The hotel room revenue generates over $97 billion in the United States annually. The numbers without any doubt say that America is a dreamland for pleasure seekers. Its classy hospitality infrastructure and technology stuns everyone. No more waits in the lobby, enter the rooms and back to the beaches and your favorite destinations in no time. The luxury of time is valuable over anything, and the United States offers you everything, welcome to the great land of beautiful dreams with your loved ones.
Thanks to the hospitality technology which is making the business landscape more engaging and rewarding.
This blog explores smart hotel accounting which makes the work of revenue managers easier and helps them make informed decisions using data driven insights.
Nimble Property, the Complete Hotel Accounting Solution
The Drawbacks of Conventional Hotel Accounting
Hotel financial management is a difficult task. Hoteliers must manage everything from daily revenue tracking to vendor payables, reconciling several bank accounts, and adhering to franchise and tax rules.
The fact is, however, that generic accounting software was not created with hotels in mind. They waste your precious time by leaving you to patch together spreadsheets and workarounds.
A change is needed.
It’s time for Nimble Property; an accounting tool designed specifically for hotels that streamlines your financial life with features specialized in the hospitality industry. Unlike general accounting, industry specific accounting simplifies complex hotel accounting. Let us learn more about them in the following steps.
1. Cost-free role-based access control
It shouldn’t be a luxury to have security.
Every hotel has access to the correct financial data with Nimble Property as well. Customize who sees what for everyone from general managers and owners to bookkeepers and franchise auditors without paying additional license fees.
✔ Safeguard confidential financial information
✔ Simplify team collaboration
✔ Make audits and reviews simpler
2. Hospitality-Specific Industry-Specific Reports
Don’t rely on generic financial statements. Hoteliers require the following reports from Nimble Property:
Daily Revenue and Operational Metrics
✔ Analysis of GOP (Gross Operational Profit)
✔ P&L Breakdowns by Department
✔ Franchise Reporting & Tax-Ready Financials
Use insights created for your organization, not for a generic manufacturing or retail business, to make decisions more quickly and intelligently.
3. Consolidation of Integrated Properties
Do you own more than one property? Give up switching between accounts.
Data from your whole hotel portfolio can be consolidated into a single, easy-to-use dashboard with Nimble Property.
✔ Manage centralized accounting for every site
✔ Create roll-up financials with a single click
✔ Analyze performance properties by property
Efficiency and exposure for expanding hotel chains.
4. Automated Daily Reconciliations & Bank Feeds
No more ignoring inconsistencies till the end of the month. Every day, Nimble Property retrieves your bank transactions and automatically compares them to your books.
Get rid of manual data entry,
Identify problems instantly, and
Free up your team to concentrate on strategy rather than spreadsheets.
5. Templates for a Franchise-Specific Chart of Accounts
Every hotel brand has its own set of accounting guidelines. Franchise specific Chart of Accounts templates are supplied into Nimble Property, simplifying setup and complianc.
✔ Choice, IHG, Marriott, Hilton, and more.
✔ Streamlined tax preparation and franchise audits.
Standardized reporting formats
6. Fast Migration with Complete Data Assistance
Concerned about system switching? Don’t be.
With complete assistance to transfer your history data, accounts, and settings, Nimble Property’s migration specialists assist you in making a smooth shift from your outdated software.
✔ No data loss—keep your financial history intact
✔ No downtime during migration
✔ Tailored onboarding and training
Concluding Remarks: Accounting to Support Your Hotel Enterprise
Hotel management moves quickly. So should your accounting software.
Nimble Property gives your back-office automation, visibility, and control, plus you get a partner who knows the hospitality sector.
Refrain from using generic accounting solutions.
Get your hotel business to operate more profitably and intelligently.
Are You Ready to Make Your Hotel Accounting Easier?
Call us: +1-866-964-6253
