Product BookingTrust Software
product-logo

BookingTrust Software

Claim profile
By BookingTrust
unverifiedUnverified

Keep things simple

redistributor-image
Craig SaundersFounder
Get Contact Details
Or
Contact vendor representative through Exploretech

Advisor

widget-blur
Advisory Services

Reach out to one of ExploreTECH`s experts

advisor-image
Li Hawkins

Project management & innovation

About Li Hawkins

Overview

Launch year

2017

rocket-lunch-logo
Compatible integrations

9

brand-logo

Description

BookingTrust Software is designed to streamline booking processes and enhance guest management within the hospitality sector. Our main function revolves around providing a user-friendly platform that optimizes reservation management and guest interactions, ensuring seamless operations. Ideal for independent hotels, chains, small groups, and travel management companies, BookingTrust Software caters to businesses aiming to improve efficiency and guest satisfaction. Implementing our technology is straightforward and typically does not require extensive integrations, integrating smoothly with existing property management systems and operational tools. This simplicity allows hospitality businesses to quickly leverage BookingTrust Software to enhance booking accuracy, streamline operations, and deliver exceptional guest experiences with ease.

Details

Infrastructure detailsCloud
Support languagesEN
CategoryFinance and payments
SubcategoryFinancial Accounting
Integrations
IndustryHospitality
This solution is suitable for:Medium and small hotel groups, Serviced apartments and extended-stay properties, Vacation rental and short stay rental management companies, Hospitality management companies, Asset management companies

Screenshots, videos and other resources

Product features

Customer Management

Finance and Accounting

Finance Reporting And Analytics

Interfaces and Optimization Financial Accounting

Multi-Branch

Multi-Currency Handling

Supplier Management

Technical & Security Accounting Software

Support Level

Integrations

Filter:

Clear filter
product-image

OPERA Cloud Property Management

verifiedVendor verified
Vendor: Oracle HospitalityCategory: Hospitality operationsSubcategory: Property Management System (PMS)
product-image

OPERA 5 Property Management

verifiedVendor verified
Vendor: Oracle HospitalityCategory: Hospitality operationsSubcategory: Property Management System (PMS)
product-image

Uplisting

unverifiedUnverified
Vendor: UplistingCategory: Short term/vacation rental solutionsSubcategory: Short Stay/Vacation Rental Property Management System
product-image

Avantio

unverifiedUnverified
Vendor: AvantioCategory: Short term/vacation rental solutionsSubcategory: Short Stay/Vacation Rental Property Management System
product-image

Hostify

unverifiedUnverified
Vendor: HostifyCategory: Short term/vacation rental solutionsSubcategory: Short Stay/Vacation Rental Property Management System
product-image

Guesty

unverifiedUnverified
Vendor: GuestyCategory: Short term/vacation rental solutionsSubcategory: Short Stay/Vacation Rental Property Management System
product-image

365Villas

unverifiedUnverified
Vendor: 365VillasCategory: Short term/vacation rental solutionsSubcategory: Short Stay/Vacation Rental Property Management System
product-image

Newbook PMS

unverifiedUnverified
Vendor: NewbookCategory: Hospitality operationsSubcategory: Property Management System (PMS)
product-image

Booking Automation Channel Manager

unverifiedUnverified
Vendor: Booking AutomationCategory: Commercial and distributionSubcategory: Channel Manager

Technical specifications

Specifications
Configurations

The onboarding process for BookingTrust Software is designed for simplicity and efficiency. We begin by understanding the specific needs of your hospitality business and tailor our setup accordingly. Our dedicated team guides you through the seamless integration of our software into your existing systems, ensuring minimal disruption. Comprehensive training sessions are provided to equip your staff with the knowledge to effectively utilize BookingTrust Software for streamlined booking management and enhanced guest interactions. Continuous support is available post-launch to address any queries and optimize system performance, ensuring a smooth transition and maximizing operational effectiveness in delivering exceptional guest experiences.

Scalability

BookingTrust Software offers robust scalability to accommodate the varying needs of hospitality businesses, whether managing a single boutique hotel or a global chain. Our platform is designed to seamlessly expand alongside your operations, supporting increased booking volumes, diverse guest management needs, and additional property locations without compromising performance. This scalability ensures that BookingTrust Software continues to deliver optimal efficiency and enhanced guest experiences, empowering your business to grow and adapt to evolving industry demands with ease and reliability.

Fee structure

Pricing:

Pricing details available upon request directly from the vendor

Buyers

FAQs

How does BookingTrust ensure compliance with accounting regulations

BookingTrust ensures compliance with accounting regulations for short-term holiday accommodation and owner room hotels through several key features and practices: 1. The software is specifically designed to comply with Australian and New Zealand accounting regulations, having passed numerous audits in these countries. 2. It maintains a clear separation between trust/host accounts and operational funds, which is a crucial aspect of trust accounting compliance. 3. BookingTrust automates the calculation of monthly fees, charges, and their distribution, ensuring accurate and timely financial management. 4. The platform provides detailed record-keeping capabilities, automatically pulling booking and payment information from Property Management Systems (PMS) and payment gateways. 5. It enables regular reconciliation by syncing data daily and allowing manual syncing at any time, which helps in identifying and rectifying discrepancies promptly[3]. 6. The software generates comprehensive reports, including trial balances, monthly revenue, and management income breakdowns, which are essential for compliance and auditing purposes. 7. BookingTrust handles complex fee structures, including global and property-specific fee configurations, ensuring accurate allocation and transparency in financial transactions 8. The platform tracks security deposits and additional charges, maintaining clear records of all transactions related to each booking. 9. It provides detailed owner statements with transparent fee breakdowns, promoting accountability and clarity in financial reporting. By incorporating these features and adhering to strict accounting principles, BookingTrust helps property managers maintain compliance with relevant regulations while streamlining their financial management processes.

What is Host Accounting

This is where you don’t have any legislative requirements to be audited each year, and you don’t have to produce 3-Way or Trial Balance reports. However, all the accounting requirements are still valid, you are looking after other people's money, so every cent needs to be accounted for on a daily or monthly basis. We like to call this ‘Compliance Accounting’, where the property manager is committed to ensuring that all funds are correctly accounted for. So no matter whether you run a Trust or a Host account, BookingTrust is the only accounting software that directly interfaces to your Property Management Systems (PMS) and is specifically designed for only short term accommodation providers.

What is Trust Accounting

This is a bank account that is used exclusively for money received or held by a real estate agent for or on behalf of another person in relation to a real estate transaction and is not to be used to hold monies for any other purpose. In some states of Australia and the US, this is legislated and yearly audits are conducted to ensure that every Property Manager adheres to correct accounting practises. The software used for these businesses must be compliant in order to pass the year audit. (Yes, BookingTrust is compliant). A trust account must be reconciled to the bank account and every cent accounted for and logged. A trial balance is required, as well a 3-way balance report at the end of each month. There is complete onus on the property manager to ensure that every cent is accounted for and at the end of each month, the owners are paid and the management fees transferred to the ‘Trading account’. There is no business operating money in the Trust account, it is only owner money. Each owner effectively has their own account and all the accounts are reconciled against the daily bank account total.

Do i need a trust account to use Booking Trust?

No,you just need a separate business account and either a Trust or a Host account is required to use our software.

Can I just use the Software without Account Management?

Yes, you can just use the Software. In this case you will still have to do all your own data entry, bank reconciliations, etc.

What is a PMS?

PMS stands for Property Management Systems, such as NEwBook, Guesty, Hostify, YesBookit, 365 Villas, Uplisting, Hostaway, MrVr and more.

What level of accounting knowledge do i need?

Familiarity with Trust Accounting regulations is important if you're in a regulated state, otherwise basic property accounting is a big advantage. We have qualified property accountants to help out if you're still starting out and need to be shown the ropes.

Can BookingTrust automate the calculation of monthly fees

Yes, BookingTrust can automate the calculation of monthly fees. The software automatically calculates all monthly fees, charges, and their distribution at the end of each month[1]. This automation allows for easy management of complex fee structures, ensuring accurate and timely financial processing for short-term holiday accommodation and owner room hotels[1][3]. Key aspects of BookingTrust's fee automation include: 1. Automatic calculation of fees and charges at month-end 2. Handling of complex fee structures with global and property-specific configurations 3. Integration with Property Management Systems (PMS) for seamless data flow 4. Ability to set up various fee types, including percentages of income, flat fees per booking, room night, or per person[1] This automated approach to fee calculation saves time, reduces errors, and ensures transparency in financial management for property managers and owners[3]. Yes, BookingTrust can automate the calculation of monthly fees. The software automatically calculates all monthly fees, charges, and their distribution at the end of each month[1]. This automation allows for easy management of complex fee structures, ensuring accurate and timely financial processing for short-term holiday accommodation and owner room hotels[1][3]. Key aspects of BookingTrust's fee automation include: 1. Automatic calculation of fees and charges at month-end 2. Handling of complex fee structures with global and property-specific configurations 3. Integration with Property Management Systems (PMS) for seamless data flow 4. Ability to set up various fee types, including percentages of income, flat fees per booking, room night, or per person This automated approach to fee calculation saves time, reduces errors, and ensures transparency in financial management for property managers and owners

Whats the best way to contact bookingtrust?

If you are a current client you can either use our Technical Assistance feature to get in touch with your query, you can email support, use our direct chat box or the direct phone number provided by our staff.