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Description

To initiate a reconciliation, one should start by examining the closing balance of the General Ledger in comparison to the sub-ledger or other pertinent documents, which may include bank statements or third-party records. Any discrepancies identified between these sources must be thoroughly investigated, measured, and resolved whenever feasible by making the necessary adjusting entries in either the general ledger or sub-ledger. It is also essential to document any anomalies as reconciling items to maintain transparency throughout the process. Ultimately, the balances should align perfectly and be substantiated with all accompanying documentation linked to the reconciliation. The review process is crucial for confirming the completeness of the reconciliation, and incorporating an additional approval layer can enhance confidence in its accuracy. Moreover, establishing a robust framework along with a standardized process can significantly streamline and enhance the efficiency of the reconciliation process at the end of each month. This not only fosters consistency but also aids in identifying potential issues much earlier in the cycle.

Description

VRTrust serves as a comprehensive accounting solution tailored for managers of short-term rental properties, accounting teams, and those with expanding portfolios. This platform enables users to efficiently handle trust accounting, operational finances, owner statements, bank reconciliation, and financial reporting, all within a unified interface. The software streamlines intricate accounting processes, facilitates the matching of online travel agency payouts with bank transactions, and allows for precise tracking of revenue and expenditures for each property. Additionally, it oversees owner funds, keeps tabs on guest balances, and ensures a well-maintained general ledger. Its robust reporting features encompass profit and loss statements, balance sheets, trial balances, trust reconciliations, lodging tax reports, owner statements, and detailed financial insights at the property level. With functionalities such as bank feeds, automated reconciliation features, adjustable fees and commissions, multi-property financial reporting, ACH payouts to owners, API access, and AI-compatible workflows via MCP, VRTrust minimizes the need for manual input and enhances the accuracy of financial data for property managers across various scales. Moreover, its user-friendly interface and powerful automation tools empower teams to focus more on growth and less on administrative tasks.

API Access

Has API No 

API Access

Has API Yes 

Screenshots View All

Screenshots View All

Integrations

Airbnb No 
Authorize.Net No 
Avantio No 
Booking.com No 
Guesty No 
Hospitable No 
Hostaway No 
Hostfully No 
Lodgify No 
Mews No 
OwnerRez No 
QuickBooks Online No 
Ramp No 
Sage Intacct No 
Smily No 
Stripe No 
Uplisting No 
Xero No 
apaleo No 

Integrations

Airbnb Yes 
Authorize.Net Yes 
Avantio Yes 
Booking.com Yes 
Guesty Yes 
Hospitable Yes 
Hostaway Yes 
Hostfully Yes 
Lodgify Yes 
Mews Yes 
OwnerRez Yes 
QuickBooks Online Yes 
Ramp Yes 
Sage Intacct Yes 
Smily Yes 
Stripe Yes 
Uplisting Yes 
Xero Yes 
apaleo Yes 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

$375/month
Minimum subscription for 25 listings,
Volume-tier discounts for larger portfolios.
Free Trial No 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows Yes 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person No 

Vendor Details

Company Name

RecWise

Founded

2017

Country

Australia

Website

www.recwise.com

Vendor Details

Company Name

VRPlatform

Founded

2021

Country

United States

Website

www.vrplatform.app

Product Features

Audit

Alerts / Notifications No 
Audit Planning No 
Compliance Management Yes 
Dashboard Yes 
Exceptions Management Yes 
Forms Management No 
Issue Management No 
Mobile Access No 
Multi-Year Planning No 
Risk Assessment Yes 
Workflow Management Yes 

Product Features

Accounting

Accounts Payable Yes 
Accounts Receivable Yes 
Bank Reconciliation Yes 
Billing & Invoicing No 
CPA Firms No 
Cash Management Yes 
Cryptocurrency Support No 
Expense Tracking Yes 
Fixed Asset Management No 
Fund Accounting No 
General Ledger Yes 
Government No 
Multi-Currency Yes 
Nonprofits No 
Payroll Management No 
Project Accounting No 
Purchase Orders No 
Tax Management Yes 

Vacation Rental

Contact Management No 
Fee / Commission Management Yes 
Guest Reviews / Ratings No 
Housekeeping Management No 
Lead Management No 
Owner Statements Yes 
Payment Processing No 
Property Database No 
Reservations Management No 
Vendor Management No 
Work Order Management No 

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