITSELF AND WITH OTHER LEDGERS
1. DEBTOR LEDGER BY ITSELF
The Debtor Ledger cannot populate a balance without the Room Ledger transferring charges to the Debtor Ledger.
The Debtor Ledger cannot populate a balance without the Room Ledger transferring charges to the Debtor Ledger.
Once it has a balance to work with, any "Make Payments" you do on outstanding invoices in your Debtor Accounts will lower the Debtor Ledger, indicating the amount owed to you by your guests is lower.
2. DEBTOR LEDGER & ROOM LEDGER INTERACTION (Transferring the room charges of a booking that is Checking Out for payment via a Debtor Invoice)
The Debtor Ledger requires the Room Ledger to function. The ledger cannot populate an outstanding amount without revenue charges.
2. DEBTOR LEDGER & ROOM LEDGER INTERACTION (Transferring the room charges of a booking that is Checking Out for payment via a Debtor Invoice)
The Debtor Ledger requires the Room Ledger to function. The ledger cannot populate an outstanding amount without revenue charges.
For example, if you have a booking for 2 nights at $200 each night for a total of $400, you will earn $400 revenue in the Room Ledger during their stay.
At the Check Out stage, you send the $400 total revenue charges to the booking's Debtor Account.
This transfers $400 revenue out of the Room Ledger into the Debtor Ledger, awaiting $400 payment to be made on GuestPoint when you have received the payment from your debtor.
This transfers $400 revenue out of the Room Ledger into the Debtor Ledger, awaiting $400 payment to be made on GuestPoint when you have received the payment from your debtor.
3. DEBTOR LEDGER & DEPOSIT LEDGER INTERACTION (N/A)
There is no interaction between the Deposit Ledger & the Debtor Ledger.
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