The next policy to setup is the Payment Policy.
First, you need to choose when you would like the deposit to be due for a booking. You can choose to have the deposit paid at the time of booking, upon arrival at your property, or a chosen number of days prior to arrival.
Next, you can select what type of deposit you wish to have. You can have a percentage of the total or nightly rate, a fixed amount, or a weekly amount. Select which one you want, then enter the value of the deposit you wish to apply.
Refer to this table for definitions of each deposit type:
A percentage of the total
|This refers to a percentage set by the property manager taken from the total sum of the booking. The payment amount will differ depending on the size of the booking.|
A percentage of the nightly rate
|This refers to a percentage set by the property manager taken from the sum of the first night's rate.|
A fixed amount
|This refers to an amount set by the property manager. The deposit payment amount will remain the same no matter the size of the booking.|
A weekly amount
|This refers to an amount that equals the weekly total (7 nights) of the booking as set by the property manager.|
Then, you need to decide what percentage/amount you require from the guest.
Outlined below is an example of what the payment amount would be given these criteria:
|Stock Unit Nightly Rate||NZD 100|
|Accommodation total||NZD 1000|
|Number of Nights||10 nights|
|At the time of booking||Upon Arrival||X days prior to arrival (e.g. 3)||Upon Arrival||X days prior to arrival (e.g. 3)|
|A percentage of the total||10%||NZD 100||NZD 900|
|A percentage of the nightly rate||10%||NZD 10||NZD 990|
|A fixed amount||NZD 50||NZD 50||NZD 950|
|A weekly amount||NZD 700||NZD 700||NZD 300|
Next, you can select when the remaining balance of the booking is due. You can choose either upon arrival or a chosen number of days prior to arrival. If you use a negative value (e.g. -3) in the "days prior to arrival field", this will mean the balance is payable at departure.
You can then choose to offer a pay in full discount. If you choose to do so, enter the percentage you wish to offer as a discount.
Once complete, the Payment Policy will be displayed at the bottom of your ResBook Calendar under [Booking and Payment Policy] as highlighted below:
Watch this short video to find out more information: