Those who have an Airbnb rental business and are looking for a simple and efficient way to manage their finances will find the ideal solution in Banana Accounting Plus templates for several reasons.
With the templates, you can manage and track all expenses and income for all the rooms, apartments or houses you rent without any limits.
Moreover, you can manage the budget for your business in a flexible and personalized way. Whether you have multiple rooms, apartments or houses, you can keep track of specific income and expenses either collectively or divided for each individual rental unit. Additionally, you can set the budget according to irregular or regular deadlines such as monthly, quarterly, semi-annually or annually. This way, you can adapt the budget to your financial and business planning needs.
Through the budget feature in the templates, you can also make financial forecasts for your short-term rental business. You can gain a clear and detailed overview of your future income and plan ahead for all your activities.
Inventory management is another useful and powerful functionality offered by Banana Accounting Plus. You can keep track of all the items relevant to your business, categorizing them by room, apartment or rented house. This way, you will always be aware of what you own and easily manage the purchase or replacement of any necessary assets. With Banana Accounting Plus, you can create all the accounting files you need without limitations.
Regarding the management of income from hosting platforms such as Airbnb, Booking.com, Vrbo and others, the templates provide you with the option to record both the actual income deposited into your bank account and all other rental-related income, especially the commissions paid to the platforms. This information is crucial for tax purposes as it allows you to comply with the rules of the country where you operate your business.
For those who have an Airbnb business and are looking for a simple and efficient way to manage their finances, Banana Accounting Plus templates provide the ideal solution for other several reasons too.
There are two templates available for short-term rental hosts on Airbnb, Booking.com, Vrbo or similar platforms.
The completely free template is suitable for those without accounting knowledge who want to manage the finances of their business. The second template is designed for those with double-entry accounting knowledge and who manage a business using multiple assets and possibly different currencies:
- Free template based on Banana Accounting Plus Cash Manager.
- Double-entry and multi-currency template.
All the functionalities and features described in the free template are also included in the double-entry multi-currency template.
In each template, you can easily view some sample accounting entries.
Manage Airbnb reservations
With Banana Accounting Plus templates, you have complete control over your reservations even before they are paid. This allows you to keep track of all bookings in your file, ensuring you are always up to date on availability and key dates. You can input reservations into the system and monitor them, making planning and management of your rental properties easier.
In addition to managing reservations, the templates also allow you to record payment receipts and income. This is particularly useful for monitoring and ensuring compliance with maximum nights allowed regulations in your country. You will have an accurate record of guest stays and corresponding income, providing clear and transparent documentation for regulatory compliance purposes.
Manage Airbnb Experiences
Banana Accounting Plus templates also enables you to manage and track Airbnb experience reservations. If you offer unique experiences such as sailing trips, mountain bike tours, tastings or others, you can record these specific bookings and efficiently monitor them. You will have a comprehensive overview of your Airbnb experience activities, including booking details and corresponding income.
With Banana Accounting Plus templates you simplify the financial management of your Airbnb rental business. You can take advantage of all the features offered and gain a clear and organized view of your finances.
Manage Airbnb business budget and financial forecasts
The Budget table in all Banana Accounting Plus files provides a comprehensive tool for creating your business budget and forecasting future financials.
This feature, always accessible through the Tools > Add/Remove functionalities menu, allows you to generate cash flow statements, liquidity plans and investment plans.
For more advanced needs, you can create budgets using formulas and automatic calculations. Additionally, you can obtain monthly, quarterly and annual financial forecasts as well as projections for multiple years.
Manage inventory along with their corresponding receipts
On all files, Banana Accounting Plus allows the display of the Link column in the Transactions table, enabling you to attach supporting documents to each accounting entry.
If needed, there are other predefined columns that you can easily show in your accounting file.
Additionally, with Banana, you can add your custom columns, additional tables, and link them to existing ones. Refer to the documentation on enabling the display of predefined columns and adding columns and new tables to your file.
The ability to add new tables and create custom columns also allows you to integrate the inventory of items in the rooms and apartments you rent into your file and attach relevant documentation, which can be useful, for example, for warranty or insurance purposes.
If you prefer you can create a dedicated new file to create and manage the inventory of your rooms and rented apartments. With all Banana Accounting Plus subscription plans, there are no limits on the number of files you can create and manage.
Handle the accounting recording of the fees you pay to platforms
Using a spreadsheet like Excel or Google Sheets doesn't always allow for proper management of income received from platforms such as Airbnb, Booking.com, Vrbo or similar ones. Often, the income received in your bank account does not include the commissions you need to pay to the platforms.
These platforms deduct the commissions before making payments, but there are countries where you are required to declare the gross income for tax purposes, including the deducted commissions.
With Banana Accounting Plus you can record the gross income you receive, ensuring that everything is accurately accounted for and that your bank balance always matches the actual balance in your account.
Check the example entries in the provided templates pages to see how this accounting record is done.