By using Categories and Transactions, ClearlyBooked lets you quickly see a breakdown of your income and expenses.

Categorizing transactions can be tedious. But ClearlyBooked simplifies this process for you by automating much of the work through pre-defined Category Rules. We also allow you the flexibility to create your own Category Rules.

Here's an example of a transaction and associated Category:

Transactions
In the following example, you've created a Connection to your credit card account, and you have a $300 Home Depot credit card transaction. Here's how you could categorize the transaction:

Name: Home Depot
Amount: $300
Category: Maintenance and Repairs

Splits
You may have purchased various items at HomeDepot that fall under different Categories. To accommodate this, a transaction can be split into multiple Categories. For example, the $300 Home Depot purchase could be categorized as:
Name: Home Depot
Amount 1: $200
Category 1: Maintenance and Repairs

Amount 2: $100
Category 2: Cleaning supplies

Invoices
You can also use Categories to break down invoices into separate transactions. ClearlyBooked then uses that breakdown to track what a customer is charged and how much they have, or haven't, paid.

Charges

In the following example, the total invoice is for $1,100, but it is broken into smaller transactions with different categories:
Name 1: Rent
Amount 1: $900
Category 1: Income/Rent

Name 2: Cleaning
Amount 2: $100
Category 2: Income/Fee income/Cleaning

Name 3: Tax
Amount 3: $100
Category 3: Tax/Sales tax

Transaction Fees
An invoice can also have a fee that gets categorized separately from the charges. For example, a service booking fee charged to you by Airbnb that is associated with a reservation/invoice.

If your guests book with Homeaway, please read here to find out more about HomeAway and Credit Card Transaction Fees.

Payments
Often, your guest will make multiple payments on an invoice. Each of those payments will be allocated automatically according to the Categories you defined initially for the invoice. The allocation is based on the percentage of the charge amount relative to the total.

For example, take the reservation from above with a total amount due of $1,000. Assume the guest, John Doe, makes a 50% payment. ClearlyBooked automatically performs the following allocation of the payment by creating the following splits:
Name: John Doe
Amount: $550

Amount 1: $450
Category 1: Income/Rent

Amount 2: $50
Category 2: Income/Fee income/Cleaning

Amount 3: $50
Category 3: Tax/Sales tax

Payment Includes Damage Deposit
In some circumstances, an invoice payment should not be equally allocated across all the charges on the invoice. Instead, all or part of it should be allocated to a particular charge. An example is a damage deposit collected from a guest. Typically, the deposit is collected in the final payment instead of being incrementally collected across all payments.

Let's look at another example with a total payment due of $1,400:
Amount 1: $900
Category 1: Income/Rent

Amount 2: $100
Category 2: Income/Fee income/Cleaning

Amount 3: $100
Category 3: Tax/Sales tax

Amount 4: Refundable damage deposit: $300
Category 4: Damage deposit

John Doe makes a first payment of $550:
Amount 1: $450
Category 1: Income/Rent

Amount 2: $50
Category 2: Income/Fee income/Cleaning

Amount 3: $50
Category 3: Tax/Sales tax

John Doe makes the second and final payment of $850 for the balance and damage deposit:
Amount 1: $450
Category 1: Income/Rent

Amount 2: $50
Category 2: Income/Fee income/Cleaning

Amount 3: $50
Category 3: Tax/Sales tax

Amount 4: $300
Category 4: Damage deposit
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