Asset control, financial analysis and reporting
Accurate, timely and effective accounting and control systems are essential for the profitability of any business. Hospitality America tailors and installs systems appropriate to the size and the scope of each property. Larger projects are provided on-site accounting staff backed by highly experienced centralized support and computerized reporting. Unlike many of our competitors, smaller inn’s accounting is streamlined and centralized to reduce individual property overhead.
Strong property level financial systems insure accurate daily revenue reports, review of inventory, collection of accounts receivable and management of daily cash receipts. Other essential HA internal controls include: staffing guides and computerized daily labor cost monitoring; purchase order systems; food and beverage cost control systems and unannounced field audits.
A state of the art, Internet-based accounting system functions as the technical nucleus of our financial planning and management support engine. It provides our managers and owners immediate real-time access to analyze and compare up-to-the-minute financial information for ALL properties. Daily revenue, budgets and forecasts for any period forward or backward is instantly available from any Internet connection in the world. Statistics are tabled and charted to identify trends. Monthly, a general ledger, banking reconciliations, and accounts receivable aging’s are issued via pdf and printed financial reports.
Constant daily, weekly and monthly financial monitoring and analysis enable on-site and central management to identify adverse variances and take immediate corrective action. The overriding objective is to maintain the security of the owner’s assets and to maximize the hotel’s ROI - return on investment.