GUESTPOINT OWNER ACCOUNTING
Cloud Based Owner Accounting Software
Trust Accounting can be a real pain, but it doesn’t need to be. GuestPoint Owner Accounting is a next generation trust accounting module that is revolutionising strata management.
GuestPoint Owner Accounting
The majority of your time is spent in your PMS, so why put up with a system that slows you down? GuestPoint is a powerful and easy to use system that has been helping small to medium sized properties manage their bookings for over 12 years. Now, with our next-generation Owner Accounting Module, you too can enjoy GuestPoint’s intuitive design and powerful functionality.
- Realtime Dashboard
- Equal Distribution Function
- Intuitively Designed Three-way Reconciliation
- Zero Commission, Zero Hidden Fees
- Booking Overview Tab
- Move Guests Mid-stay Without Creating More Work
- Easily Manage your Group Bookings and Group Accounts
- Easily Set-up and Manage Permanent Rental leases
- Simple Change of Ownership
- One Touch Reporting
- Quickly and Easily Hold Funds from Owner Accounts
- Save Time with our One-Click End of Month Process
Realtime Dashboard gives you all the most important information at a glance, without the need to run a report
GuestPoint Owner Accounting is designed to give you the information you need, fast.
- View your current 3 way reconciliation in real time
- View a snapshot of all your business revenue in real time
- Check distribution equality in real time
Equal Distribution function allows you to easily monitor and adjust distribution of funds amongst units
Our unique revenue-based approach delivers unparalleled accuracy in determining which units have received their fair share.
- Quickly and easily configure acceptable ranges
- Monitor distribution in real time
- Adjust distribution as required in just a few clicks
Intuitively designed 3 way reconciliation means you are NEVER out of balance
Our Owner Accounting module constantly updates your reconciliation to make sure it is always in balance.
- No need to sift through transaction reports to find mistakes
- No need for lengthy support requests just to be able to balance your books
Zero Commission, Zero Hidden Fees
Unlike other providers, GuestPoint will never charge a commission, or additional per-booking fees. We have a monthly subscription based on the number of rooms you manage, and that’s it. Simple!
- Competitive monthly subscription based on the number of rooms you manage
- Change the number of rooms you manage at any time
Booking Overview Tab lets you easily view and edit all bookings for the month
With our Booking Overview Tab you can now view the distribution status of any booking without having to open it.
- Update fees on the fly without having to redo the entire payment
- Use our handy drop-down lists to view more detailed information
Easily move guests mid-stay without creating more work for yourself
Moving a guest part way through a stay is already hard enough, and your system shouldn’t make it harder. GuestPoint Owner Accounting makes it easy.
- Booking is broken down into into nightly amounts
- Nightly charges automatically allocated to the correct unit after room move
Easily manage your group bookings and group accounts
GuestPoint PMS is known for exceptional Group Booking functionality, and GuestPoint Owner Accounting takes this to the next level.
- Add new guests and extra rooms with ease
- Split and create new room accounts with ease
- Funds are distributed to the correct unit automatically
Easily set-up and manage permanent rental leases
Creating, managing and monitoring permanent rentals has never been easier.
- Create a new permanent tenancy in seconds
- Change management of your units between regular and permanent rental with ease
- Quickly view due rent and outstanding balances
Change of Ownerships are now more simple than ever
GuestPoint Owner Accounting makes onboarding new owners simple and easy, with intuitive tools to ensure a smooth transition.
- Quickly and easily add the new owner's details
- Backdate the settlement to any day in the current month
- Funds are automatically split fairly between previous and current owner
One touch reporting and exports right where you need them
Give yourself the ability to generate, print or export documents straight from the area you are working in.
- Owner statements can be generated straight from the owner accounts section
- Trust receipts can be generated directly from booking
GuestPoint Owner Accounting allows you to hold funds for an upcoming expense without worrying about throwing out your reconciliation.
- Hold funds from owner accounts in just a few clicks
- GuestPoint Owner Accounting will automatically reconcile
Save time and headaches with our one-click end of month process
GuestPoint Owner Accounting takes the stress out of this critical task, with flexible and intuitive tools that help you solve issues fast.
- Clear and actionable warnings that take you straight to the area of concern
- Cloud processing enables other team members to coninue using PMS as you process
Frequently Asked Questions
The TrustPoint Owner Accounting Module is a specialised tool designed for property managers to handle owner trust accounts in compliance with the Office of Fair Trading (OFT) laws. It simplifies the management of owner statements, trust funds, and financial reporting, ensuring that property managers can meet legal requirements. The module integrates with GuestPoint PMS, providing accurate, compliant trust accounting and secure financial tracking for properties managed on behalf of owners.
TrustPoint is specifically designed to comply with OFT trust accounting standards, which mandate that property managers maintain clear and accurate financial records for owners. The module allows for the segregation of owner funds from operational accounts, ensuring that all revenue, expenses, and payments are correctly attributed to each owner. It also supports audit-ready reporting, making it easy to generate the necessary financial statements to comply with OFT regulations. The system tracks all transactions and maintains an accurate record of trust balances to prevent the mismanagement of owner funds.
TrustPoint securely manages owner trust accounts by separating operational funds from owner revenue, as required by law. Each owner’s income, expenses, and disbursements are meticulously tracked within the system to ensure accurate record-keeping. The module ensures that all transactions, such as rent payments, maintenance costs, and fees, are allocated to the appropriate trust account, preventing any co-mingling of funds. This feature safeguards owner funds and helps property managers remain fully compliant with trust accounting standards.
The module provides detailed, compliant reports specifically designed for trust accounting, including trust account balances, monthly owner statements, and transaction histories. Property managers can generate OFT-compliant reports that show the movement of funds within each trust account, ensuring transparency and accuracy. These reports are audit-ready, offering clear evidence of compliance with trust accounting laws and providing owners with a transparent view of their property’s financial performance.
TrustPoint automates the process of disbursing funds to property owners from trust accounts, ensuring payments are accurate, timely, and compliant with OFT laws. The module handles revenue distribution, ensuring that all income is properly recorded and allocated before payments are made. TrustPoint also allows for the management of advance payments, security deposits, and escrow funds, ensuring these are tracked and managed according to trust account regulations.
TrustPoint simplifies compliance with trust account audit requirements by automatically generating detailed reports that track the movement of all funds within the trust account. These reports are designed to meet OFT standards, making it easier for property managers to provide transparent records during audits. The system’s real-time tracking ensures that all transactions, such as payments, deductions, and fees, are accurately reflected in the trust account, providing clear documentation for auditing purposes.
The TrustPoint module uses advanced encryption and security protocols to safeguard sensitive financial data. It ensures that all trust account transactions are securely processed and recorded in compliance with OFT trust accounting laws. Regular backups and security updates are implemented to protect against data loss, while the system ensures full transparency and traceability of all transactions related to owner trust accounts.
Yes, TrustPoint is designed to manage multiple trust accounts for different property owners, ensuring that all funds are segregated and properly allocated. Whether you manage a single property or a large portfolio, TrustPoint allows you to track each owner’s income, expenses, and payments separately, maintaining compliance with OFT’s strict rules on trust accounting. The module scales with your business, ensuring compliance regardless of the number of properties or owners involved.
TrustPoint automates the reconciliation process, ensuring that all trust account balances are regularly checked and matched against bank records. This feature helps property managers stay compliant with OFT regulations, which require accurate and timely reconciliation of trust accounts. The system flags discrepancies early, allowing you to resolve issues before they become compliance risks. Regular reconciliations also provide peace of mind to property owners, ensuring that their funds are managed responsibly.
GuestPoint offers phone and email support for the TrustPoint Owner Accounting Module, including assistance with trust accounting features. Our team can help you set up the module to ensure full compliance with OFT laws, as well as provide ongoing support for troubleshooting and queries. We also offer a comprehensive Learning Centre with guides and tutorials on managing trust accounts, creating compliant reports, and handling disbursements.
Getting started with TrustPoint is easy. Our team will guide you through the setup process, ensuring that your trust accounting system is compliant with OFT regulations from day one. We offer personalised onboarding and training to help your team use the module effectively for managing trust accounts. Contact GuestPoint to schedule a demo and learn more about how TrustPoint can help you manage owner trust accounts efficiently.