Benefits of Hotel Accounting Software

Top 9 Benefits of using Hotel Accounting Software

Irrespective of industry, the importance & significance of Automated Accounting is always there. Because, it’s a phenomenon that plays a vital role in decision making.

Holistically, accounting has moved on eventually from the traditional way of doing it to contemporary way, that evades spreadsheet dependency and saves loads of time

As a hotelier, you need to adopt new technologies by integrating your cloud PMS with ’em to effectively streamline your businesses. Thus, to make the whole process error-free and drive accurate results in the following activities,

  • Budgets
  • Profits Comparison
  • Financial Statements
  • Balance Sheets
  • Cash-flow Statements
  • Payroll Management
  • Business Planning and much more

To understand the monetary health of your hotel business, financial statements of each department becomes vital. As a hotel owner/management, you got to access information including room
occupancy, current month’s profit to the previous month and other deeper insights. Generating and procuring these details manually might consume a lot of time and involve tremendous effort, leading to errors.

Checking the recorded transactions, summarizing them, making additions or subtractions involve extensive manual work. Make a move to hotel accounting software is ideal, which saves an enormous
amount of time in dealing with piles of bills. How automating your hotel accounting process with modern accounting software brings a big time relief to your hotel management.

Automation and Accuracy: An automated accounting system makes it easy for you to generate invoices, daily sales, produce balance sheets, analyze expenses, estimate budget & forecast and
much more. Routine tasks can be automated, leading to zero manual errors and you’ll find greater accuracy in all the calculations, providing the data entries correctly.

Access from Anywhere: When integrated your cloud-based Hotel PMS with an accounting software, it becomes easier for you to access all your accounting data from anywhere, anytime, and on any smart device. Even, the assessment of your properties’ competitiveness, productivity and efficiency can be effortlessly done.

Real-time Information: All your financial and operational data is made available within the software, enabling a real-time view of your cash flow – accounts receivable, and accounts payable etc. Access this info helps you streamline your business operations efficiently, while reducing costs & efforts.

Ease-of-use: The data entry process become simple and hassle- free. It’s easy to update your data online and allow access & assign privileges for specific users (accountants, managers & employees). Abundant data storage also makes it easy to share rich information on the go.
With a collection of valuable hotel accounting features, if the software acquires simple and easy-to-use interface – Your accounting and financial information becomes very easily navigable. According to your personal preferences, it should allow you to customize its usability within few clicks.

Speed and Efficiency: Your end-to-end hotel’s accounting process will work at a faster speed when compared to the manual methods. On the other hand, it also increases the efficiency of your hotel accountants and managers, leaving more space to focus on guests.

Time Saving: Moving to an automated hotel accounting software will save an enormous amount of time in dealing with bills, reconciling bank accounts, tracking daily sales & receivables, letting your hoteliers and accountants focus more on productivity & best business outcomes.

Cost Saving: Operational costs associated with your hospitality management can be minimized with a next-generation hospitality accounting software. Likewise, the administrative efforts can be
reduced, while empowering you by consolidated accounts, generating customizable reports and solving the complexity of manual entries.

Revenue Enhancement: Hotel accounting software lets you maximize the revenue by analyzing profits, forecasting budget, revenue and expenses, which altogether optimizes your cash flow.

You’ll get to know the pulse of your group of hotels financial performance at one place.
When you’ve your finances at place, there wouldn’t be any uphill battles during the taxation season.

Business Insights: Business Intelligence enabled Hotel Accounting Software allows to better visualize and utilize the data of your group of hotels.

BI software centralizes all your key performance indicators (KPI’s) like real-time Occupancy%, ADR & RevPAR on its dashboard, while alerting you on pending/overdue payments & receipts.

Final Thoughts

Become a tech-savvy hotelier by adopting accounting software and integrating it with your cloud-based PMS to tackle host of accounting and operations efficiently.

Hotel accounting management with Nimble Property is no longer a cumbersome process. The benefits are vast. So, are you ready to make the move today?

Try Nimbleproperty ‘Industry’s Leading Cloud-Based Hotel Accounting Software and Bookkeeping Service Provider’

HIGHLIGHTS:  Cloud Based, Fits any Property Size, Zero Maintenance, Bookkeeping Services, Economic Pricing, Hassle Free UI and Quick & Easy to Setup

Here’s everything you need to know about hotel accounting software & its updates!

Nimble Property has much more to offer and empower Hoteliers & Accountants through automation of back-office activities. Leveraging Integration, Nimble seamlessly integrates with Hotel PMS like Opera, OnQ, Fosse and other systems to automate the Daily Sales process.

Trusted by 200+ Major Brands & 800+ Satisfied Properties, its carrying the legacy of helping them manage all facets of their accounting, while saving enormous time, money and efforts. Nimble supports some of the industry’s largest brands, including Navika Capital Group, Premier Hotel Group, Kalthia Group Hotels and SSN Hotels to handle their bookkeeping and accounting. Established in 2012, Nimble Property is Headquartered in Hauppauge, New York.

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  1. This is a lot of really useful information. I work in accounting (not necessarily hospitality), and I never thought of the idea of a hotel-specific accounting software. I do have one client who operates as a hotel, so I’ll be looking into this. Thank you.

  2. Helpful article!
    In-depth explanation about the benefits of using accounting software for hotel management.
    Thank you for sharing it.

  3. Very Informative Article!

    The aspects of hotel Accounting is definitely not the same as traditional accounting software. ANd the benefits you have listed that are so well-explained in a very concise manner. Thanks for sharing this valuable information. Really earned quality knowledge!

  4. It’s good to know that hiring a commercial accounting service helps a company save money. Personally, I believe it would be better to hire an accounting service if it could save 30%-40% of your revenues. I’ll keep this in mind if I start a business or if a business owner friend has an accounting dilemma. MPA Courses or any any other accounting courses can help you save extra dollars that are deducted in the form of tax.

    Thanks for sharing this wonderful information.

  5. The benefits of using hotel accounting software in the post are well explained. Keep sharing such helpful information.

  6. Thanks for writing this great article!
    It’s very informative, and you included some great points to the equally great article regarding best accounting software for hotel industry.

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