Balance Transfer to Future Reservation

Modified on: Fri, 13 May, 2022 at 6:31 AM

Applies to:          Stayntouch Cloud PMS          

Balance Transfer to Future Reservation

 

It's not uncommon for a guest to need to cancel their current reservation and move their balance (such as a deposit) to a future reservation. With these instructions, you'll be able to successfully set up payments at your hotel so you can move a guest's balance to a reservation in the future. You only need to perform steps 1 through 5 once (i.e., configuring the balance transfer in Settings).

 

Note: This action is actually different than moving charges between two in-house guests or any open account. All house account postings are always guest ledger postings. To transfer a balance from a house account to a deposit ledger, you can do so by transferring it to a future reservation.


Step 1. Configure Payment Method

  • In Stayntouch Cloud PMS, navigate to Settings > Financials > Payment Methods



Step 2. Create a New Payment Method

  • On the Settings > Financials > Payment Methods page, click + ADD NEW
  • Create a Balance Transfer payment method with the following details:
    • DESCRIPTION: Balance Transfer 
    • CODE: Enter a unique code for this payment method.
    • Select the Display Reference checkbox. 
  • Make sure to click SAVE CHANGES



Step 3. Toggle On

  • Make sure the Balance Transfer payment method is turned ON (toggle is green and right facing). 



Step 4. Set Up Charge Code

  • Now, navigate to Financials > Charge Codes



Step 5. Add New Charge Code

  • On the Charge Codes page, click + ADD NEW.
  • Create a charge code with the following details:
    • CHARGE CODE: This code is unique to your property.
    • DESCRIPTION: Balance Transfer
    • CHARGE GROUP: Payment 
    • CHARGE CODE TYPE: Payment 
    • PAYMENT TYPE: Balance Transfer 
    • FEES: Ignore asterisk; this is optional. (You don't need to make a selection here.) 
  • Make sure to click SAVE CHANGES before navigating away. 

 



Step 6. Open the Original Reservation (or Account)

  • Choose the reservation with the original balance attached to it. 
    • This is your starting point; where the guest's payment information is currently stored.
  • Open the Guest Bill page (or the Transactions tab for an account).

 


Step 7. Select the Wallet Icon

  • Click the green wallet icon to edit a charge. 



Step 8. Refund Balance

  • From the options in the pop-up window, enter the following:
    • PAYMENT TYPE: Balance Transfer 
    • AMOUNT TO PAY: Enter the negative amount you are transferring to the new reservation (e.g., -60.00). 
    • REFERENCE: Include a note that makes it clear you are transferring the current balance to another reservation (e.g., Moving balance to reservation #106513). 
  • Lastly, select the REFUND button.



Step 9. Retrieve Future Reservation

  • At this point, you will want to make sure you have created a new reservation in which to move the guest's balance. If you have not created the new reservation, please do so at this time.
    • Retrieve the guest's future reservation (i.e., the reservation you just created for the guest). 
    • Proceed to the Guest Bill page.
    • Select the green wallet icon.  



Step 10. Update Payment

  • From the options in the popup window, enter the following:
    • PAYMENT TYPE: Balance Transfer                       
    • AMOUNT TO PAY: Enter the negative amount you are transferring to the new reservation (e.g., -60.00).
    • REFERENCE: Include a note that makes it clear you are transferring the current balance to another reservation (e.g., Moving balance to reservation #106513). 
  • Lastly, select the MAKE PAYMENT button. 



Step 11. Ensure an Accurate Balance Transfer

  • This balance transfer should always appear as a ZERO balance in the Journal
    • To verify this, navigate to Financials > Journal
    • Select PAYMENTS from the tabs at the top right of the page.
    • Choose the date you performed the balance transfer on (e.g., October 13). 
    • Scroll to the BALANCE TRANSFER field with the corresponding payment details.
    • Make sure a zero appears in the Amount field (this indicates a successful balance transfer). 



Step 12. Success!

  • You are all done once you reach this step. Great job! 
  • If you need further assistance, submit a ticket to Customer Support. 

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