Month End

End of Month Procedure

GuestPoint Owner Accounting

A step-by-step guide for completing the monthly end-of-month process

This guide outlines the checks and steps required to complete the end-of-month process in GuestPoint. Following these steps in order will help ensure trust account funds are correctly disbursed and your records reconcile before rolling over to the next month.

Step 1: Review Money Held in Trust

Check the Money Held in Trust report to confirm all funds relating to the month being processed are being disbursed.

Navigation: Reports → Audit Reports → Booking Revenue Held in Trust → View or Download

Review the report for any reservations listed under the month you are working on:

Example: Booking Revenue Held in Trust report

If any appear, open that reservation in the Bookings tab. If you would like the funds from that reservation allocated and disbursed early, select the Early Distribution tick box.

Step 2: Check Unit Statements

Navigation: Accounts → Units

Work through each unit statement using the eye (view) icon to confirm the figures are correct.

Step 3: Confirm Receipts Have Been Banked

Confirm that all receipts for the month being processed have been banked. This ensures they are marked as money in transit if they have not yet been reconciled to your bank account.

Navigation: Management → Banking

Check that there are no unbanked entries dated within the month you are processing.

Step 4: Check Reconciliations and Closing Balance

Navigation: Management → Reconciliation History

Expand the date range through to today's date to confirm that nothing has been reconciled beyond the last day of the month.

Confirm that the closing balance used in your last reconciliation matches the closing balance on your trust account statement for the month.

Step 5: Complete the End of Month Process

Navigation: Management → Transactions → End of Month

Step 1 of the End of Month wizard will automatically check the following:

• Banking has been finalised (completed in Step 3 above)

• Reconciliations are up to date (completed in Step 4 above)

• Early disbursements have been processed (completed in Step 1 above)

• Pending charges have been entered

• A broad overview of what the disbursement will look like

Step 1: Preliminary Checks

Once these checks are complete, click Start, review the figures, and proceed to roll the month over.

Step 2: End of Month Processing

Important: Please ensure your browser allows multiple file downloads. This will provide the ABA file along with your end-of-month batch reports. Store these batch reports somewhere safe for your records.

Step 6: Send Owner Statements

Navigation: Reports → End of Month → Email Statements

Tick the owners you would like to send statements to, then select Send Email.

If you have any questions at any point during this process, please don't hesitate to reach out.