Hospitality
FAQs
What makes hotel accounting different?
Who will I work with on my hotel’s accounting?
When you choose to work with us, you’ll have an entire team dedicated to your hotel’s success. Your main point of contact will be your Business Advisor, who oversees your monthly and weekly accounting needs. If you opt for our Accounts Payable service, you’ll also have access to a specialized Accounts Payable Invoices Team to handle those tasks for you. Your Business Advisor is supported by a team of accounting experts, all of whom are available to answer your questions and ensure everything runs smoothly. We pride ourselves on cross-training every team member on your property’s unique needs, so you never have to worry about turnover disrupting your service. Additionally, our team is Hotel Certified, with over 60 hours of specialized training and hands-on experience in hotel accounting, ensuring you receive top-notch expertise and accuracy tailored specifically to the nuances of the hospitality industry.
Why should I outsource my hotel’s accounting instead of keeping it in-house?
Running a hotel is no small task, and managing your finances in-house can often add to the pressure. With over 12 years in the industry and having helped hundreds of hoteliers, our team specializes in hotel accounting and is ready to take that stress off your shoulders. By outsourcing your accounting to us, you gain access to an entire team of experts, all with extensive experience in hotel financials. We’re not just accountants—we’re Hotel Certified, which means we have over 60 hours of specialized training in the nuances of hotel financials. We understand the unique financial challenges of the hospitality industry, from managing complex revenue streams like Property Management Systems and Point of Sale Reports, departmental payroll, and occupancy reports. This expertise ensures that your financials are accurate, up-to-date, and reflective of your hotel’s true financial health.
When you work with us, you don’t just get someone with accounting knowledge—you get an entire team that knows the ins and outs of hotel operations, and how to keep your finances running smoothly. We’ll help you focus on growing your business with confidence, knowing your financials are in expert hands.
What financial services are included in the monthly accounting package?
We’ve got you covered! Our monthly accounting service includes everything from daily revenue reports, bank reconciliations, financial statements, journal entries, and payroll management to balance sheet support, financial statement reviews, and timely tax filings. We even handle vendor payments and budget imports, ensuring your operations run smoothly and you have peace of mind knowing everything is in great hands.
How do I get started with outsourcing my hotel’s accounting, and what does the onboarding process look like?
Getting started is simple, smooth, and stress-free! Once you reach out to us, we’ll schedule an onboarding call to review your current accounting setup and discuss your specific needs. From there, we’ll create a tailored plan and timeline to ensure a seamless transition. Our onboarding process includes:
- Reviewing your current accounting setup to understand your hotel’s unique needs.
- Providing training and templates for our best practices and processes to get you up to speed.
- Connecting weekly to update you on monthly processes and ensure everything is on track.
Before you know it, your hotel will be set up with accurate, timely financials, and you’ll have more time to focus on what truly matters—running your business with peace of mind! We’ll be with you every step of the way, offering guidance and support to ensure you feel confident throughout the process.
Can you handle the financials for hotels of different sizes and franchises?
Absolutely! Whether you run a small boutique hotel, a full-service property, or a large resort, our services are fully customizable to meet your unique needs. Over the years, we’ve helped hotels of all sizes and franchises like Marriott, HIlton, Starwood, etc., streamline their accounting processes, and we’re excited to bring that expertise to your hotel too.
What accounting software do you work with?
We work with the top industry-standard accounting software to ensure a smooth process for your hotel. We’re proficient in QuickBooks, Hotel Investor Apps, and M3 Accounting, so you can be sure that we’re able to integrate with your existing systems seamlessly and handle your accounting needs efficiently.
For more answers to your most pressing hotel finance questions, check out our Youtube page.
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