Elevate Your GameThe 36th Hunter Conference is just around the corner and this year aims to inspire attendees to “Elevate Your Game” by elevating their networks, industry knowledge, and deal-making strategies. Through that lens, speakers will provide crucial financial analysis and forecasts, as well as insights on capital and financing. This collective call-to-action indicates an industry-wide...
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January 14th, 2025 - Hotel Investor Apps (HIA), the leading hospitality ERP platform, today announced its receipt of Hotel Tech Report’s level 1 “Global Customer Support Certification” (GCSC). This distinguished third-party certification recognizes Hotel Investor Apps for its investments into the tools, processes, and strategies to ensure the ongoing success of its customers. Chip Fritsch, COO...
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As hoteliers work their way through budget season, it’s a time when their attention rests once more on that simple, yet vital, backbone of hotel accounting, the Chart of Accounts.The Chart of Accounts is a list of financial categories and account codes used by a business to record and categorize its financial transactions. This humble...
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When a hotel company gets ready to start working with a new accounting system, most plan to take the plunge with a universal go-live date for all properties. However, sometimes hoteliers request to only onboard one or two hotels out of the portfolio to start.There may be very valid reasons for this request - the...
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Looking to update your hotel accounting software? Make sure you choose one that preserves your General Ledger history or risk being caught without one!
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As the business, leisure, and group travel markets continue to get closer to pre-pandemic levels, hoteliers are eager to harness this momentum but remain cautious about what may lie ahead. After all, today's financial landscape feels a bit like a roller coaster. Many are still trying to fully bounce back from the pandemic, while others...
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While having a fully booked hotel is something every hotel owner or manager desires, the truth is it's not enough. Why? Because being fully booked doesn't mean you're maximizing your revenue. The only way to achieve this is to have a strategic pricing strategy that takes into account various factors such as market demand, competitor...
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In today's digitally driven world, hoteliers no longer need to commit vast amounts of time and energy into juggling multiple spreadsheets and manual data entry—they have cloud-based accounting software to do it for them! If you're thinking of switching or just trying to streamline your finances, you want to ensure that the software you choose...
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2022 was a year of growth and expansion for HIA, as HIA continues to be recognized by leading hotel management companies as the most advanced and complete hotel ERP & accounting software on the market. HIA also delivered numerous new developments and enhancements to what is already the most modern hotel ERP technology available.
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Mistakes happen. Invoices are sometimes coded to the wrong account, or summary invoices need to be itemized for more detail. If your hotel accounting software does not have the ability to easily reclassify transactions, then you may have elaborate spreadsheets or superstitious rituals to make sure that your data is entered correctly before it is posted. Instead, skip the spreadsheets and the manual entries and click the easy button, a.k.a. the “Reclassify” button.
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One of the advantages of digital transformation is the integration and synchronization of your data. Your banking data should absolutely be included in this process. Cash management is too important to not have real-time bank balances; and modern banking integration technology makes it easy to access.
See the 3 major benefits:
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Cash Management is an integral part of financial planning. Bank reconciliation is the most important tool to make sure that your cash account is complete and accurate. Processing your bank reconciliation in a timely manner allows for numerous benefits…
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What is a major hurdle to timely and accurate financial statements? For many, it is inefficiency in your purchasing processes. As soon as an order is made, your company has created a new liability. It is impossible to have accurate balance sheets or financial statements when there are unknown liabilities outstanding. Spreadsheets and even stand-alone Purchase Order software cannot compare in efficiency or accuracy to a purchase order module that is tightly integrated with your financial management software.
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