These days, hotels have a lot to keep track of. There are a staggering number of operational functions, from the kitchen to the room service. Rentals that come and go quickly and rush able reservations are easy for hotel staff members to miss when they’re running on just about any conventionally-organized software like Quick Books.
Fortunately, there is now an emerging category of hotel accounting software that’s been designed specifically for this purpose: NIMBLE hotel accounting software. It’s lightweight, easy-to-use and packed with features that will help your business run smoothly.
But why should you use nimble accounting software? Here are a few reasons:
It Helps You Maximize Revenue and Cut Costs
If you want to keep your business profitable, your hotel accounting software should help you make the most out of every dollar.
Every dollar that’s not accounted for properly can mean the difference between staying afloat and going under. And even if your business is doing well, you might be able to increase revenue with more efficient software. For example, savvy hotel accounting software can help you find sales that aren’t being tracked properly. It might be able to cut those costs out of the system entirely, saving your hotel money or hotel manager & accountant time.
It Creates a Clear Picture of Your Business
The hotel accounting software you choose should be able to paint you a clear picture of your entire business—not just what it costs to run it.
For instance, let’s say that you have staff members who are managing bookings but also writing reviews on Yelp or TripAdvisor. If they’re doing this out of their own desire rather than because it’s part of their job, they’re probably doing an alright job—but they might not be giving your business the most bang for its buck.
However, a hotel accounting software like NIMBLE can make it clear what’s going on like that. It will give you the ability to see where your money is going and whether the goals that you’ve set for the business are being accomplished. It will also give your hotel manager & accountant time a clearer idea of what’s possible and track how far you’re getting toward that goal.
It Helps You Get Things Done Faster
If you’re taking time out of your busy work schedule to keep track of every reservation, contract, invoice or other financial detail, it’s taking away from valuable time that could be spent doing something more profitable.
However, if you have a hotel accounting software like NIMBLE, you can spend more time managing the business and less time managing the systems.
Another benefit to having nimble hotel accounting software is that it will allow you to track the granular details of your business, rather than the broad ones. For instance, if you run an all-inclusive hotel, a hotel accounting software that can help you keep track of every sale of rooms would be incredibly valuable. It will save your staff members time and give them more clarity on which activities are most profitable. In addition it will help your accountant generate a clear profit and loss statement for your business.
It Helps You Deal With Emergencies
Let’s face it: last minutes happen all the time in hotels. The accounting might break down and face taxation blues.
If you have nimble hotel accounting software to keep your business organized, you can keep your cool and handle any scenario with ease. If you don’t have nimble hotel accounting software, however, you might not be able to tell if a report is missing info or whether a file for a balance sheet has been misplaced.
Nimble is a free, open source accounting software solution that aims to eliminate the barriers traditionally associated with accounting software.
We don’t think you should spend more than 30 minutes a month managing your hotel’s accounting. And if you don’t have time to manage your costs, you certainly won’t have time to manage your profits. We think it should be that easy.
An Overview of Hotel Accounting Software
Hotel accounting software is an important tool for achieving success with your hotel. It allows you to accurately calculate your cost per available room (cost per available seat) and net operating profit percentage at the end of each day. Before using a premier hotel accounting software, it is important to discern the software’s niche so that you can decide which version will best fit your needs. Most hotel accounting systems are designed for different business sizes and particular markets or industries. For example, some are specifically designed for moderately sized hotels while others are meant for high-end luxury hotels with expensive rooms and suites. These hotel accounting software suites are usually based on different platforms, including Microsoft Office and Lotus Notes. The software can also be customized to suit individual needs.
Hotel accounting software is designed to assist a hotel’s management team with critical business functions such as: • management of available rooms, • real-time tracking of revenues and expenses, • creation of customized reports, and • daily sales automation • bank reconciliation • budgeting • Tax calculation and filing • Customer Resource Management • Sales automation • Invoicing and billing • Inventory tracking and management
Hotel Accounting Software – Cloud Based
Cloud accounting software is a type of web-based accounting software that is hosted in the cloud, the system or application accessed and worked on using Internet browser. Cloud accounting software is one type of online accounting software. Some cloud software are built to work with an Internet browser that supports Flash, Java scripting and cookies. While most cloud based solutions require you to install a plug-in or java script, some do not. Cloud based solutions are not confined to a single platform.
Hotel Accounting Software – On Premise
On-premise software is software that is installed on site at the business location. One benefit is that it can be customized to meet your business needs. On-premise accounting software suites can be used in industries other than hospitality, but they are primarily geared to mid-range hotel professionals. They provide management with the information needed for a clear picture of financial performance and revenue.
FINAL THOUGHTS
Do you often have trouble balancing your books? Are you plagued by errors and mistakes when entering sales data? Do you need to spend more time on bookkeeping tasks than investing in your business? Well, it’s time for an upgrade. Cloud-based hospitality accounting software for hotel business owners is the best way to deal with slow and manual operations.
Worldwide, businesses that use accounting software are more efficient and make more profit than non-users. Going paperless is a major benefit of accounting software, which is also why it’s the future of bookkeeping. Here’s what you should know about the benefits of using accounting software for hotel businesses.
Doing bookkeeping tasks manually can be time consuming and difficult to manage. Besides that, you will have to make sure all your data is entirely accurate when recording expenses and sales. By using accounting software , you can spend less time on menial tasks while focusing on important business decisions instead. Professional software can help you record all your sales data, keep track of inventory, and produce reports in minutes.
Is it important for you to make mistakes when entering data? If so, then you shouldn’t go with automated bookkeeping software . The benefits are not as important if you don’t have time to learn the system or if accuracy is key to your business. There are times when manual bookkeeping will suffice and that’s why the benefits of accounting software for hotel business owners are not as essential. With the latest technology and advanced features, your business will soon be a paperless one.
Accounting software is not only a great way to create a paperless system, but it can also help prevent fraud. You can track all your business transactions, including sales, purchases and cashflow. It will help you reduce theft by monitoring all your financial data. This is the case even if your business doesn’t have physical access to the bookshelves and filing cabinets where you keep different records.
If you need best accounting software, consider nimble!
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