Important Billing Update: Channel Commission Collection & Transparency


  • MyVR Employee

    As you've hopefully seen in your in-product update and via email, we announced a billing update that's focused around significant changes we’re making in collecting for channel management commissions. For the long & detailed version of this announcement, you can view the product update and FAQs here.

    Here’s a high-level summary of what to expect:

    • Standardized Billing for All Channels: Prior to today, we were not collecting fees for some or all reservations sourced from Airbnb, Booking.com, and FlipKey. With this product update, will begin collecting the fee for reservations sourced from all channels.

    • New Monthly Invoice for Channel Management: Channel management booking commissions to MyVR will no longer be extracted from guest payments but aggregated into a monthly invoice. At the beginning of every month, you will receive an invoice for commissions accrued during the prior month. These invoices are also now visible in the Billing > Invoices > Commission Invoices section, and automatically collected via the card on file.

    • Improved Transparency into Fees: We’ve updated the product to provide you with a full breakdown of expenses associated with individual reservations. For every reservation in MyVR, you can now clearly see how much you’re paying for credit card processing and channel management, if applicable.

    What does this mean for you?

    Since we were not fully collecting commissions for all channels (refer to #1 above), there are some unpaid fees owed to MyVR. We are not collecting on any fees due prior to September 2018. However, we will plan to collect September and October fees on November 15th. Going forward, all commission fee invoices for the previous month will be shown and collected on the first of each month (refer to #2 above).

    Screenshots of the product enhancements related to billing:

    This is what the new Billing > Invoices > Commission Invoices view will look like when you click into a month's invoice:
    0_1541196323936_invoice.png

    This is what the Reservation view will look like if you click on a line-item from the Commission Invoice. You can download the month's transaction data in .CSV format from this modal. You can also access a downloadable report of this data using a custom date-range from Setup > Api & Data Access > Manual Exports > Reservations > Expense Transactions.
    0_1541196415463_modal_list.png

    This is what you'll see from the new "Finances" tab located in the Reservations > [Choose a Reservation] > Finances section. It outlines all fees associated with the reservation.
    0_1541196458386_expenses.png

    For the full description of this product rollout, see our product update. We anticipate some questions around this, so feel free to respond within this Community Post.


Log in to reply
 

Looks like your connection to MyVR Community was lost, please wait while we try to reconnect.