Hotel Accounting Software
No more data entry. No more file imports. Fully automate your invoicing, cash flow, payments, tax, and more by connecting your RoomRaccoon PMS with accounting software.
Take control of your financial reporting
You don’t need to be an accountant to use hotel accounting software. In fact, accounting software eliminates human error, saves time and costs. It organizes and stores your financial data in one location and enables you to get a full view of your business's financial performance in real-time.
General ledger accounts
With RoomRacoon’s all-in-one HMS, you can set up general ledger accounts for each type of asset, add-on, revenue, and expense.
RoomRaccoon Hotel Accounting Partners
Connect RoomRaccoon to one of our excellent Hotel Accounting Partners.
Reporting and analysis
As you run your hotel, your accounting software collects a lot of data through integrations with your PMS. This gives you deep insight into your business. Most accounting software integrations offer reporting functions, enabling you to easily analyze data and track performance.
RoomRaccoon only integrates with cloud-based accounting solutions, so you can track your numbers on the go.
1. What is hotel accounting software?
Hotel accounting software is a tool to help you record the flow of your property’s money and examine your financial condition. With it, you can record transactions, generate reports, manage customer and vendor contacts, create purchase orders, track stock levels, bill customers, and monitor account balances.
2. What accounting software do hotels use?
The best accounting software for hotels in 2022 is:
Xero is the best for small hotels that are looking for very simple accounting software. This software has a clean interface and also fully integrates with a third-party payroll service. Businesses can collect payment online from customers through Xero’s integration with Stripe and GoCardless.
QuickBooks is accounting software for small hotels which provides users with real-time access to customer, employee, and vendor information. The software includes tools for managing inventory, shipping, sales orders, pricing, tasks, invoicing, reporting, and more.
Sage Accounting is a cloud-based small hotel accounting software. With two affordable plans to choose from, Sage Accounting offers essential bookkeeping and accounting features, comprehensive reporting, and inventory tracking. Sage has become the third-largest accounting software worldwide for financial management.
3. How does RoomRacoon’s accounting integration work?
RoomRaccoon places revenue and payments as Night Audit in the administration according to the invoice system. This means that every night, all invoices are sent from your PMS to your bookkeeping system. All components (accommodation, add-ons, taxes, etc) are split up and linked to the correct general ledger account. RoomRaccoon takes care of the entire setup (inventory of all relevant general ledger accounts, mapping, and activation link) and of course, monitors the operation.