An in-depth discussion about Airbnb accounting and bookkeeping using popular accounting software, QuickBooks Online & Xero. Accordingly, we provide chart of account templates, show how to properly classify transactions, discuss financial reporting, Airbnb taxes and overview how to automate Airbnb bookkeeping. We link to various business models, including property managers, property owners, co-hosts and arbitrage operators.
For Airbnb hosts and property managers who use property management software and host Airbnb listings mostly outside of the US, Airbnb is moving away from the split-fee pricing model and is moving towards what they call a “simplified fee structure”. For hosts within the US, this may be a glimpse of what may come.
If you manage or own a property on Airbnb, you can get burned at tax time if you’re not careful with how you interpret Airbnb’s 1099-K. The topic of this article is about the numbers Airbnb reports to the IRS in their 1099-K for each Host, these numbers are higher than what is actually paid out.