HOTEL ACCOUNTING

Hotel Accounting

CFO, Accounting Manager, Finance Manager, Bookkeeper

It is no secret that hotel finances and accounting have unique sets of challenges.  Invariably, they all tend to demand attention when time and resources are already stretched thin.  This high-demand environment requires hotels to be nimble, educated, and equipped with the latest technology to streamline process and drive financial performance.

Unfortunately, many hotel owners and managers tend to be slow in adopting new technology, and upgrading accounting systems, to match the changing demands placed on the accounting team.  In this environment, hotel accounting executives have little patience for card payment processing relationships that waste precious time, interfere with continuous cash flow, or have service issues that interrupt the basic card processing functions.

 

Hotel accounting executives need to be focused on big-picture accountabilities like:

  • Enterprise resource planning decisions
  • Staffing and labour cost reporting
  • Multi-level data management
  • Managing capital and operating budgets
  • Managing cash flow and bank transaction integration
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When it comes to card payment processing and revenue capture, hotel accounting executives need a reliable and responsive partner that can help them ensure the key essentials are in place, including answering questions like:

  1. Is the card payment solution tailored to my specific needs?
  2. Does it provide the options needed to scale? 
  3. Does the technology provide fast, reliable and secure processing at a competitive cost?
  4. Does the reporting system provide 24/7 transparent tracking for both the big and small picture?
  5. Does the system integrate seamlessly with the core accounting and property management systems?
  1. Can my payment partner keep me current with regulatory changes, and help me manage payment processing risks?
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