Posted on: April 22, 2020 Posted by: admin Comments: 0
6 Financial Accounting Reports Every Hotelier Needs

Operations in a hotel move on a great pace and at times it feels like dozen fires coming out. As a hotel owner, you preferably like to spend time growing your business, but you must also remain to be vigilant regarding the bottom line threats.

Nimble Property’s financial reporting built for the hotel industry, lets you save an enormous amount of energy and time.

By automating the reports generation, your hotel managers, accountants, co-owners, or departmental heads will be able to seamlessly keep track of things, allowing you to focus on the hotel’s big picture.

The reports can be generated instantly and even sent on emails, this standardized reporting becomes essential if you are growing your portfolio and planning to stay ahead of the operations demand, that’s ever-changing.

Here at Nimble, the financial reports and statements are customizable, can be created on a daily, weekly, monthly, and annual basis.

1. Daily Sales Report

Nimble Property lets your accountants or general managers generate daily sales reports in just a few simple steps, which helps them keep a track of Occupancy, ADR, RevPAR, F & B Revenue, Expenses, and other miscellaneous earnings. Based on your unique business needs, you can customize the daily sales report and prepare the budgets for future periods, with ease.

Without waiting for hours, the comparison can be done amid Year to Date (YTD), YTD Budget and Period to Date (PTD), PTD Budget. PMS Integration is built-in with Nimble, enabling the approval system which automates the entire hectic process of daily sales entry and tracking.

Nimble has the feasibility to integrate with your PMS systems like Opera, FOSSE, OnQ, Skytouch, Lightspeed, Visual Matrix, Anand Systems, Hotel Key, SynXis, and Choice Advantage.

2. Profit & Loss Report

Profit and Loss Report, formerly known as Income Statement or P&L report comes well with Nimble Property. Be it hotel chain or of individual hotel, it can be crafted in minutes to display all your properties’ total incurred Income and Expenses during the particular period selected.

Based on it, the cost-cutting strategies can be significantly implemented and you can come with adjustment strategies for your business better outcomes. Besides, practicing this report analysis gives a better understanding of your hotel’s financial position!

3. Balance Sheet

Considering the ‘Balance Sheet’ as an imperative financial statement, Nimble Property lets you create and access it for a snapshot of your hotel’s financial position.

As per the specific period, the balance sheet can be navigated and it flawlessly displays all your hotel business’s assets, liabilities, and equity, on a single screen.

Effortlessly, you can generate reports ‘on-the-go’ be it day wise or week wise, even month wise or year wise, everything at your fingertips.

4. General Ledger

The ‘General Ledger’ financial report is labeled as yet another core feature within the Back-office Accounting of hotel business. For which, Nimble Property lets you generate this report swiftly.

It represents the hotel’s financial data record-keeping of both credit and debit account records, which are validated by a trial balance.

The Nimble Property’s general ledger report creation lets you hold your hotel account information that is required to prepare furthermore crucial financial reports.

For centuries, the General Ledgers were used to keep on paper, but now with Nimble, it’s all automated and readily made available for you!

5. Trial Balance

In the hotel bookkeeping, the trial balance is a key worksheet which compiles all ledgers of your hotel business. Be it a single property or multiple properties, Nimble lets you can create a ‘Trial Balance’ report at a fly.

Get an overview of your chart of accounts and balances corporation-wise for a chosen period. The most intuitive Trial Balance report here allows you to identify if any discrepancies in your hotel account totals, so you can act quickly on them.

Trust on Nimble Property and get numbers accurately!

6. Intercompany

Juggling between hotel chain properties may be an intimidating thing for you. Nimble Property allows you to effortlessly generate combine reports and instantly perform the comparative analysis of all your hotel’s side by side on a single screen.

With the utmost accuracy, you can manage Intercompany In & Out of your business by generating crucial reports including Profit & Loss, Balance Sheet, Trial Balance, ICFA Ledger, and combined properties’ Income Statement. At Nimble, we made it easy for you to manage your Hotel Chain close at your hand!

Get Automated Now and Run Your Hotel Like Never Before

Improve your efficiency and accountability by generating automated reports by joining Nimble Property, be it daily, weekly, month-on-month, or quarterly.

Save time in creating manual reports and rather focus on growing your hotel business and increasing profits.

Schedule a demo today and take a quick walkthrough to see how Nimble can make difference in your hotel management!

Leave a Comment