The most simple & easy to use Hotel Accounting System with the hotel management system
Aiosell provides an extremely simple & easy to use hotel accounting system which can be used along with expenses module to fulfil of all hotel accounting requirements.
What makes Aiosell the best hotel accounting and expense system?
Aiosell is the best hotel accounting & expense management system because:
- Extremely simple & easy to use and understand
- Integrated seamlessly with the Property Management System (PMS)
- Expenses can be easily recorded on Stayview of the PMS
- Account Receivables are recorded automatically payments are marked as Bill To Company
- Account Payables integrated easily with Purchase / Inventory Module
- Profit & Loss Statements can be calculated automatically
- Integration with E-Invoice & other regulatory requirements
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What are the features in Expense & Hotel Accounting System?
Aiosell hotel accounting system and expense module has the following features:
Accounts Receivables
Accounts Payables
Expenses
Taxes
Bank Reconciliation
Group / Chain Hotels
Accounts Receivables
All payments recorded in Aiosell PMS as Bill To Company are automatically moved to Accounts Receivables so they can be tracked an payments collected. The balance can be visible as well the detailed ledger of each Account can be seen in detail.
Taxes
Any taxes that are configured in Aiosell PMS will automatically be correctly calculated, summarized, and displayed in the Taxes section of Accounting module. Moreover, some auto integrations are built for GST filing and E-Invoice system integrations.
Accounts Payables
All vendors that are added in Stores & Purchase module are automatically recorded in Aiosell system as Accounts Payables. So they can be tracked for any pending payments to be done. The balance payable can be visible at any time as well the detailed ledger of each Account can be seen.
Bank Reconciliation
All payments marked on Aiosell PMS are automatically categories into each payment category and the detailed ledgers can be visible. Moreover, the bank reconciliation can be done for any offline payments received for any Receivables so that the balance / ledgers are tracked.
Expenses
Any expenses that are marked in the Aiosell PMS are automatically taken in the bank reconciliation statement and can be tagged towards the categories they are made. Also they automatically get accounted towards the Profit & Loss statement that gets calculated automatically.
Group / Chain Hotels
For group / chain hotels the Accounting Module can be configured as a chain. In this setup, all companies / receivables are created as group companies and not as individual hotel companies. Similarly all Vendors are created at group level and all transactions, reconciliation and taxation can be summarized at a group level and not at the hotel level.
How to use Hotel Accounting System with hotel PMS system?
Hotel Accounting system is a very important part of any hotel business because it helps any hotel manage all resources, payments and profitability. The main features of system are as follows:
- Accounts Receivables: this refers to all accounts, customers, companies (including City Ledger) that the hotel business needs to receive money from.
- Account Payables: this refers to any entity, vendor or employee that the hotel owes money to.
- Taxes & Regulations: this refers to calculation of relevant sales, income taxes that the hotel needs to pay monthly / quarterly / annually.
- Reconciliation: this refers to tracking of all collections, payments with any source of collection (eg. Bank account or cash desk).
Hotels can either use 3rd party systems to manage their accounting requirements, or use in house integrated accounting module to cater to the above needs.
Larger hotels with elaborate vendors, payments or taxation structure should use specialised 3rd party accounting modules to manage their accounting requirements. However, small & independent hotels should use integrated hotel accounting software, similar to what Aiosell provides.
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How to manage expenses & cashbook in Hotel PMS system?
Expenses and cashbook (drawer) management should be an integral part of any best in class property management system. It should not be an added module, but should be a key part of daily operations and frontdesk software. Key features to be included:
- All expenses should be organized in categories that should be easily configurable / editable.
- Any expenses entered should automatically be accounted for in the Profit & Loss statement generated
- All payments going in and out of system should be automatically recorded in system.
- Ability to scan and upload cash receipts / payments easily into the system.
- Cash balance from previous date should automatically come in as opening balance of each date.
- Ability to generate automated bank transfer files to implement bank transfers to vendors.
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