by a leading accounting firm – CapActix
Improved Cash Flow Management
Accurate and timely accounting provides a clearer understanding of cash flow and working capital.
Reduced Risk of Fraud
Outsourcing accounting functions to a reputable firm with strict internal controls can help prevent fraud
Improved Financial Analysis
Provide valuable financial insights and help hotels and restaurants to better understand their financial performance.
Hotel Accounting Services - Restaurant Accounting Services - CapActix
In today’s competitive environment, the restaurant and hospitality industry always aims to enhance the business and reduce costs by maintaining quality and customer satisfaction levels at Top most. However, restaurant or franchise owners, do not get time to manage staff, process timely payments to vendors, handle day-to-day operations, and most importantly manage accurate hotel and restaurant accounting services.
CapActix offers hotel & restaurant owners cost-effective accounting services for restaurants and accounting for hotels.
CapActix makes a difference between normal restaurant bookkeeping services and hotel bookkeeping services by analyzing the key elements of the business and providing integrated accounting solutions. We have extensive expertise in dealing with franchise-driven hotels owned by single-headed owners with the most cost-effective solutions.
Considering the future of the company, it is important to integrate a strong property management bookkeeping system with other management functions. This system should be well enough to control costs, reduce capital expenditure, and improve service terms with clientele.
CapActix can help to improve the internal control system with enhanced operational efficiency through its cost-effective real estate accounting and finance services.
Our Hotel Accounting Services & Restaurant Accounting Services
- Identifying and setting different charts of accounts which prevail as a norm in the hospitality industry
- Recording of sales/revenue on the basis of reports available on your PMS/POS system
- Recording receipts from customer
- Verifying and recording bills from vendors
- Payment to vendors
- Processing employees’ pay and update payroll file
- Processing other tax related reports
- Recording depreciation and other adjusting entries
- Entering Bank Transactions
- Calculation of franchise fees if any as per the standard norms of applicable franchise
- Providing calculation and analysis of occupancy ratio, revenue per room after allocating different overheads and calculation of margin ratio of different departments
- Month-end or year-end closing entries
- Invoice scanning and storing
- Invoice processing & approval
- Expense allocation
- Online payment approval
- Payment Processing
- Handling of vendor inquiries
- Recording payment from customer
- Reconciliation of revenue on monthly/quarterly basis with PMS/POS system and identifying variances if any
- Reconciliation of merchant deposit on the basis of merchant statements, providing collection reconciliation on monthly basis and identifying any short/excess deposit
- Customer aging
- Collections management
- Cash forecasting & reporting
- Balance sheet
- Income statement
- Trial Balance
- Cash flow statement
- Bank reconciliation report
- Detailed general ledger report
- Fixed asset account managements
- Profitability analysis for different recreational centres
- Room wise revenue analysis
- Seasonal Analysis
- Bank book reconciliation with your bank statement
- Credit card reconciliation with your statement records
- Sequencing of checks
- Balance sheet reconciliation
- Payroll setup
- Payday calculations and direct deposits
- Payroll taxes calculation and form filling
- 941, 1099, 940, 944, and quarterly state tax returns
- Reconciliation of Payroll with Quarterly returns
