You can set a cancellation policy for your entire administration via your administration settings. This will then be automatically applied to any cancelled reservation.
To set up your cancellation policy, click 'Cancellation policy' in your administration settings menu. In your cancellation policy, you set at least one cancellation period in terms of days before arrival, along with a percentage of the rent that are the cancellation costs, and a set amount of administration costs, if any.
It is possible to create multiple cancellation periods with associated cancellation and administration costs. Which one of these is applied to a cancelled reservation, depends on the date that the reservation is cancelled.
Note: your Cancellation policy applies to all Types and all Channels. It is not possible to set this per type, per channel.
Including costs in cancellation fee
In the settings of a cost, you can determine how this cost relates to the cancellation policy. There are three options, at the bottom of the 'invoicing' section in cost settings:
Include in basis: the applicable percentage of the cancellation period is also applied to this cost item, and charged as part of the cancellation fee.
Copy as is: the entire price of this cost will need to be paid as part of the cancellation fee, regardless of the percentage set in the cancellation period.
Exclude: this cost will not be part of the cancellation fee in any form.