Trust Accounting System - Condo Management Software
One of the most important elements of vacation rentals and condominium hotels
is trust accounting and the general ledger. RDP's philosophy is to provide
a comprehensive trust accounting system to handle all RDP related accounting, and
then interface to a third-party accounting system for all non-RDP related accounting
activity. The chart below shows which accounting activities are handled by each
system and the automatic interface between the two.
Please also see: Vacation Rental
and Condominium Hotel Overview
|RDP Trust Accounting
Data Flow - Click on any box for more details on that topic
The Trust Accounting system can interface to non-RDP accounting
system in one of two ways:
- The totals for all G/L accounts in RDP can be automatically
transferred once daily or monthly to the non-RDP accounting
system. This method provides totals for every G/L account
from RDP. The detail behind each total is held in the RDP
system. Most customers choose this method. See a
list of all accounting systems with an automatic interface.
- RDP can print a check to the management company once monthly
for the net amount due. This check from the RDP trust
accounting system can then be deposited into the non-RDP
accounting system. This method shows the net amount to
management as one total with the G/L account totals and
supporting detail in RDP.
Please also see: Vacation Rental
and Condominium Hotel Overview
Trust Summary - Generate
Check to Management
The screen below shows the monthly trust summary. At the bottom left shows
the $9,542.66 due to management. Create the check by clicking "Pay Management".
Note: Instead of generating a check to management each month, it is also
possible to transfer the full trust ledger detail to your non-RDP accounting system.
See "Sample Monthly Transfer from RDP Trust to Non-RDP Accounting System" below.
Sample Monthly Transfer from RDP Trust to Non-RDP Accounting System
The following screen shows the monthly accounting summary when the entire RDP
general ledger totals are transferred to the non-RDP accounting system.
Note: Rather than transfer the all monthly totals to your non-RDP accounting
system, it is possible to have the RDP trust system cut a check to management each
month. See Trust Summary
- Generate Check to Management.
Point of Sale Integration to Back Office Accounting
If you have the RDP Point-of-Sale (POS) interface, please see:
Point of Sale Integration to Back Office
General Ledger Inquiry & Account Detail
The screens below show the general ledger accounts, monthly totals, daily totals,
and journal detail.
|Trust Ledger Account List
Allows Inquiry on any
account number with full detail
|The monthly totals can be shown for any account number
for the current
year and all past years
|Daily totals are displayed for any month
by clicking the month
|The journal detail for any day, for any GL account is displayed
by clicking the day. The full Debit/Credit detail for any journal entry
by double clicking the row
Data Flow from Reservations,
Work Orders, and Housekeeping to Owner Statement and General Ledger/Trust Accounting
Information flows automatically from
Work Orders and
Housekeeping to the
Owner Statement and
Accounting system as follows:
Chart of Accounts
Add your general ledger (G/L) account numbers to the RDP chart of
accounts. G/L account numbers are assigned to transaction codes.
Transactions are posted to reservations, owners, travel agents, groups,
work orders, and other RDP system entities. Every transaction creates a
balanced entry in the RDP Trust G/L.
Once a day or once a month, the totals for all RDP G/L accounts are
automatically transferred to any
non-RDP accounting system, which then produces the final income
statement and balance sheet.
||Each managed property is entered into the system. Properties
can be made available for any managed rental (short or long term) or non-rental
complete description, pictures, and
inventory are available for each room/property, including virtual tours.
units are allowed.
||Owners are assigned to rental units when appropriate. Each owner
can be paid a different percentage of any reservation revenue. An owner
can own more than one unit, and a unit can be owned by more than one
owner. All owner history is
retained when units are sold, and 1099's can be printed for both the old
and new owners.
In addition to these features for whole ownership,
Reservations can be made for all units: both owned and not owned. The ownership status of a given unit is transparent to the
reservationists. Owners can
reserve units and view calendars on the Internet. All charges, deposits, and payments on
reservations automatically flow to the owner statement and trust
||Guest history and reservation history is stored forever based on storage
History and Marketing and
Rewards Program - Customer Relationship Management.
||Owners can reserve their unit for themselves or
their guests using
the Internet. They can also inquire on their calendar and other
information. Optionally, owner referral reservations can also be made
by the owner.
See Sample Internet
||Email confirmations and marketing is fully integrated into the
Customizable HTML confirmations can be emailed automatically before or
after a guest stay.
|Guest Internet Reservations
||Guests can make direct, commission-free reservations 24 hours a day,
365 days a year using the
reservations can be made using the Internal RDP reservation
system or entered directly on the Internet.
||Group reservations can be made using the Internal RDP reservation system
or entered directly on the Internet. See
Reservation and Billing Overview.
|Rates and Packages
||The system automatically calculates the rental amount based on the
reservation dates, type of unit, number of people and many other
factors. Each unit can have different rates. Packages can be
created for the guest that include items other than rent such as
golf, food or other activities. See
and Package Overview.
|Additional Reservation Charges
In addition to calculating the rent amount and package components, the
system can calculate other charges such as booking fees, security
deposits, travel insurance, cleaning fees, cancellation charges and much
more. The system can be configured to pay the owner a share of the
rental but not additional package activities or reservation charges.
|Guest Itinerary and Activities
The system can build a complete guest itinerary for activities and
services. Coupons or tickets can be printed and reconciled for
each activity. The owner can receive a portion of some of the charges and not others. See
Activities and Itinerary.
||The system automatically itemizes each reservation on the
each month or billing period. All other charges or payments received
are included on the statement.
Work Orders for
rental and non-rental units can be entered from any workstation or by the
owner using the Internet. Charges and descriptions for work orders
automatically flow to the owner statement. Work order vendors can be
paid using the system.
||Charges to the guest or owner for
Housekeeping are automatically calculated based on unit # and appear on
either the guest rental contract or owner statement. Housekeeping
scheduling and forecasting is available, as well as tracking payment to
outside housekeeping companies.
|Trust Account and General Ledger
||Transactions can be posted to one owner, all owners, or to all owners of a specific unit type.
The system immediately updates the owner's balance due and automatically
Accounting System and General
|Pay Bills for Owners
Bills can be paid for owners such as cable, electric, gas, etc.
The system can print checks to the vendors and bill the owners on the
|Over 300 Reports
Many Crystal reports are available showing reservations, work orders,
housekeeping, accounting and much more. See
and Crystal Reports Overview.
|Owner Statements and Checks
Owner Statement is created each month. It can be printed and
mailed to the owner or emailed. All past owner statements are available for the
owner to view or print securely on the Internet. Other
owner specific attachments can be included with the emailed statement
such as a copy of an invoice, work order notification or utility bill. Checks to owners are printed from the RDP system
or can be printed from a third party product.
Month-to-date and Year-To-Date
totals per owner are available.
Owner 1099 Statements
can be printed each year or distributed on magnetic media.
||Owner history is maintained forever and is only limited by available disk space. For example,
reprint an owner statement from last month, last year or
five years ago.
All work orders and housekeeping information is available for historical
inquiry and on various reports.
|Track Sold Units
When a unit is sold, assign the new owner to the unit while keeping the
old owner's information and history in the system. For example,
when a unit is sold on May 31st (mid-year), the system can print 1099
statements for the old owner and the new owner.
Please also see: Vacation Rental
and Condominium Hotel Overview.
As part of the night audit process, the RDP system tracks the following ledgers:
|Advance Deposit Ledger
||Holds the sum of all advance deposits received on future
||Holds the sum on the balance due of all guests currently
||Holds the balance due from all groups, companies, and
|Travel Agent Ledger
||Tracks all payables and prints checks to
||Includes a complete
timeshare owner accounting ledger, with working balance and full
Owner Trust Accounting.
||Work orders are tracked and checks printed with the
Work Order Ledger.
||All credit card payments are tracked and reconciled.
Related Screens and Reports:
Resort Data Processing (RDP) software has been installed since 1981 at over 1000 locations worldwide (see customer list). Please
links below to learn more about RDP software for Hotels and Resorts. If you are renting homes or condominiums
on a short term basis, please start with Vacation Rental
Overview. Timeshare properties should begin with our Timeshare Overview. Our Campground
system is also available. Our systems are fully integrated,
so all features in our hotel system are available for vacation rentals and
timeshare resorts and vice versa.
Sales for pricing information or to schedule an onsite demonstration.