Hotel Accounting Services
Our accounting services let hotels deliver world-class guest experiences.
Schedule a FREE 15-minute discovery call with one of our CPAs.
Accounting services that improve your hotel’s bottom line
In the hotel industry, streamlining costs and regularly assessing financial performance is critical to staying competitive as a hospitality brand. Our hotel accounting services help you manage all aspects of your hotel’s financial operations, from bank reconciliations and cash flow management to financial reporting on key performance indicators (KPIs).
Our CPA firm has years of experience helping hotel and hospitality clients improve their bottom line through organized bookkeeping, accurate accounting, and strategic tax planning. When you need a trustworthy partner that can provide accounting services for hotels, MBS Accountancy is the team you can rely on.
Benefits of our hospitality and hotel accounting services
Partner with an accounting firm with industry experience
With years of experience helping other hotels and hospitality companies succeed, our firm understands the unique struggles facing hotels. From streamlining staff scheduling to optimizing utility costs, you face many challenges as you work toward consistently delivering an excellent experience for every guest.
Working with our team, you’ll have peace of mind as we organize and maintain your books, extrapolate accounting data into meaningful business insights, and support your hotel operations management.
Reduced costs with our outsourced accounting services
Outsourcing your accounting to our CPA firm saves you money that you’d otherwise spend on the wages, benefits, and other expenses associated with an in-house accountant or bookkeeper. Our accounting solution’s perfect because it provides a more affordable option for hoteliers that want to streamline their company costs and expenses.
Our accounting team is a scalable option for hotels of all sizes
Relying on a single person to handle your bookkeeping and accounting needs can leave you crippled if they fall sick or leave your hotel business. Entrusting your hotel accounting responsibilities to us allows you to scale your company and improve your business continuity as you establish your hospitality brand in the service industry.
We know that excellent service makes a difference
At your hotel’s front desk, every detail matters because it’s both the first and last place your guests interact with hotel staff. Like you, we understand the importance of service and have invested significant resources into making sure our clients always give us five-star reviews. Partnering with our firm, you’ll have our support as you provide each guest with great hospitality.
We’ll help you maximize technology throughout your hotel
We’ve used technology to increase our overall firm efficiency and quality of work while streamlining costs and boosting revenue. As our client, we’ll regularly consult with you to assess and implement technological improvements in your hotel. From sustainable initiatives to eco-friendly equipment, we’ll drive your hotel forward with smarter cost-saving measures.
Reduce overhead costs with our hospitality accounting services
Labor forms the most substantial part of any hotel’s operating expenses, with labor costs typically varying between 30% to 47%. Our team will help you maximize efficiencies in areas like housekeeping, scheduling, and automation. Through strategic financial analysis, we’ll help trim expenses related to energy utilities, labor, your hotel management system, and other areas.
Discover tax savings through strategic tax planning for your hotel
Proper tax planning leads to better tax prep for your hotel during tax season each year. Our accounting professionals will help you uncover tax savings opportunities that may have been missed by your previous accounting company. We’ll help you maximize tax deductions and tax credits like the Work Opportunity Tax Credit (WOTC), the Section 179D deduction, and perform a sales tax review so you can identify possible overpayments and claim the resulting refunds.
Maximize QuickBooks® as your hotel accounting software
Because of its industry-leading functionality, QuickBooks® is a premium option among accounting systems within the hospitality industry. QuickBooks’ full integration with hospitality management software like GuestSuites means your accounting data will automatically be synced with your back-end booking engine.
Improve tax planning results with better bookkeeping throughout the year
Often, business owners in the travel and tourism industry can miss out on tax deduction and credits that may be available to them through asset depreciation. Our team can help you remedy this by performing a thorough cost segregation study that can help you claim more tax savings through accelerated depreciation tax deductions.
The MBS difference
- Modern technology
- Authentic relationships
- Proactive insights
At MBS Accountancy, we LOVE technology. We use technology to streamline time-wasting tasks like receipt entry and invoice filing. Integrating technology lets us focus spotting opportunities for your business to cut expenses, grow your profits, and avoid penalties.
We like to say that we work with people, not numbers. While we’re passionate about accurate numbers and error-free balance sheets, we focus on using this financial data to help you make better business decisions.
Tax laws and regulations change. A lot. Because we automate repetitive tasks, we can stay on top of regulatory changes and industry trends and advise you on the best course of action for your business.