Understanding your Payment Status is essential for keeping track of financial reports inside your RentalWise account. The Payment Status reflects the current payment information for each booking, helping you stay in control of your cash flow and reporting.
Because different Connected Channels handle payments differently, the Payment Status you see will vary depending on whether you act as the Merchant of Record or not. (For detailed differences between each OTA, click HERE.)
Types of Payment Status
Every booking within your account will fall under one of three statuses:
PAID – The booking has been fully paid.
PARTIALLY PAID – Only part of the booking has been collected.
UNPAID – No payment has been collected yet.
Automatic Updates via Channel Manager
For channels where you are the Merchant of Record, your connected Payment Method can automatically:
Update the payment status (Paid, Partially Paid, Unpaid).
Charge guests according to your payment schedule.
Process refunds or void payments directly.
This ensures your financial reports are always up to date without the need for manual adjustments.
Manual Updates for Non-Merchant Channels
For OTAs where you cannot act as the Merchant of Record (e.g., Airbnb), payment details are not shared via API. This means you will need to:
Manually update the Payment Status.
Create the payment entry in your account.
Example: You can add an Offline Payment method named “Airbnb” and select it when updating the Payment Status. This way, your booking exports will clearly show that the payment came from Airbnb.
How to Add a Manual Payment & Update Payment Status
To manually record a payment:
Open the booking and scroll to the Payment Schedule section.
Click Create Payment.
In the pop-up, select Offline Payment (e.g., Airbnb) and click Save.
The booking’s Payment Status will update instantly, keeping your reports accurate.
Why Payment Status Matters
Provides clear and accurate financial reporting.
Helps with cash flow management and forecasting.
Keeps exports and records transparent across all channels.
By staying on top of your Payment Status, you ensure that your business runs smoothly—whether payments are automatic or require manual input.