Operating properties on Airbnb is not a hobby — it’s a business. And like any serious business, your short-term rental portfolio needs disciplined, consistent weekly bookkeeping. Whether you manage one property or a growing portfolio across multiple states, your financial systems must keep pace with platform payouts, cleaning expenses, occupancy taxes, deposits, and payroll.
Most accounting breakdowns in short-term rental businesses aren’t caused by complexity — they’re caused by inconsistency. The goal of this checklist is to create rhythm and control in your financial operations.
Weekly Checklist (Quick Table)
| Task | Section | |
|---|---|---|
| 🗹 | Reconcile Reservations. Ensure all reservation data for each property is accurately recorded in your accounting system on a line-item basis, and confirm that each payout is properly reconciled to the corresponding bank deposit. (This process is automated with Tallybreeze.) – Read more | Channel Activity |
| 🗹 | Record Occupancy Taxes. Accurately record lodging or occupancy taxes collected from each reservation for every property, ensuring they are posted to the correct tax liability account. (This process is automated with Tallybreeze.) – Read more | Occupancy Taxes |
| 🗹 | Record Cleaning Contractor Bills. Enter all cleaning and turnover invoices from contract cleaning and laundry companies, and allocate each line item to the appropriate property within your accounting software. – Read more | Contractors |
| 🗹 | Record Maintenance Contractor Bills. Enter all maintenance bills from contract maintenance companies and allocate each line item to a property within your accounting software. – Read more | Contractors |
| 🗹 | Record New Utility & Association Bills. Enter all newly posted utility expenses along with internet, and streaming services. Also record HOA dues and any recurring association or resort fees for each property. – Read more | Properties |
| 🗹 | Record Mortgage, Rent & Management Bills. Record mortgage payments (separating principal and interest), lease payments if applicable, and any property management fees or related charges in your accounting system. – Read more | Properties |
| 🗹 | Code All Remaining Transactions. Categorize all outstanding transactions from bank and credit card accounts within your accounting software. – Read more | General Bookkeeping |
| 🗹 | Send Questions to Client. Send the client a summary of any questions or clarification needed regarding that week’s transactions. – Read more | General Bookkeeping |
| 🗹 | Prepare Payroll. Review and approve employee hours, sync them to your payroll software for processing, and update records for any new hires or pay adjustments as needed. – Read more | Payroll |
| 🗹 | Run Payroll. Obtain client approval, process payroll, and then sync the payroll system with your accounting software (or record the entries manually) to ensure accurate financial reporting. – Read more | Payroll |
| 🗹 | Accounts Payable. Review the AP report to identify outstanding bills and due dates, determine payment timing, obtain approval, issue payments, and collect W-9s from new vendors for 1099 compliance. – Read more | Accounts Payable |
| 🗹 | Accounts Receivable. Issue invoices for direct bookings made outside of Airbnb, apply and reconcile payments when received, and review the AR report to monitor outstanding balances, prioritize follow-ups, and identify any bad debts. – Read more | Accounts Receivable |
| 🗹 | Cash Flow Forecast. Maintain an updated cash flow forecast to project revenue and expenses, and model planned property acquisitions to ensure adequate funding before expanding into new properties. – Read more | Strategic |
| 🗹 | Review KPIs. Monitor key metrics to assess pricing, demand, and overall performance. Track expense ratios, guest reviews, and response times, as these directly impact visibility and profitability. – Read more | Strategic |
Weekly Checklist (Detailed)
🗹 Reconcile Reservations
Ensure all reservation activity for each property is accurately recorded in your accounting system on a detailed, line-item basis. This means capturing accommodation revenue, cleaning fees, pet or add-on fees, occupancy taxes collected, platform service fees, and any refunds or adjustments separately — not simply recording the net deposit as income. Proper line-item recording ensures your income statement reflects true gross revenue and your balance sheet correctly reflects tax liabilities and advanced guest deposits.
Each Airbnb payout typically represents multiple reservations bundled together. Those payouts should be matched against a summarized journal entry that reflects all underlying transaction components. Tallybreeze automates this process by summarizing the transactions that make up each payout and creating properly structured entries in your accounting system. These entries can then be matched directly to the deposits hitting your bank account, allowing for quick and accurate reconciliation each week. By reconciling payouts regularly, you reduce month-end close time, eliminate guesswork, and maintain clean, audit-ready books.
🗹 Record Occupancy Taxes
Accurately record all lodging or occupancy taxes collected from guests for each reservation and for every property. These taxes should never be recorded as income. Instead, they must be posted to the appropriate Occupancy Tax Payable liability account on your balance sheet, since you are holding those funds in trust until they are remitted to the state, county, or municipality.
Each jurisdiction in which you operate should be properly configured within your booking platforms so occupancy tax is calculated and collected at the time of booking. When taxes are correctly collected upfront, they do not become an out-of-pocket expense to your business — they are simply a pass-through liability. However, if taxes are not configured properly, the host may end up absorbing the cost, which directly reduces profitability.
Tallybreeze automates this process by capturing the occupancy tax collected within each reservation payout and posting it accurately to your accounting system. The software ensures the correct amount of tax is allocated to the proper liability account, keeping your income statement clean and your balance sheet accurate. By recording occupancy taxes properly each week, you maintain audit-ready records and avoid surprises when it’s time to file or remit taxes to local authorities.
🗹 Record Cleaning Contractor Bills
Enter all invoices from contract cleaning, turnover, and laundry providers into your accounting system on a timely basis. Each bill should be recorded in detail — not as a lump-sum expense — and categorized appropriately by service type (e.g., turnover cleaning, deep cleaning, linen service, restocking supplies).
When purchasing contracted services, it is critical to bring those bills into your accounting system as part of your regular workflow. Proper classification ensures your tech stack reflects true operating costs and allows you to track expense trends over time.
For multi-property operators, allocate each invoice — and each line item when applicable — to the correct property. This property-level coding is essential for accurately measuring profitability by listing. Without proper allocation, one property may appear artificially profitable while another absorbs shared costs. Detailed tracking of cleaning and turnover expenses also supports KPI monitoring, such as cleaning cost as a percentage of revenue, and helps identify pricing adjustments or operational inefficiencies.
🗹 Record Maintenance Contractor Bills
Similar to cleaning contractor invoices, enter all maintenance and repair bills from contracted service providers into your accounting system promptly and in detail. This includes HVAC service calls, plumbing repairs, appliance servicing, landscaping, pest control, handyman work, and any emergency repair visits. Each invoice should be recorded based on its individual line items whenever possible, rather than as a single lump-sum expense.
When purchasing contracted services, it’s important to bring these bills into your accounting workflow so your financial records accurately reflect operational activity. Categorize each expense by service type (e.g., Repairs & Maintenance, Landscaping, Pool Service, Appliance Repair) and allocate each line item to the correct property. Proper property-level coding ensures accurate unit-level profitability reporting and prevents expenses from being misallocated across listings.
Detailed maintenance tracking also helps distinguish between routine repairs (operating expenses) and capital improvements (which may need to be capitalized and depreciated). Maintaining clean, categorized records strengthens internal controls, improves budgeting accuracy, and supports informed decisions about pricing, reserves, and long-term asset management.
🗹 Record New Utility & Association Bills
Enter all newly posted utility bills into your accounting system, including electricity, gas, water, sewer, trash service, and any other municipal utilities. In addition, record recurring service expenses such as cable, internet, Wi-Fi, and streaming subscriptions provided for guests. These are core operating costs for short-term rentals and should be tracked consistently to monitor cost trends and margin impact.
Also record HOA dues, condominium association fees, and any recurring resort or community charges. These may include shared amenities, security, landscaping, or common-area maintenance fees. Because these expenses are often fixed and recurring, they should be entered promptly and categorized consistently each month to maintain accurate financial reporting.
For multi-property investors, allocate each bill to the correct property within your accounting system. Proper property-level coding ensures accurate profitability analysis by listing and prevents cross-subsidization of expenses between units. Tracking utilities and association costs in detail also allows you to monitor seasonality, identify abnormal spikes in usage, and make informed decisions about pricing and expense management.
🗹 Record New Mortgage, Rent & Property Management Bills
For owned properties, record each mortgage payment with proper allocation between principal and interest. The interest portion should be recorded as an expense on the income statement, while the principal portion reduces the loan balance on the balance sheet. It is important not to expense the full mortgage payment, as doing so would overstate expenses and understate equity. Also monitor escrow activity (if applicable) to ensure property taxes and insurance are properly accounted for.
If a property is leased (e.g., rental arbitrage or master lease arrangements), record monthly rent payments as a lease expense and ensure they are allocated to the correct property. Track due dates carefully, as lease payments are often one of the largest fixed costs in short-term rental operations.
If a third-party property manager is engaged, record all management fees and related charges, including percentage-based commissions, guest communication fees, maintenance coordination fees, or markups on vendor services. These fees should be categorized clearly (e.g., Property Management Fees) to allow you to analyze management cost as a percentage of gross revenue. Proper recording of financing, leasing, and management expenses ensures accurate cash flow tracking and reliable property-level profitability reporting.
🗹 Code All Remaining Transactions
Review and code all outstanding transactions from your connected bank and credit card accounts within your accounting software on a consistent weekly basis. This includes not only direct property expenses, but also overhead costs such as property management software subscriptions, channel management tools, dynamic pricing software, bookkeeping services, insurance premiums, office supplies, marketing expenses, and other operating costs.
🗹 Send Questions to Client
Send the client a concise summary of any transactions from the week that require clarification before final coding. In short-term rental operations, this may include unfamiliar vendor charges, owner reimbursements, ambiguous transfers, large maintenance expenses, personal vs. business charges, or unusual refunds and adjustments.
To prevent delays in reconciliation and month-end reporting, temporarily code unclear items to a designated suspense or “Ask My Client” account. This allows you to continue reconciling bank accounts and recording activity without creating bottlenecks in the workflow. At the end of the week, generate a report of transactions posted to that account and share it with the client in a structured format, making it easy for them to provide quick answers.
This process strengthens internal controls, maintains accounting momentum, and ensures that all transactions are ultimately classified correctly without sacrificing timeliness. Clear weekly communication also reduces cleanup work at month-end and keeps financial reporting accurate and decision-ready.
🗹 Prepare Payroll
Review and approve employee hours within your time-tracking system before processing payroll. For short-term rental operators, this often includes cleaners, maintenance technicians, guest communication staff, or on-site managers. Using a time-tracking application that integrates with your payroll system significantly reduces administrative work and minimizes errors. Ensure reported hours are reasonable, align with scheduled shifts or completed turnovers, and confirm that all employees listed are currently active.
Once hours are reviewed and approved, sync the data to your payroll software. If integration is not available, manually import or enter the approved hours and carefully verify accuracy before proceeding. Confirm pay rates, overtime calculations, bonuses, or per-turnover payments are applied correctly.
As your operation grows, update payroll records for any new hires, terminations, or compensation adjustments. This includes updating wage rates, tax withholding elections, direct deposit information, and benefits where applicable. Keeping payroll data current ensures compliance with labor laws, accurate financial reporting, and clean payroll expense allocation by property when necessary. Proper preparation each week reduces payroll errors, strengthens internal controls, and keeps labor costs predictable and well-managed.
🗹 Run Payroll
Before processing payroll, obtain formal approval from the client or business owner to maintain proper internal controls. This step is especially important for outsourced accounting arrangements. The client should review employee hours, confirm active staff members, and verify that compensation amounts appear reasonable before payroll is finalized.
Once hours have been reviewed, rates confirmed, and approval received, proceed with running payroll through your payroll provider. Ensure that wages, overtime, bonuses, reimbursements, and payroll taxes are calculated accurately and that direct deposits or checks are scheduled properly.
After payroll is processed, the results must be recorded in your accounting system. Ideally, your payroll software will integrate directly and sync the payroll journal entries automatically. If integration is unavailable, manually enter or import the payroll summary, properly allocating wages, payroll taxes, and employer contributions to the correct expense and liability accounts. Accurate posting ensures your income statement reflects true labor costs and your balance sheet properly tracks payroll tax obligations and accrued liabilities. Consistent weekly processing keeps financial records current and reduces reconciliation issues at month-end.
🗹 Accounts Payable
Prepare and review your Accounts Payable (AP) report each week to identify all outstanding bills, including vendor names, due dates, and payment amounts. This report may be as simple as an AP Aging or AP Balance Summary from your accounting system, or a more formal report if you are presenting information to an owner or investor. Its primary purpose is to provide clear visibility into what is owed and when, allowing you to make informed decisions about payment timing while managing cash flow responsibly.
Before issuing payments, verify that each bill is valid. Confirm that services were performed or goods were received, that amounts align with agreed-upon pricing, and that expenses are categorized correctly by property and service type. If you are handling payments on behalf of a client or ownership group, obtain formal approval prior to releasing funds. Approval parties should evaluate vendor legitimacy, expense necessity, and cash availability before authorizing payment.
Process payments according to established internal controls. Payments may be made via check runs, ACH transfers, vendor portals, credit cards, or bill pay platforms such as Bill.com. Because bill pay presents a significant fraud and control risk, implement safeguards such as separation of duties—ideally, the person initiating payments should not be the same individual performing bank reconciliations.
Finally, ensure compliance with 1099 reporting requirements. Any vendor providing services totaling $600 or more during the year may require a Form 1099. Collect W-9 forms from new vendors before or at the time of first payment to capture legal name, address, and tax identification number. Gathering this documentation upfront significantly reduces year-end administrative burden and ensures smooth compliance with IRS reporting requirements.
🗹 Accounts Receivable
For any direct bookings made outside of Airbnb—such as reservations taken directly, repeat guests paying by check, or corporate stays booked via email—you should generate and send a formal invoice through your accounting system. Unlike Airbnb reservations, which automatically document the transaction, receiving money directly require you to create the receivable manually to ensure revenue is properly recorded and tracked.
When payments are received—whether via ACH, check, Stripe, or another processor—apply the payment directly to the corresponding invoice in your accounting software.
Regularly prepare and review your Accounts Receivable (AR) report, which summarizes outstanding invoices, due dates, amounts owed, and guest payment status. This report provides visibility into expected cash inflows and highlights overdue balances that require follow-up. Monitoring AR consistently helps you manage cash flow expectations, enforce payment terms, and identify potential bad debts early—protecting both profitability and liquidity in your short-term rental operation.
🗹 Cash Flow Forecast
Maintain an updated cash flow forecast by projecting expected income and upcoming expenses, ensuring you understand what is coming in, what is going out, and when. This visibility is essential to maintaining liquidity and supporting growth. Additionally, model any planned property acquisitions and their projected capital requirements to ensure adequate funding before expansion.
🗹 Review KPIs
Monitor the key performance indicators that drive profitability in the Airbnb and short-term rental industry. Start with core metrics such as Occupancy Rate (percentage of booked nights), Average Daily Rate (ADR), and Revenue per Available Night (RevPAN) to measure pricing strength and demand. Track Gross Revenue, Net Operating Income (NOI), and Cash Flow to evaluate true investment performance.
Operational KPIs are equally important. Review Cleaning Cost as a Percentage of Revenue, Platform Fees as a Percentage of Revenue, and Maintenance Expense Ratios to ensure margins remain healthy. Monitor Guest Review Scores, response times, and cancellation rates, as these directly impact listing visibility and future bookings.
For growth-focused investors, analyze Booking Lead Time, Length of Stay, and Repeat Guest Rate to refine pricing strategy and marketing efforts. Reviewing these KPIs weekly allows you to identify underperforming properties early, adjust pricing dynamically, and make data-driven decisions that improve both profitability and guest satisfaction.
Final Thoughts
Consistent weekly bookkeeping isn’t about bureaucracy — it’s about control.
Operators who implement disciplined financial systems build scalable, profitable Airbnb businesses. Those who delay reconciliation and analysis often face unpleasant surprises at tax time or during cash crunches.
Always treat your properties like a business — because they are.