Omniboost has created a special flow for its Spanish clients because of legal requirements in Spain. One very important thing in Spain is that all bills and invoices need to be present in the administration. Additionally, Spanish hotels are required to create an invoice for every payment that they receive.
When we take this into account, we could just follow an accounting integration based on closed bills. The downside of this flow would be that revenue is posted on closing date and not on consumption date. This would not reflect a correct insight in your P&L. Therefore, we have created a hybrid integration with both closed and consumed entries. Below the different aspects of this hybrid flow are explained.
Consumed revenues
The Omniboost accounting connection includes the consumed revenue amounts in the files. These revenues are posted on the Credit side. In the files, this can be seen in different ways. Either a minus sign is included before the amount, or separate columns for debit and credit amounts are used. Also, a separate column in which a D or C is entered is a possibility.
To balance these revenue entries, a suspense account is used. This suspense account is called 'pending invoices' or 'Guest ledger account'. All revenue amounts are posted on the Debit side of this ledger.
VAT
VAT amounts are posted based on the VAT on bills and invoices. Most of the time, the VAT amounts are posted to specific ledger account codes that the client provides to Omniboost. What you often see, is an extra column for “base amount”. That is the amount that the VAT is calculated on.
Accounts receivables and Debtor numbers
As mentioned before, the Omniboost accounting integration includes all the bills and invoices in the file. There are a couple of ways to deal with the corresponding debtor numbers:
One central debtor code/number is used (this is the preferred way of most of our clients).
A value as entered into a certain field in the customer profile is used as a debtor code/number. For example, the Accounting Code field.
The accounting integration creates debtor codes/numbers based on a prefix and the client/company number from MEWS.
The Omniboost accounting connection posts all individual debtors on the Debit side in the file. To balance the debtors, the integration posts the same amount Credit (to the suspense account for pending invoices / guest ledger account).
The thought behind this is as follows. When revenue is consumed, it is parked on a suspense account. Revenue needs to be paid/invoiced. The suspense account is thus building up a Debit balance. When the client checks out, a bill or invoice is created. At that moment, the suspense account is deducted and the balance for that client on the suspense account is cleared. The money the client owes the hotel is basically transferred from the suspense account to the accounts receivables.
Payments
In theory, the payments (as shown in the MEWS Accounting report, run on a closed basis) should match the payments of the consumed MEWS Accounting report in MEWS because for every payment the client receives, the client also needs to create an invoice. This is due to accounting requirements in Spain. Most of the time this is the case. However, just to be sure, the Omniboost accounting integration takes the closed payments from the MEWS Accounting report because these closed payments will match the bills and invoices. The ledgers for the payment methods are posted Debit, and the debtor is posted Credit.
Deposits
Most of the time, the Omniboost accounting integration adds the deposits as well. These are also based on closed bills. Again, including deposits is not a problem because a Spanish hotel needs to create an invoice for every payment that is received. Therefore, when this payments is a payment for a future stay, the client simply invoices a deposit amount. At that moment, the accounting integration will post the deposit ledger on the Credit side (as it is a liability). Then, when the guest checks out, the deposit is deducted from the total bill and the Omniboost accounting integration will post the deposit Debit.