Generally, to keep your hotel clean, tidy and hygiene it needs the best housekeeping and regular maintenance. In the same way, to keep your hotel run smoothly your bookkeeping requires to be updated regularly.
If you fall behind on your hotel bookkeeping, it may result in breakdowns.
We’re here to make you get a more precise understanding of bookkeeping’s importance in the hotel business. Further, will let you dive deeper to unveil how to stay on top of bookkeeping!
Bookkeeping in Hotel
When it comes to hotel-specific bookkeeping, it starts from recording day-to-day sales to organizing financial transactions and preparing night audit to configure income sheets.
Likewise, creating entries & mapping the needful information to the right chart of accounts comes under hotel bookkeeping; it may involve accommodation, food and beverages, housekeeping supplies related, etc.
Why hotel bookkeeping matters
As your hospitality business grows, eventually the hotel chain and franchises expand and the volume of books volume. For which, the accuracy matters a lot while handling books of multiple properties.
Being a busy hotelier, you may miss on keeping an eye on bookkeeping due to the daily hustle-bustle schedule in handling your guests, managing, or allocating staff.
That is when the questionable finances may possibly rise, forget tracking items, and most importantly, you may be prone to miss on the tax deadlines.
And, that costs you a big fortune, so staying loose on hotel bookkeeping should be a breeze! Hoteliers like you cannot afford to make even a single mistake during the process.
How to keep hotel books streamlined
Outsource your bookkeeping! Hotel-specific bookkeeping service provider and accounting software – ‘Nimble Property’ is helping hoteliers deal with all the emerging bookkeeping complexities being faced across hotels.
Keeping accurate hotel bookkeeping in focus, experts at Nimble work very efficiently in helping you clean up your books, while simultaneously providing financial reports weekly and most importantly, they are proven to be best in giving strategic advice on business health.
The bookkeeping experts at Nimble work within quick turnaround times, with precision in providing best-in-class reports which will surely help you to add value to your hotel business.
Benefits of Nimble Property Bookkeeping:
- Simplified Daily Sales & Night Audit
- Income Sheet Configuration
- Assistance in Budget & Forecasting
- STR & GSS Import
- Expense Management
- Reconciling your Bank Accounts
- Prompt Financial Reporting on a weekly basis
- Insightful advice on Business Health
Relying on Bookkeeping Software & Services for Good
In this modern-day competitive market, there is a breadth of Hotel Bookkeeping Software and Services available. But, not everyone is reliable and only a few make the difference.
Nimble Property is one the most hoteliers loved sources, which precisely understands & identifies your hotel or hotel chain accounting needs and delivers the most promising results you’re hoping to achieve.
Why hoteliers rely on Nimble Property – Hotel Bookkeeping Services & Accounting Software, here’re the reasons:
Accounts Receivables –Tracking Daily Sales
On the bookkeeping side, experts at Nimble will take the complete burden off your shoulders involved in tracking daily sales.
To make your general manager and accountant work easier, experts here fetch all your daily sales information on a regular basis. Starting from hotel revenue to reservation info, room occupancy to profits.
When it comes to the Hotel Accounting Software front, Nimble leverages automation and integrates with your hotel PMS. By which, eventually all your hotel daily sales, booking info, receivables, and also the room statistics data will be fetched into the system automatically.
All your staff has to do is to access the automated reports; just they got to compare with daily sales report and approve as or when required.
Account Payables – Settling Vendor Payments, Miscellaneous& Bills
When you outsource your bookkeeping, Nimble Property will help you speed up the payable processing. Everything will be on track and in a timely manner. No more headache of getting lost in bills!
OCR Scanning is enabled within the system, so all your physical copies can be converted into entry of bills. It makes your staff work easy.
Besides, the Hotel Accounting Software subscription serves the purpose well. Entire AP Processing will be improvised.
End-to-End Multi Property Accounting
Own a hotel chain? Then, it’s not an easy task to keep a tab on multiple properties! Bookkeeping Experts of Nimble help you manage your chain efficiently.
Right from generating combined reports to statements of P & L, Balance Sheets to Intercompany transactions and followed by ICFA Ledger.
By, which you will keep in touch will all your hotel happenings across all franchises.
Even Multi-property feature in Nimble Bookkeeping Software is the main highlight. Be it an accountant or a hotelier, the combined reports can be generated effortlessly.
Then consolidated view on the hotel chain lets you compare one property with another by keeping side by side, on a single dashboard.
Banking Reconciliation& Activities
Nimble Property Bookkeepers help you keep all your bank accounts and balances in sync.
Experts keep you posted on cleared or un-cleared transaction summary, banking activities across all your hotels.
They reconcile accounts and let you avoid any mismatches and surprise hits to your accounts.
Additionally, the Nimble as a Hotel Accounting Software lets you reconcile your bank accounts and get feeds on a regular basis. So you stay up-to-date on your banking activities.
Bookkeeping expert Dedicated
For daily regular interaction, Nimble allocates an exclusively dedicated CRO. So you will have a pulse on your hotel and have uninterrupted bookkeeping interactions.
It’s not just being an accountant, but Nimble Bookkeeping experts will give your strategic business advice so you can make informed business decisions.
Merchant Account Reconciliation
Nimble Property’s Hotel Bookkeeping Services cover Merchant account reconciliation to help you to identify any discrepancies or errors in your data entry.
Our bookkeeping experts thoroughly check and ensure that your hotel sales are accurately reflected in your merchant statements and correct funds are in the bank.
Ultimately, it avoids any excess fees and loss of revenue!
Hotel Budgeting and Forecasting
Nimble as a bookkeeping service provider and hotel accounting software is like a lifesaver if you are looking for support in budget and forecasting. It really helps you do it with precision and accuracy, improving your hotel performance.
Departmental wise, the operational budget can be created and the forecast report can be generated for the upcoming year with significant statistics.
By which, you can keep your budgets aligned and improve your financial projections!
Review STR & GSS by Import
Bookkeeping experts in Nimble gather your GSS & STR data to give a consolidated view of your guest comments and competitor performance.
So, you can work around them and improve guest satisfaction, and outperform competitors.
In Nimble Hotel Accounting Software, one can self-import the GSS & STR data to review the performances.
Reporting Financial Matters Weekly
To assess your financial performance, the key is to access financial reports and statements including income statement, balance sheet, trial balance, general ledger, journal, and cash flow reports.
Nimble Bookkeeping experts keep you updated on the weekly basis, letting you evaluate your earning potential and financial health.
60+ Hotel Specific Reports are made available in the Nimble Hotel Bookkeeping Software as well, where you can generate reports as or when required.
Make sure your hospitality bookkeeping is in order with Nimble Property