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What is VRTrust?

VRTrust is a comprehensive accounting platform specifically designed for managers of short-term rental properties, accounting teams, and individuals with growing portfolios. This versatile software allows users to manage trust accounting, operational finances, owner statements, bank reconciliations, and financial reports seamlessly through a single interface. The platform simplifies complex accounting tasks, ensures accurate matching of payouts from online travel agencies to bank transactions, and provides detailed tracking of income and expenses for each individual property. Furthermore, it manages owner funds, monitors guest account balances, and maintains an organized general ledger. Its extensive reporting capabilities include profit and loss statements, balance sheets, trial balances, trust reconciliations, lodging tax reports, and in-depth financial analysis tailored to each property. Equipped with features such as bank feeds, automated reconciliation, customizable fees and commissions, multi-property financial reports, ACH payouts to owners, API integration, and AI-friendly workflows through MCP, VRTrust significantly reduces manual data entry and improves the precision of financial information for property managers of all sizes. In addition, its intuitive design and powerful automation features allow teams to prioritize growth while minimizing time spent on administrative duties. Overall, VRTrust not only enhances financial management but also supports strategic decision-making for property managers looking to expand their operations effectively.

What is RecWise?

To begin a reconciliation process, one should first compare the closing balance of the General Ledger with the sub-ledger and other relevant documents, including bank statements or records from third parties. Any inconsistencies found between these sources must be carefully examined, quantified, and rectified when possible through appropriate adjustments in either the general ledger or sub-ledger. It is also crucial to record any discrepancies as reconciling items to ensure transparency in the process. Ultimately, the balances should correspond precisely and be backed by all relevant documentation associated with the reconciliation effort. The review phase is vital for validating the thoroughness of the reconciliation, and adding an extra layer of approval can further bolster confidence in its correctness. Additionally, creating a solid framework alongside a standardized procedure can greatly enhance the efficiency and streamlining of the reconciliation process at the end of each month. This practice not only promotes uniformity but also helps in early detection of potential issues within the cycle. By implementing such measures, organizations can ensure a more reliable financial reporting process moving forward.

Media

Media

Integrations Supported

Airbnb
Authorize.Net
Avantio
Booking.com
Guesty
Hospitable
Hostaway
Hostfully
Lodgify
Mews
OwnerRez
QuickBooks Online
Ramp
Sage Intacct
Smily
Stripe
Uplisting
Xero
apaleo

Integrations Supported

Airbnb
Authorize.Net
Avantio
Booking.com
Guesty
Hospitable
Hostaway
Hostfully
Lodgify
Mews
OwnerRez
QuickBooks Online
Ramp
Sage Intacct
Smily
Stripe
Uplisting
Xero
apaleo

API Availability

Has API

API Availability

Has API

Pricing Information

$375/month
Minimum subscription for 25 listings,
Volume-tier discounts for larger portfolios.
Free Version
Free Trial Offered?

Pricing Information

Pricing not provided
Free Version
Free Trial Offered?

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

VRPlatform

Date Founded

2021

Company Location

United States

Company Website

www.vrplatform.app

Company Facts

Organization Name

RecWise

Date Founded

2017

Company Location

Australia

Company Website

www.recwise.com

Categories and Features

Accounting

Accounts Payable
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
CPA Firms
Cash Management
Cryptocurrency Support
Expense Tracking
Fixed Asset Management
Fund Accounting
General Ledger
Government
Multi-Currency
Nonprofits
Payroll Management
Project Accounting
Purchase Orders
Tax Management

Vacation Rental

Contact Management
Fee / Commission Management
Guest Reviews / Ratings
Housekeeping Management
Lead Management
Owner Statements
Payment Processing
Property Database
Reservations Management
Vendor Management
Work Order Management

Categories and Features

Audit

Alerts / Notifications
Audit Planning
Compliance Management
Dashboard
Exceptions Management
Forms Management
Issue Management
Mobile Access
Multi-Year Planning
Risk Assessment
Workflow Management

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