STEP 6. Create End of Month Expenses in RMS

Please ensure you have completed the below step before you Create End of Month Expenses:
Step 5 - Attach an Owner to a Property in RMS

There are two mandatory 'End of Month Expenses' that need to be setup in RMS.

1. Tariff Commission on Departure - This EOM Expense is how much commission you are charging your owners for each booking on departure
2. Long Term/Pay on Receipt Commission - This EOM Expense is how much commission you are charging your owners for long term bookings. Any bookings staying over 28 nights or more are deemed long term bookings. You have the ability to charge a different commission for a long term booking. If you don't want to charge a different amount then simply enter the same commission as your first EOM Expense
   

The Monthly Statement Fee is optional as some businesses charge this fee, whereas others will not.

Create Tariff Commission on Departure

• Select Owner Accounting > EOM Expenses from the side menu
• Click the Add button in the top right hand corner
• On the 'New EOM Expense' page, please complete the following:
  
  1. Select Room Type (If the same Tariff Commission applies to more than one property, you can bulk select multiple Room Types here)
  2. Select Area (or multiple Areas if the same Tariff Commission applies)
  3. Ensure the Effective From Date is correct (this should reflect the Owner Contract start date)
  4. The Effective To Date will automatically set for 100 years in advance
  5. Select Sundry = Management Fee 
     (if your agency has different areas of reporting, select the appropriate Management Fee Sundry)
  6. Select Type = Tariff Commission
  7. Select Sub Type = On Departure - (Percentage)
  8. Enter Amount = Commission % including GST (as per the Management Agreement)
     e.g. 15% Commission = 16.50% including GST
  9. Select the 2 x Sticky Boxes. This saves the current information to make it easier for setting up your next EOM Expense
  10. Click Save/Next
      
      
      

Create Long Term/Pay on Receipt Commission

1. 1. Select Sundry = Management Fee 
      (if your agency has different areas of reporting, select the appropriate Management Fee Sundry)
   2. Select Type = Long Term/Pay on Receipt
   3. Select Sub Type = Commission - (Percentage)
   4. Enter Amount = Commission % including GST (as per the Management Agreement)
      e.g. 15% Commission = 16.50% including GST
   5. Click Save/Next if you are setting up an optional Statement Fee and proceed to the next step
      or click Save/Exit to complete your EOM Expense setup for this Property.
      
      

Create Monthly Sundry Fee (Statement Fee) - Optional

• 1. Select Sundry = Sundry Fee (if the Sundry Fee does not exist, create it first)
  2. Select Type = Monthly
  3. Enter Amount = Monthly amount plus GST (as per the Management Agreement)
     e.g. $5 Sundry Fee = $5.50 including GST
  4. Click Save/Exit
     
     

Once the above steps are completed, you can proceed to Step 7. Create a Tariff/Rates Table in RMS