Payment Management Part 1: Global Payment Management

Modified on Wed, 1 Oct at 10:11 AM

Introduction

Managing payments for vacation rentals doesn’t have to be a hassle. GuestWisely’s Payment Manager is like your cash register at a hotel front desk, centralizing all financial tasks- collecting guest payments, tracking refunds, and managing owner funds- in one intuitive platform. Integrated with the Booking Editor, it automates routine tasks like scheduling installments, ensures real-time updates across your financial records, and feeds data to accounting tools like Revenue Manager, Trust Accounting, and Payout Dashboard. Whether you’re handling a single property or a portfolio, the Payment Manager simplifies your workflow, keeps your books accurate, and powers your entire accounting system.

Payment Gateway and Traditional Payment Method

GuestWisely connects with over 30 payment gateways worldwide, ensuring flexibility for users in supported countries.

Managers configure gateways per property in Payment Gateway Settings, entering required keys to enable processing.

For users without gateways, GuestWisely supports traditional methods like bank transfers, cheques, or cash, with customizable instructions (e.g., using the [BANK_TRANSFER_DETAILS] shortcode).

To avoid conflicts, managers should avoid offering duplicate card payment solutions for the same property.

To learn more, please visit this page.

Customizable Payment Policies (Short and Long Stay Logic)

GuestWisely’s Payment Policies Settings allow managers to define clear guidelines for short-term and long-term stays:

Short Stay Logic: Set deposit amounts, installment options, and customized statements for rental agreements. Policies can be overridden on individual bookings via the Booking Editor. The Cancellation Policy defines refund percentages based on cancellation timeframes, with Airbnb integration requiring pre-defined policy options.
Long Stay Logic: Offers three options:
1. Long-Stay Not Required: For properties focused on short-term rentals.
2. Apply Long-Stay Logic: For mixed short- and long-term rentals, defining minimum stay durations, payment regularity (e.g., monthly), and optional refundable damage deposits.
3. Apply Tenant Logic: For exclusive long-term rentals, using a fixed monthly charge instead of the Rates Table.

Retained funds from cancellations can be allocated to the Owner Statement, with default or per-booking settings.

To learn more, please visit this page.

Payment Manager Navigation and Payment Tools

The Payment Manager simplifies the financial side of property management by centralizing payment tracking, processing, and reporting. Integrated with the Booking Editor, it ensures that all financial transactions-deposits, payments, refunds, and retained funds-are handled efficiently, with clear visibility for both managers and guests. Its intuitive interface and automation features reduce manual work and maintain accurate financial records.

To modify any booking-related payment information, navigate to Reservation Manager > Reservations from the left side bar, to discover the primary functions listed below. You can open the Payment Manager in either of the following ways:

Double-click on the reservation file within the Reservations folder.
Click Details (top right of the reservation file) > Manage Booking icon located next to the Edit icon; this will open the full Booking Editor in a new window. Select the Payment Manager tab.

Booking Payment Status Icons

Displayed on reservation headers, these icons indicate statuses like Pending Deposit or Payment, Past Due, Current, All Payments Complete, or Channel Booking (for external platforms like VRBO).

	Pending Deposit or Payment: Indicates that an initial deposit or payment has not yet been received.
	Deposit, Payment, or Refund Past Due: Refers to overdue payments for tentative or confirmed reservations where the payment due date has passed, but no payment has been received.
	Deposit/Payment Current: Indicates that all payments due as of the current date for the reservation are up to date, with an outstanding balance scheduled for a future due date.
	All Payments Complete: Confirms that all payments associated with the reservation, including additional service fees and security deposits, have been fully received.
	Channel Booking: Refers to reservations managed through external sources or channel managers, such as calendar synchronization or third-party platforms (e.g., VRBO), where payments are processed outside of GuestWisely.

Booking Payment Manager

Payment Schedule: tells you when payments are due based on your settings.
Payment Installments: Displays the status of each payment milestone for the booking.
Payment History: This section records every transaction linked to the booking, including charges and refunds. Important: If you use the “delete” action here, it will only remove the transaction record from the history view, it does not trigger a refund or reverse the payment.
Manage Payments: This section gives you the tools to take direct action on a guest's payment

Retained Funds for Damage and Cancellations

Specify amounts to retain for security or cancellation fees, categorized as My Funds or Owner Funds, with optional commissions or taxes. For confirmed bookings, these are reported as retained funds; for canceled bookings, they are treated as cancellation fees.

The feature can be found under Payment Manager > Manage Payments > Manually Record Payments or Advanced Payment Management.

Standard Payment Features

The Manually Collect Payment feature records payments in reports without processing them, ideal for users without a payment gateway. Managers select the currency, amount, payment type (credit/debit), and submit the record. Click on Make a manual payment: Process to add the payment details.

Advanced Payment Management (Paid Bolt-On)

Take/Hold Payment: Enter amount, customer email, card details, and notes to process or hold payments.
Refund Payment: Process refunds up to the total amount paid, with optional notes logged in payment records.
Automated Payments: After the first payment, the system automatically charges the guest’s card based on the payment schedule. Managers can manually intervene or cancel automated charges.

Restore Automated Payments: Re-enable automation via the Generate Automated Payment option.

Payment Manager Financial Insights

Payment Manager Reporting

Accessible via the Payment Manager tab, this report lets you review payment statuses, log payments, and track retained funds.

Smart filters include:

Property: View one or all properties.
Booking Date (From/To): Filter by stay dates.
Payment Date (From/To): Focus on payment dates.
Payment Method: Analyze by type (e.g., credit card).
Search Bar: Find guests or invoices quickly.

The report table shows:

Once filters are applied, your payment data is displayed in a dynamic table where each row represents an individual transaction. The columns in the table provide a well-rounded financial snapshot, helping you verify, reconcile, and act on booking-related payments effectively.

Guest Details: Identifies the guest associated with each transaction-helpful for direct communication or issue resolution.
Property: Indicates the specific unit linked to the payment, supporting property-level financial management and reporting.
Arrival / Depart: Displays the check-in and check-out dates, ensuring payment timelines align with actual guest stays.
Grand Total: Shows the full amount of the transaction, giving a clear view of each booking’s financial value.
Amount Outstanding: Highlights any remaining balance, allowing teams to identify and follow up on unpaid dues.
Payment Status: Reveals whether a payment is completed, pending, or overdue, enabling proactive financial control.
Lead Source: Captures where the booking originated (e.g., direct website, OTA), offering valuable insights for marketing and sales performance tracking.
Record Payment: A convenient action button that lets you log payments directly, ensuring the system stays up-to-date without switching tabs.
Retained Funds: Lists any withheld amounts-such as security deposits-helping you manage deductions for damages or additional fees.
1st / 2nd Payment Amount Due: Breaks down installment amounts due, supporting structured payment plans and clear guest expectations.
Damage Deposit Amount Due: Displays the unpaid security deposit amount for a booking.
Due Date: Marks the deadline for each payment, keeping collections on track and helping avoid missed payments.

Additionally, the interface offers tools to download (Excel), print, or access help.

This data feeds the Revenue Report, Expense Report, and P&L Report, ensuring comprehensive insights.

Reconciliation Report

Found in the Reconciliation Report tab, this report compares Payment Manager data (e.g., €1,150 payment, €300 refund) with bank records for monthly reconciliation.

Smart filters include:

Property: View one or all properties to reconcile by location or unit.
Payment Date (From/To): Filter transactions within a specific date range.
Filter Button: Apply selected criteria to update the report.
Search Bar: Find entries by invoice number or guest name.
Search Icon: Execute the search based on your input.

The report table shows:

Payment Date: Shows the exact date a payment was processed, helping you track the timing of each financial entry.
Payment Received: Displays the transaction amount. Positive values indicate payments received from guests, while negative amounts reflect refunds or deductions. This gives you a quick overview of the net financial activity.
Invoice Number: Provides the unique identifier linked to the invoice, making it easy to verify payments against your billing system.
Receipt/Credit Note Number: Lists the reference number for any receipts or credit notes issued, which is useful for documentation and audit purposes.
Booking Number: Connects the transaction to a specific booking, allowing you to trace funds back to their origin in your reservation records.
Guest Name: Identifies the guest involved in the transaction, which can assist with communication or follow-up when needed.
Property Name: Indicates the property associated with the transaction, supporting property-level financial reporting and accuracy.

Downloadable to Excel, it verifies transactions feeding Trust Accounting and Accounting Reports, like cross-checking your cash register with bank deposits.

Automated Records Report

The Automated Records tab tracks auto-recorded payments (e.g., deposits, refunds).

Smart filters include:

Property: View one or all properties to manage payments by location or unit.
From/To Dates: Set a custom date range to filter transactions.
Status: Focus on entries by selecting a specific transaction status (e.g., Pending, Completed).
Filter Button: Apply selected criteria to refresh the report.
Search Bar: Find entries by party name or reservation ID.
Search Icon: Run the search based on your input.

The report table shows:

Guest Details: Shows the contact information for the guest involved in the transaction, which can assist with communication or follow-up when needed.
Property Name: Indicates the property associated with the transaction, supporting property-level payment oversight and accuracy.
Stripe/Authore.Net ID: Provides the unique identifier linked to the payment processor, making it easy to verify transactions with the payment gateway.
Created Date: Displays the exact date a transaction was initiated, helping you track the timing of each payment entry.
Arrival: Shows the check-in date of the booking, allowing you to align payments with guest stays.
Due Date: Marks the payment due date, assisting in managing deadlines and ensuring timely collections.
Billed Date: Lists the date the transaction was billed, supporting reconciliation efforts with billing cycles.
Amount: Displays the transaction amount, providing a quick overview of the financial activity.
Transaction ID: Offers a unique reference number for each payment, enabling precise tracking and reporting.
Status: Indicates the current status of the transaction (e.g., "Pending"), allowing you to monitor progress and take action as needed.
Note: Shows when the payment was last updated (date/time).

Exportable to Excel, it ensures automated payments sync with Cashflow Manager and Revenue Manager, like an auto-updating ledger.

Connections to Accounting Tools

The Payment Manager is the starting point for managing guest payments and related expenses, sending that data to all other financial tools through the Booking Editor.

Payments and expenses from Payment Manager feed Revenue Manager (revenues), Expense Manager (costs), Cashflow Manager (payment status), Trust Accounting (owner balances), Payout Dashboard (remittances), and Accounting Reports (insights), with Lock Settings protecting finalized data.

Revenue Management: The Payment Manager collects guest payments, which the Revenue Manager records as income. The Booking Editor connects them so every payment becomes part of your revenue reports. It’s like taking cash at a hotel front desk and logging it in your earnings ledger.
Expense Management: When guests pay for services, the Payment Manager logs it, while the Expense Manager tracks what it costs you to deliver them. They work together through the Booking Editor to reflect accurate costs in reports. The Payment Manager is like collecting cash, and the Expense Manager is your receipt book.
Cashflow Manager: Guest payments and business expenses from the Payment Manager update the Cashflow Manager to show what’s paid and what’s owed. The Booking Editor links everything. It’s like using your wallet to pay bills and a budget app to track your money.
Accounting Reports: Payments from the Payment Manager feed into financial reports via the Booking Editor, showing income, expenses, taxes, and profit. It’s like your cash register feeding into a dashboard that summarizes your financial health.
Trust Accounting: The Payment Manager collects money owed to property owners, and Trust Accounting tracks how much you still owe them after expenses. The Booking Editor links these values. It’s like collecting rent and updating the owner’s savings account.
Payout Dashboard: Trust Accounting uses Payment Manager data to calculate what to pay owners. The Payout Dashboard then handles the payment and updates records. It’s like writing a check to the owner using funds tracked in their account.

Integration with Booking Engine and Communication Tools

The Payment Manager works with the Booking Engine to reflect pricing, services, and discounts in payment schedules, like a front desk updating guest bills. It supports:

Automated Communications: Sends payment requests and confirmations via email.
Booking Engine: Shows payment methods (e.g., Credit Card, PayPal) on the Guestwisely Booking Engine.
Payment Links: Go to Short Codes > Online Payment to find the links used for Online Booking or Payment-related actions. These links can be embedded in emails or rental agreements for secure guest payments.
- Rental Agreement Payment Links: Payment links are automatically included in your rental agreements, making it easy for guests to pay securely.
- Email Payment Requests: Use dedicated shortcodes to send secure payment links via email, allowing guests to complete transactions quickly and safely.
Advanced Payment bolt-on: Enables features like storing guest credit card details, automated payments, and processing refunds, offering greater flexibility and control.

These integrations update Payment History and Revenue Manager, ensuring smooth guest interactions and accurate records.

To learn more, please visit this page.