Add and use Room Revenue in the Reservation Folio

Juss Reyes

Updated May 28, 2024 15:59

One of the core functions of a property management system is to document/account all the revenue related to your guests reservations. This article offers an overview of the Room Revenue use, as well as explain how to add room revenue to the Reservation Folio.

Overview

There are different types of revenue in Cloudbeds PMS:

Cancellation: should be posted when a reservation is canceled outside the "free-cancellation" period, so the reservation gets the credit and debit columns balanced on the folio tab.
No-show: should be posted whenever a guest doesn't show up to check-in on the arrival date, so the reservation gets the credit and debit columns balanced on the folio tab.
Manual: can be used at any occasion in which the property needs to add a charge to the guests bill that is not related to any other items or services (example: to correct a room rate that was posted with a lower amount than expected)

How to add Room Revenue

Step 1 - Access the Reservation Folio

Look for the corresponding reservation. You can use the search bar in the Top menu of your Cloudbeds account
Click on the Folio tab
Open the folio to add the payment record
Click Add/Adjust Charge
Click on Add Room Revenue

Learn more about the Reservation Folio.

Step 2 - Add details

Choose the revenue type (it can be related to a cancellation charge, a no-show charge or manual)
Select whom to assign revenue
Select the applicable folio
Specify the amount to be posted
You may choose a specific date/time for that revenue to be posted on, or to post with current date and time
Select whether any taxes/fees should apply, or to set revenue as default (By selecting this system, you are indicating that you would like the same taxes and fees added as part of the revenue transaction)
Add any relevant notes
Click to Continue

Step 3 - Review room revenue

The recently added room revenue will appear in debit section/column of the Reservation Folio:

Frequently asked questions

Why shouldn't I simply add those charges as an item on my system?

On a manager level, the items are accounted to Product Revenue, while the Additional Room Revenue will be accounted on the Room Revenue section of the Daily Revenue Report, making it easier for managers and owners to track their revenue in a more organized way.

What if I don't charge a cancellation/no-show fee?

Some properties have different cancellation/no-show policies that may or may not require the use of this functionality.