In this post, we will take a close look at such notions as Revenue and Payment and the difference between them.
Revenue from Accommodation is a theoretical value that shows what amount the hotel should get for a specific period of time.
Example: the Revenue and Occupancy report.
Revenue from Accommodation is calculated based on the room nights sold. In the screenshot, the review period is from March 1, 2022, to March 31, 2022. If a booking only partially falls in the review period, only revenue from the dates within the review period get into the report.
Revenue from Accommodation does not include the extra service fees.
Revenue from Accommodation includes the charges for early check-ins and late check-outs if they fall in the reporting period.
Let’s click on any booking that falls in the period from March 1 to March 31.
To calculate the revenue for March 9, the system takes away the cost of the included service from the Amount. Thus, the revenue =110-100=10. The report adds up the revenue from each booking on March 9 like this and goes to another date.
NB. The breakfast fee is taken away from each day of the stay no matter what day it was served.
Payment is a real value that shows what amount the hotel got for the selected period.
The notion of payment comes up in the “Payments” and “Reservations balance” reports.
Select any booking and open the “Invoices and payments” tab.
The report on Payments looks at all the settled invoices (fully or partially), the payment dates, and at the amounts paid.
If the payment date falls in the review period, the payment amount is added to the report.