We all know that business is a numbers game. Reduce costs... increase profits. Hotel accounting software is designed for hotel and property managers/owners to quickly see the numbers of your business. For hotel businesses, it is important to keep track of costs, sales, inventory, etc. By identifying these numbers, hotel businesses are able to keep track of which actions are profitable, and which actions should be stopped because they are costing your business too much money. Once your system is set up, tracking these actions becomes pretty easy.
You will want to find a system that is fully integrated, meaning that you ring up sales, book and reserve rooms, issue room charges, and manage your accounting all within the same package. For example, it can be very time consuming to have to export sales from one software package to another. The ability to view reports and numbers all from one system will give you huge returns on your investment.
Again, you do not want to have to manually copy credit card and gift card information from one system to another. A good system should allow you to ring up either credit card or gift card sales directly into the software. This enables you to see all sales information, not just cash or check sales, in your hotel accounting package.
Finally, your hotel accounting software should allow you to manage Accounts Receivable and Accounts Payable. For Accounts Receivable, if a customer has an open account with your hotel, you should be able to quickly view invoices that the customer has open. Also, those sales should be easily accounted for in your accounting package.
For Accounts Payable, you will need the ability to track invoices paid and checks made to your vendors. Again, these payments need to be easily tracked in your accounting package.