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 reports. Other essential HA internal controls
include: staffing guides and daily labor cost monitoring; purchase order
systems; food and beverage cost control systems and night audit procedures.
A state of the art, computerized accounting system functions as the
technical nucleus of our financial planning and management support function.
Monthly financial reporting follows the Uniform System of Accounts for
Hotels but is customized to the particular requirements f each hotel Each
department is examined with 12 columns of data comparing current period and
year-to-date to budget and prior year, each with percentage variance.
Statistics are tabled and charted to identify trends. A general ledger, bank
account reconciliation, and aging of accounts receivable are included in
the monthly laser 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 return on
investment.
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