Note: This article relates to a prior ledger solution in Mews Operations. If your property is using the new Ledgers feature,

• use the new Ledger activity report. The new report is specifically designed for accountants and provides a more complete view of ledger balances and transactions. Learn more in our help article Ledgers in Mews Operations FAQs.

 

If you are using the deposit function in Mews, you can track deposits for future reservations.

If you are not using the deposit function and still want to see prepaid reservations, you can learn more about how to track prepayments here.

 

Note:

• Our accounting reports now recognize deposits at check-in instead of check-out. This update only affects the consumption of newly created deposits, not deposits created before the feature release on Feb 14, 2024.
• If you want to enable the deposit feature to handle taxes on prepayments, you can switch on the Tax declaration on deposits feature in the Accounting configuration. If you cannot see any deposit options in Mews Operations, click the slider switch on to enable the feature.

 

In this article you can learn about:

• How to track prepayments created with a deposit function
• How to find a deposit ledger at the end of a specific month
  • Deposit opening balance of the month
  • Deposit ledger and the closing balance of the month

 

 

 

How to track prepayments created with a deposit function

You can track prepayments created with a deposit function using the Accounting report. To view the Accounting report in Mews Operations,

• on your Mews Dashboard, in the Finance section, click or
• go to the main menu > Finance > Accounting report.

 

1. Select the following filters:

• • Type: Consumed.
  • Mode: Detailed.
  • Group by: Accounting category.
  • Start: Today 00:00.
  • End: Very far in the future.

2. Under Transactions, Mews displays both positive and negative deposits. Negative deposits are posted and prepaid in the past but only to be consumed in the future. The sum you see is the total amount prepaid with deposits.

 

How to find a deposit ledger at the end of a specific month

You can find a deposit ledger at the end of a specific month with the opening and closing balance of that month using the Accounting report. To view the Accounting report in Mews Operations, 

• on your Mews Dashboard, in the Finance section, click or
• go to the main menu > Finance > Accounting report.

 

Deposit opening balance of the month

To find the deposit opening balance of the month:

 

1. Select the following filters in the Accounting report:

• • Type: Consumed.
  • Mode: Detailed.
  • Group by: Accounting category.
  • Start: 01 - month - year 00:00.
  • End: Very far in the future.
  • Accounting category: Select your deposit accounting categories.

2. The sum of the Net column is your deposit opening balance.

 

 

Deposit ledger and the closing balance of the month

To find the deposit ledger and the closing balance of the month:

 

1. Select the following filters in the Accounting report:

• • Type: Consumed.
  • Mode: Detailed.
  • Group by: Accounting category.
  • Start: 01 - next month - year 00:00.
  • End: Very far in the future.
  • Accounting category: Select your deposit accounting categories.

2. The sum of the Net column is your deposit closing balance.

 

You can learn more about how to track prepayments here.