Accounting for AirBnB Receipt

Support
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@QFSupport

Can someone confirm that the correct/best way to account for an Airbnb payment for multiple sales is as follows:

  • Create Airbnb holding bank account
  • Payment received to my current account from Airbnb for three rentals
  • Tag payment as a transfer from Airbnb holding account
  • Receive the money against the individual invoices using the Airbnb holding account. I.E. Cr Airbnb Holding account Cr Customer account.

That is the way I am going to do it but it would be good to have confirmation that there isn’t a better way.

Thank you

Regards and Merry Christmas
Michael

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That makes sense - the payment from the customer happens when they pay AirBnB, so the money coming in to your current account is just a transfer of funds that already belong to your business at that point.

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Thank you Ian.

Have great Christmas and Happy New Year

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