Remittances

If you are an Agency sourcing a booking on the behalf of a Property Owner, then it is likely that the guest is first paying you, and you need to pay the Owner (minus your commission or fee). How much and when you do this will vary depending on your business model, however recording a Remittance against the Booking allows you to track this.

Adding Remittances against Bookings is now required by HMRC as part of the new DAC7 Legislation that comes into force in January 2025

Adding a Remittance

Simply navigate to the Booking, then scroll down to Financials, where below you'll see options for Transactions, Adjustments and Remittances; or click the "Manage Remittances" button in the bottom right hand corner.

Please contact info@staytech.co.uk if you can not see the option to add a Remittance and we can turn this functionality on for you.

Next you need to click "Add Remittance"

It's then a case of populating the fields to stipulate who you are paying, how much, on what date and a reference - for example, whether you're paying them their share of the deposit or everything in one go etc.

By default the "Paid To" field will be populated with the assigned Owner. You can change this if there are multiple Owners to the Property.

Clicking "Create Remittance" will save and record the payment against the booking, and take you to the "Remittance" screen where you can see all other Remittance payments.