Hotel Accounting Software

With huge turnover rates of customers, the hospitality industry, including hotels and restaurants, process a lot of data. Software designed specifically for hotels and restaurants, in addition to standard accounting functions, will accept and process reservations and include other features to manage daily operations, such as labor scheduling, food cost control and billing customers based on room charges and additional services.

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Reservations

Whether online, over the phone or both, managing reservations is one of the foremost functions of software for the hospitality industry. Tying directly to your website, the accounting and reservations functions should be integrated so that deposits and payments can go directly into the system once the reservation has been made.

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Showing 1 - 20 of 106 products
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Showing 1 - 20 of 106 products

NetSuite

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive rang...Read more

42 recommendations

Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational i...Read more

26 recommendations

Multiview ERP

Multiview Financials is the flagship ERP system developed, sold, implemented, and supported by Multiview Financial Software. Multiview is designed for organizations ranging in size from rapidly growing small businesses to large en...Read more

4.40 (10 reviews)

25 recommendations

Striven

Striven is a cloud-based enterprise resource planning (ERP) solution suitable for many industries and organizations of all sizes. It offers features for accounting, inventory management, human resources, customer relationship mana...Read more

4.84 (19 reviews)

22 recommendations

Infor CloudSuite Financials

Infor CloudSuite Financials is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the cloud. It deliver...Read more

3.08 (6 reviews)

5 recommendations

Nimble Property

Nimble Property is a Hotel Accounting and Operational Software that enables Property Management System (PMS) Integration and works on Automation. It also provides bookkeeping services to the full-service and limited-services hotel...Read more

4.00 (1 reviews)

3 recommendations

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and manuf...Read more

2 recommendations

Activity HD

ActivityHD is a fully integrated accounting system designed to provide flexibility and improve decision-making. Businesses can use ActivityHD to efficiently manage complex systems within a centralized software. ActivityHD provides...Read more

4.73 (45 reviews)

1 recommendations

DataServ SaaS AP Automation

For over 26 years, DataServ has delivered cloud-based AP and AR automation solutions to mid-sized to global Fortune 500 clients in the wholesale and distribution, manufacturing, healthcare, retail, and financial services industrie...Read more

4.50 (14 reviews)

1 recommendations

QuickBooks Desktop Enterprise

QuickBooks Enterprise is an accounting solution designed for SMBs across different industry verticals such as construction, nonprofit distribution, manufacturing, and retail. With QB Enterprise solution, any business owner can exp...Read more

Software pricing tips

Read our Hotel & Hospitality Accounting Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Quickbooks Online

QuickBooks Online is a web-based accounting solution that caters to individual accountants and small businesses. The solution helps with bank reconciliation, tracking expenses, drafting invoices and monitoring financial reports, a...Read more

Dynamics 365

Microsoft Dynamics is a customer relationship management solution designed to serve businesses of all sizes. The solution is used across various industry verticals such as government, financial services, manufacturing, healthcare,...Read more

Xero

Established in 2006, Xero is a web-based accounting system designed for small and growing businesses. Xero connects small businesses with their trusted advisors and provides business owners with instant visibility of their financi...Read more

Wave Accounting

Wave is an online accounting platform exclusively designed for small business owners, freelancers, and consultants. Wave's software provides features including accounting, invoicing, billing, payment tracking, payroll management, ...Read more

Happay

Happay is a cloud-based expense management solution that helps medium to large businesses manage and track expenses. It uses AI and machine learning technologies to automate processes related to expense claims management, reimburs...Read more

QuickBooks Online Advanced

QuickBooks Online Advanced is a cloud-based accounting solution that helps small to large enterprises manage expenses, projects, invoices and more. It comes with a centralized dashboard, which enables users to gain insights into b...Read more

TimeSolv Legal Billing

TimeSolv is a cloud-based legal time tracking and billing solution that caters to law firms, accountants, consultants, architects, and freelancers, helping them manage daily business operations. TimeSolv integrates project ma...Read more

Zoho Books

Zoho Books is a cloud-based accounting solution suitable for small to midsized organizations. It features contact management, invoices, expenses, sales and purchase orders, project time tracking and inventory management. Zoho...Read more

Zoho Invoice

Zoho Invoice is a cloud-based solution designed to help small businesses automate processes for tracking expenses and accepting online payments. Key features include project billing, time tracking, reporting/analytics, customizabl...Read more

Sage 100cloud

Sage 100cloud is a market-leading cloud-connected ERP platform for medium-sized manufacturers, distributors, and professional service businesses. Financials, budgeting and planning, inventory, supply chain, production management, ...Read more

Popular Hotel & Hospitality Accounting Software Comparisons

Buyers Guide

Last Updated: June 16, 2021

There are several revenue streams hospitality companies must manage, from reservation transactions, upgrades, room service, food and beverage sales, spa appointments and more. Without an automated way to view, track and analyze these data, a general manager and revenue management professionals have no clear sense of how operations are going and where to cut costs.

Accounting software for hospitality helps corral all the incoming financial data into one system and offers a dashboard view to see operations at a glance. In addition to assisting with the daily tasks of reservation and room service transactions, software gives managers tools to handle back office financial duties, like maintenance, payroll, food and housekeeping costs.

Reporting capabilities turn these data into actionable insights; see where your property drives the most revenue, find out which service areas are dragging or reveal which maintenance tasks are eating into your bottom line.

This guide will help software seekers determine which features they need to reach organizational goals. We’ll discuss:

What Is Hospitality Accounting Software?
Common Features of Hotel and Hospitality Accounting Software
Top Hotel Accounting KPIs
Evaluating Hospitality, Hotel and Restaurant Accounting Software

What Is Hospitality Accounting Software?

With huge turnover rates of customers, the hospitality industry, including hotels and restaurants, process a lot of data. Software designed specifically for hotels and restaurants, in addition to standard accounting functions, will accept and process reservations and include other features to manage daily operations, such as labor scheduling, food cost control and billing customers based on room charges and additional services.

We've written this guide to help guide hospitality professionals as they research solutions. We'll cover functionality specific to the hospitality industry, as well as best practices for evaluating these systems.

Common Features of Hotel and Hospitality Accounting Software

Hospitality and hotel accounting systems will include the following industry-specific features:

Reservations Whether online, over the phone or both, managing reservations is one of the foremost functions of software for the hospitality industry. Tying directly to your website, the accounting and reservations functions should be integrated so that deposits and payments can go directly into the system once the reservation has been made.
Customer relationship management Particularly in the hospitality industry, it’s crucial to turn every lead into a sale. Hospitality software manages leads from initial contact to final reservation, and stores customer (or potential customer) data for future marketing campaigns. The more robust systems for hotels and resorts expand this into “tour management,” offering the user an online tour.
Daily operations Front desk, concierge, room charges, housekeeping, security, special events, facilities maintenance and all the other aspects of managing the hotel should integrate seamlessly with the accounting functions. This enables costs and revenues to be tied directly to the relevant department.
Labor scheduling For most hospitality companies, labor is the number one expense. Scheduling systems offers basic graphs, and advanced programs can even create those schedules for you based on sales trends, history and employee availability. Helping managers streamline operations, this feature can also cut labor costs by scheduling employees based on fluctuations in activity, contain overtime costs, ensure the best employees are serving at peak times and facilitate scheduling of routine tasks during lulls.
Food cost control One of a restaurant’s largest controllable expenses is the cost of the food. Certain restaurant management programs help control food costs by identifying variances in actual versus ideal food usage, excessive waste, theft, margins and other inefficiencies. They may also include budget & forecasting capabilities to support the decision-making for menu changes, specials or promotions.
Reporting Data is gathered as transactions are processed through the system. Users can then generate reports that show revenues and expenditures, as well as average daily rates and occupancy levels. Looking at historical information, you can reveal seasonal trends in bookings and optimize rates. View reports in a list format or in a graphical chart.

Top Hotel Accounting KPIs

The hospitality industry relies on specific key performance indicators to ensure that room rates are optimized and the hotel is earning maximum revenue per square foot. Some of these KPIs include:

    • RevPAR: Revenue per available room, calculated by dividing total room revenue by number of rooms (for a particular period of time).
    •  
    • TRevPAR: Total revenue per available room, calculated by dividing the total revenue of an entire property by the total available rooms. Because hotels also earn revenue from restaurants, conferences and other services, this KPI is often preferred by hotel accountants because it offers the overall financial health of a property.
    •  
    • GOPPAR: Gross operating profit per available room, calculated by dividing the gross profits by the number of rooms. This offers an even more realistic view by factoring in operational costs instead of just revenues.
    •  
    • REVPAM: Revenue per available square meter, calculated by dividing the total revenue by the available banquet or conference space. This offers a view of space utilization.
    •  
    • REVPASH: Revenue per available seat hour, calculated by dividing the total restaurant revenues by the available seats multiplied by opening hours. This can be used to calculate revenues per hour of on-property bars or cafes as well.
    • Many hotel accounting systems are designed to help calculate these KPIs quickly and present them in an accounting dashboard. Evaluate a system’s reporting capabilities to find one that can offer the most comprehensive view of financial operations so you can focus on reducing costs.

Evaluating Hospitality, Hotel and Restaurant Accounting Software

The challenge in finding software today is to locate a program that offers a solution that deals specifically with your company’s needs. Resorts, hotels and restaurants all have different challenges that need to be addressed. A fine dining establishment will have different needs than a fast food joint.

Specific questions to ask when these systems are:

    • Do you need reservation capabilities? Will this need to be integrated into your website?
    • About how many employees do you have to schedule, and how many shifts need to be covered?
    • What kind of customer data are you looking to collect? Does the software store that data? How many records will it let you have?
    • Are your frontline employees using the software in day-to-day operations?
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