Provider directory
Accounting and bookkeeping for hotels and hospitality businesses
Hotels and hospitality businesses run several revenue streams at once, including rooms, food and beverage, events and ancillary services, each with its own system and booking channel. Bookkeeping must reconcile the property management system, online travel agency commissions, deposits and service charge distributions. A generic bookkeeper may treat the property as one undifferentiated business. The right provider reports by department and understands seasonal cash flow and capital expenditure on the property.
In short: Hotels and hospitality businesses usually need reconciliation of the property management system to the ledger and bank and recording of online travel agency bookings, commissions and virtual card payments from a accounting and bookkeeping provider. Check the questions below before you choose, or describe your need and get one to five free introductions.
What hotels and hospitality businesses need from accounting and bookkeeping
- Reconciliation of the property management system to the ledger and bank
- Recording of online travel agency bookings, commissions and virtual card payments
- Departmental reporting for rooms, food and beverage, and events
- Deposits and advance bookings held as liabilities until the stay or event
- Service charge collection and distribution recorded accurately
- Fixed asset register for refurbishments, furniture and equipment
Questions to ask a provider
- Which property management systems have you reconciled before?
- How do you handle commissions and payouts from online travel agencies?
- Can you produce departmental profit and loss each month?
- How do you treat booking deposits and cancellations?
Pitfalls to avoid
- Net-of-commission booking receipts recorded as revenue understate both sales and distribution cost
- Advance deposits booked as income distort results across seasons
- Refurbishment costs expensed or capitalised inconsistently make year-on-year comparisons unreliable
More on accounting and bookkeeping
Our guide to finding a accounting and bookkeeping provider in Singapore covers typical costs, rules and how matching works.
Accounting and bookkeeping providers in Singapore
Sleek
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Osome
Osome is an AI-enabled fintech company supporting over 40,000 global startups and SMEs. Operating in Singapore, Hong Kong, the United Kingdom, and the United Arab Emirates, we help…
세원회계법인 - Seone Business Solutions Pte. Ltd.
SEONE is a premier Korean accounting firm in assurance, accounting and tax, and advisory services. The insights and quality services we deliver help build trust in the capital…
Margin Wheeler | Company Incorporation Singapore
Margin Wheeler is a leading corporate service provider in Singapore with decades of experience, having successfully incorporated thousands of companies across diverse industries…
VentureHaven Pte Ltd
At VentureHaven, we believe every business has the potential to be a great force for good, and a sustainable change-maker. That's why we support businesses to do what they do best…
Fastcorp Pte Ltd
At Fastcorp, we don't just help you incorporate your company. We help fast-track your growth. Our team consists of experienced professionals with years of legal, accounting and tax…
Accounting and bookkeeping for other industries
Other services for hotels and hospitality businesses
Frequently asked questions
Which property management systems have you reconciled before?
Ask each provider this directly and compare the answers in writing. Net-of-commission booking receipts recorded as revenue understate both sales and distribution cost
How do you handle commissions and payouts from online travel agencies?
Ask each provider this directly and compare the answers in writing. Net-of-commission booking receipts recorded as revenue understate both sales and distribution cost
Can FYAdvisers introduce accounting and bookkeeping providers that work with hotels and hospitality businesses?
Yes. Describe your business and what you need, and a concierge confirms your requirements, then introduces one to five providers that fit. It is free for businesses.
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