Searching for the best hotel accounting software for your business?

Save yourself time and stress. We’re here to help you find the right hotel accounting software solution for your work.

What is 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.

What 5 key Hotel Accounting Software features should I look for?

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.

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Showing 1 - 20 of 105 products
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Showing 1 - 20 of 105 products

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is an enterprise resource planning software with primary features such as real estate management, human capital management, environmental health and safety and commodity trading. What is JD...Read more

4.13 (136 reviews)

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Microsoft Dynamics AX

Microsoft Dynamics 365 provides integrated solutions that allow businesses to track leads, automate field service, drive sales and improve operations using mobile, enterprise-ready business apps from the cloud. What is Mi...Read more

3.78 (65 reviews)

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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 insight...Read more

4.17 (312 reviews)

17 recommendations

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OASIS

OASIS by Intellitek is a full-featured ERP solution that is a great solution for overall Supply Chain Management. It features several important applications, such as Supplier Management, Procurement, and Transportation Management....Read more

3.43 (7 reviews)

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NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

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21 recommendations

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R4 Enterprise

Royal 4 Enterprise is an integrated enterprise resource planning (ERP) solution with built-in modules for distribution, manufacturing, planning, inventory management, reporting and company financials. It serves midsize to large en...Read more

4.50 (4 reviews)

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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)

16 recommendations

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FinancialForce Accounting

FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent appli...Read more

3.81 (44 reviews)

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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

3.36 (7 reviews)

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Activity HD

ActivityHD, developed by AccountingWare, 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...Read more

4.73 (45 reviews)

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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

Xero

Xero is an 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 financial position. As a web-based so...Read more

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GCE Financial Accounting Service

GCE delivers cloud-based technology and accounting solutions for the Federal government and commercial enterprises. GCE has transitioned both large and small enterprises from on-premise IT infrastructures to cloud-based solutions....Read more

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NolaPro

We recommend NolaPro by Noguska, LLC to companies of all sizes looking for a system that's easily customizable, and offers a variety of key accounting features, including Reports, General Ledger, Payables Lists, and more. ...Read more

5.00 (3 reviews)

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MultiLedger

First introduced in 1986, MultiLedger by CheckMark Inc provides a fully integrated, comprehensive suite of accounting software for small to mid-size businesses. It merges billing & invoicing, inventory management, job tracking, ex...Read more

1.00 (1 reviews)

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Access Financials

Our financial management software is rich in functionality, delivering a full suite of financial management modules and core and advanced functionality. More importantly, our solution automates many core accounting processes, maki...Read more

4.00 (1 reviews)

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Accounting Xpert

Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank r...Read more

4.69 (36 reviews)

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Infor SunSystems

Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. Offered in multiple languages and currencies, and available for both cloud and on-premise deployment, SunSystems is suite...Read more

4.14 (7 reviews)

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AccountEdge

AccountEdge's banking tools allow users to send and receive money, prepare bank deposits and electronic payments, print checks and reconcile accounts. The system's purchase order feature allows users create and track purchase orde...Read more

4.37 (86 reviews)

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Rerun

Rerun is a standalone billing and invoicing solution designed for small to midsize businesses in the United States and Canada. With Rerun, users can customize payment streams and set up recurring billing, track account activity an...Read more

4.50 (6 reviews)

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MineralTree Invoice-to-Pay

MineralTree’s TotalAP accounts payable automation solution digitizes and automates the entire invoice-to-pay process to make paying your suppliers easy, impactful, and profitable. Our cloud-based accounts payable solution can scal...Read more

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Popular Hotel & Hospitality Accounting Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

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?