Accounting is an important part of every business. It tells the financial status of the company and helps in decision making process. For hotels, it is not any different than other businesses. However, there are certain aspects of hotel industry which makes accounting specifically critical for them. Such as more vulnerable to economic pressures, management of various departments and major expenses involved in offering hospitality for guests.
Good Hotel Accounting Software can help you track your spending, keep track of receivables, automate daily sales, account payables and even automate reporting that accountants need monthly or quarterly to do their jobs more effectively. It takes the heavy lifting off managers’ hands so they don’t have to spend hours each week inputting data into spreadsheets or gathering reports from various different software programs.
Additionally, many systems offer features that specifically cater to the hotel industry. For example, you can find a program that integrates with your PMS (property management system) and POS (point of sale) to give you a complete overview of your financials. This is essential for accurate budgeting and forecasting.
Given the importance of accounting in hotels, it is no wonder that most managers consider hotel accounting software as one of their top priorities. By taking advantage of the right software, you can make your job much easier and keep your business running smoothly.
When it comes to best accounting software for hotels, there are certain important factors that one needs to look into. Here are nine such factors:
1) Ease of use: The best accounting software for hospitality should be easy to use, even for those who are not accounting experts. It should have a user-friendly interface and be straightforward to navigate.
2) Customizability: The software should be customizable according to the specific needs of the hotel. For instance, it should allow you to track different types of expenses and revenue streams, as well as create custom reports.
3) Scalability: The software should be able to grow with the hotel business. As your business expands, the software should be able to accommodate the additional needs and complexities.
4) Integration: Accounting software for hotels should be able to integrate with other software used in the hotel business, such as reservation systems and point-of-sale systems. This will make data entry and tracking much easier.
5) Availability of support: It is important that the software provider offers good customer support, in case you need help with using the software or have any queries.
6) Robust features: The best hotel accounting software should have a wide range of features, including invoicing, budgeting, tracking expenses and revenue, etc. This will allow you to manage your hotel finances effectively.
7) Affordable pricing: The software should be affordable, especially for small businesses. It is important to compare the different pricing plans offered by different providers and find one that best suits your needs.
8) Compliance with hotel accounting standards: Software used for Hotel Accounting should comply with standard accounting principles and practices, so that you can be confident that your financial data is accurate.
9) Ease of data backup and retrieval: The best hospitality accounting software should make it easy to back up and retrieve your data, in case of any mishaps or data loss.
By keeping these factors in mind, you can choose the best accounting software for your hotel business and manage your finances more effectively.
For many hotel business owners, accounting software is the last thing on their mind when they are busy trying to keep up with all of their daily operations.
Bottom line: This is not good for you or your business.
When you finally make time to sit down and start looking for accounting software, it seems like there are hundreds if not thousands of options available to choose from.
Want proof? Go Google “accounting software” right now and see what comes up. You will be surprised how many results show up!
That’s why I’m writing this post today – To save you some time by telling you which one is the best! And Nimble is best for the following three reasons:
Reason 1: Nimble Is Affordable
One of the best things about Nimble is that it is affordable – especially for hotel businesses. You can choose from a variety of subscription plans, starting at just $250/month. And if you’re not happy with Nimble for any reason, you can cancel your subscription at any time. No questions asked.
Reason 2: Nimble Is Easy To Use
Nimble is also extremely easy to use. In fact, you can be up and running in minutes without any prior accounting experience. The user interface is intuitive and straightforward, so you will be able to easily manage your finances and keep track of your business progress.
Plus, there is support available to help you along the way. This is very helpful in case you get stuck or have any questions about how to use Nimble.
Reason 3: Nimble Provides Customizable Reports and Analytics
Last but not least, using the built-in analytics tools in Nimble allows you to see exactly where your business stands at all times. With Nimble, you can access powerful reports that show exactly where you hotel’s financial position stand.
These three reasons alone should be enough for any hotel business owner looking for accounting software to choose Nimble . But if it’s still not enough for some reason, there’s one more thing to consider. Nimble also partnered with AWS Cloud, we are witnessing transformation in our deliverables powered by operational excellence, accelerated innovation and strategic execution of our accounting services.
So if you’re looking for an affordable, easy to use and powerful accounting software, the choice is pretty clear!