In the hospitality industry, we tend to see hotels failing due to the lack of accurate accounting reports handy and missing regular assessments of the financial health.
Our keen observations clearly illustrate that an astute hotelier relies on the manual reporting procedure and dilly-dally on it for days, weeks, or even months together. It shouldn’t have to be that way if a hotelier is erudite!
However, staying on top of standard reporting is no easy feat. One glitch in a report can hamper your entire financial health assessment cycle, so you can’t afford it to happen.
Hotelier Books lets you craft insightful financial reports and industry-specific financial statements of about 80+ that help you make better business decisions.
Let’s now dwell on the most essential reports, where you can create within minutes rather than hours or weeks, with Hotelier Books.
Daily Sales Report
Leveraging PMS integration and automation, Hotelier Books lets you fetch all your daily sales information (ADR, RevPAR, Occupancy Rate, etc.) into the system, which helps your manager and accountants to generate daily sales reports with ease. Besides, auto-update in reporting makes it effortless for you and your team to efficiently analyze and monitor your hotel property’s daily revenue, simplifying receivables tracking easy. Otherwise, it becomes intimidating for your managers and accountants to run daily sales reports every night during the time of audits. Get your hotel statistics on the Hotelier Books’ intuitive dashboard side-by-side, which includes the total earnings (e.g.: – Rooms, Food & Beverage outlets, Laundry, SPA, Rentals, etc.) At your convenience, anytime from anywhere, you have a maximized advantage of acquiring a snapshot overview of your hotel’s sales performance through detailed reports.
Cash and Credit card collections
Cash and Card Collection Details Report is yet another important one in the accountant reports list, which helps your hotel manager in crosschecking the hotel collections (cash and credit card) within the bank and take complete control while avoiding discrepancy, either week-on-week or month-to-month basis. Hotelier Books lets you create cash and credit card collections reports as per the time frame, cleared/reconciled data, and card/cash type. The cash and card report catches the income refinements of each counter for the timeframe given. This shows each counter with subtleties of income got and deposited by the bank manager for the day in the bank. · You can follow all the progressions that ensued date-wise, drill down to the total revenue, made through cash, checks, credit cards or EFT/Wire Payments in the bank.
Room Occupancy and Profitability reports
Alongside, ADR (average daily rate) and RevPAR (revenue per available room) – The occupancy rate is yet another crucial KPI to assess your hotel performance. The number of Occupied Rooms / Total Number of Available Rooms gives you the occupancy rate of your hotel, as a part of a better revenue management strategy, the report is to be retrieved with great accuracy. Hotelier Books not only let you generate the report but also gives you a consolidated occupancy rate of all your properties on an intuitive dashboard. Gain a clear understanding of your hotel property’s bottom line with a comprehensive profitability report in Hotelier Books, analyze your revenue and expenses, and identify the areas that have room to grow.
Tax accruals and outstanding
Hotelier Books lets you calculate the tax accruals and outstanding of your hotel beforehand, as per your customization, so you can have a much tighter rein on the cash flow of your business. Furthermore, you can generate a balance sheet and income/expense statements for an individual property or for an entire hotel group on a single screen dashboard. Besides, the real-time information of your expenses and aging info is another add-on. That’s not all, accounts payable automation, GSS & STR review, and budgeting modules are a lifesaver for you.
Book a quick demo to explore more! www.hotelierbooks.com