For short-term rentals, many jurisdictions do not require licensing or strict trust accounting rules for managing short-term stays on behalf of owners. In this guide, we present an alternative accounting method for those in vacation rental property management who do not use a trust account.
An in-depth discussion about Airbnb accounting and bookkeeping using popular accounting software, QuickBooks Online & Xero. Accordingly, we provide chart of account templates, show how to properly classify transactions, discuss financial reporting, Airbnb taxes and overview how to automate Airbnb bookkeeping. We link to various business models, including property managers, property owners, co-hosts and arbitrage operators.
For Airbnb hosts and property managers who use property management software and host Airbnb listings mostly outside of the US, Airbnb is moving away from the split-fee pricing model and is moving towards what they call a “simplified fee structure”. For hosts within the US, this may be a glimpse of what may come.