How New Accounting Software Can Make Small Hotels Become More Profitable

Small hotels and motels have always had many challenges to overcome including competition from larger entities. With national sized budgets the major chains can spend large sums of money on advertising for brand recognition. Saving costs everywhere they can is a priority for the small hotel owner or manager. One of the ways to level the playing field is by using up to date accounting software customized for the needs of the hotel and motel business.

Today’s accounting software is web-based or “Cloud-based” and your financial information can be shared or accessed with your browser or even your mobile device. If you are unfamiliar with what “Cloud-based” is, it means that your accounting system is actually running on a server that is not located on your property. Anyone with proper authority can access the system and you don’t have to be on site to run the show. Most newer software will run on most existing operating systems including Windows, Web browser (OS agnostic), Linux , Unix, Solaris, Mac OS, AIX,IBM OS/400 or HP-UX.

Hotel Accounting Software Reduces Costs

Newer accounting software is faster saving you and your bookkeeper time preparing routine reports. By having your software located in a central location you have more flexibility in upgrading as needed and you have access to other servers during peak times ensuring seamless service.

You are able to access the decision making information you need instantly. All of your information is integrated into one system. Payrolls, HR reporting, reservations, accounts payable and receivable are easily accessed saving time and money. With total integration your reservations and checkouts can drive your scheduling automatically based on room counts. This reduces labor costs.

Due to the fact that the main infrastructure is centrally located, the costs of cloud-based accounting software can be lower than site based programs. However, you have to weigh the costs of integrating all of your existing systems into one.

Paperless Options Saves You Money

Document imaging is the new way to streamline any bookkeeping that you do. By converting all of your paper documents into digital images you are able to securely store them in your system, off site. Only authorized users of your system would have access, for example, your accounting firm.

Another paperless option is the use of one-time credit card or virtual credit card to pay vendors. Instead of a check you have a virtual credit card that can be used for an exact amount, one time. It is secure, easy to track and can be used on the web instead of a check by mail.

Various Interfaces can be Integrated to Your Hotel Accounting System

There are numerous interfaces used by hotels and motels today. Passport scanners, credit card readers, electronic signature pads, electronic door locks are some of the most common interfaces in use and the information can be used in conjunction with your hotel management system.

Cloud-Based Hotel Accounting is More Reliable

Because your accounting system is centrally located with continuous monitoring and upgrading this can be much more reliable than site based programs. However, as it is critical to have constant internet accessibility, you need to decide how reliable your communications are for your particular location before deciding on a cloud-based system.

About the author:

CFO Business Growth Solutions, LLC provider of Casino Hotel Accounting & Analytics Services. For more information go to http://www.cfocha.com

Posted by Fz 0 Responses

Liked this post? share it with your friends and peer !