Hotel Accounting

A Hotel Accountant for a management company oversees financial operations for multiple properties, focusing on high-volume reporting, month-end close, bank reconciliations, and balance sheet management. Key responsibilities include ensuring accuracy in accounts payable/receivable, payroll oversight, budgeting, forecasting, and adhering to GAAP compliance to ensure profitability and ownership reporting.

Key Responsibilities Financial Reporting & Analysis:

Prepare monthly profit and loss statements, balance sheets, and cash flow reports for owners and senior management.

Month-End Close:

Execute month-end accounting close processes, ensuring all transactions are recorded accurately.

Reconciliations:

Conduct regular bank reconciliations, bank balance reviews, and reconcile balance sheet asset and liability accounts.

Accounts Payable/Receivable:

Oversee AP/AR processes, including vendor inquiries, invoice approval, invoice coding, and hotel ledger collections.

Budgeting & Forecasting:

Assist in developing annual budgets and ongoing forecasts (e.g., room revenue).

Internal Controls & Compliance:

Ensure compliance with tax regulations, internal audit procedures, and corporate financial policies.

Daily Sales Audit:

Monitor daily sales reports (POS) and property management system (PMS) revenue for accuracy.

Required Skills and Qualifications Experience:

Previous experience in hotel accounting or hospitality management, often with multiple property management.

Technical Skills:

Proficiency in hotel accounting software (e.g., M3, ProfitSword, InnFlow), Excel, and general ledger systems.

Knowledge:

Strong understanding of GAAP (Generally Accepted Accounting Principles) and Uniform System of Accounts for the Lodging Industry (USALI).

Soft Skills:

Strong analytical abilities, high attention to detail, proactive problem-solving, and ability to meet strict reporting deadlines.

Source:

Hospitality Online