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6 Unmissable Benefits of Using Hotel Accounting Software

‘Accounting’ the term has great importance in managing a Hotel. Gone are the days of relying on traditional spreadsheets, now it’s the time of Modernized Hotel Accounting Software.

However, it can make or break a business, so it’s very crucial in finding the right one that can help you cut down the costs and improve efficiency in running your hotel, letting you stay ahead of your competitors.

While the marketplace spreads over with countless options, we have ‘Nimble Property’ as one of the most tailored and precisely crafted Hotel Accounting Software. It’s the most loved accounting partner by Hoteliers across significant brands in the US.

Leveraging Automation and Intelligence, Nimble is known for its impeccable functionality, actionable insights, and intelligent features, which made it stand tall in reducing the overheads and remain very competitive in the Hospitality Industry.

But don’t just go with our word, instead, let’s look at the benefits it has to offer.

Advantages of Using Hotel Accounting Software

1. Intelligent Insights for Quick Decisions

Enabled with Intuitive User Interface, Nimble Property leverage Business Intelligence to give actionable insights on your Hotel or Hotel Chain side-by-side. The insights give one single screen that helps you in analyzing the gaps so that you can detect revenue leakage and run the hotel profitably.

Here are a few intelligent insights enabled on Nimble that allow you to visualize better and utilize your hotels’ data.

  • Real-time Occupancy %, ADR & RevPAR
  • Consolidated Department-wise Revenue Analytics
  • Competitor and Guest Satisfaction Review
  • Budgets Comparison & Profitability Check
  • Alerts on Pending/Overdue AP & AR

When you’ve got updated information on all happenings, you will the known pulse of your hotel, so you can act proactively without missing anything.

2. Hotel Specific Reporting for Financial Success

Generating Reports manually is not a small feat, it can become evil or an angel, so it matters how we do it.

In Nimble, there’s seamless access to 60+ Reports on an exclusive widget to keep your operations smooth, give financial position snapshot, letting you focus on a big picture and make your life easier as a hotelier.

Be it for a limited-service or full-service hotel, the reports get created, and accounts & finances get tracked in a matter of minutes.

Here is the list of crucial reports offered by Nimble Property that helps you save enormous time and effort of your accountants, managers, co-owners, and also the departmental heads.

  • Profit and Loss Report
  • Balance Sheet
  • General Ledger
  • Trial Balance
  • Vendors
  • STR & GSS
  • Reconciliation
  • Daily Sales
  • Intercompany

All these reports lend a great portion in analyzing the Hotel Performance, ultimately helping you to experience financial success.

3. Budget & Forecasting for Strategic Planning

When you have perfect Budget & Forecasting procedures implemented, you’ll be able to control finances, determine your profitability, and plan strategically for a better future.

Nimble Property’s Budget & Forecasting module gives you a sigh of relief when dealing with departmental wise budget creation and readying for capital expenditures through forecasting current situations.

Flawlessly, you can adjust the upward percentages of budget and process hotel undertakes with the easily handy reports.

Here’s the maximum advantage of Budget & Forecasting module

  • Create budgets with flexible statistics
  • Make adjustments & process hotel undertakes
  • Import historical budget & get rid of excel
  • Evade the data collation necessity
  • Fetch comparisons via guests’ outlet history
  • Compare, export and review budget reports
4. Cash Flow Optimization for Business Growth 

The streamlined In & Out of Cash Flow will help you run your operations swiftly while ensuring healthy vendor relationships and receive faster profits.

Cash is King – Nimble Property helps you master the cash flow optimization by letting you keep a tab on Account Payables and Receivables while alerting you on your pending or overdue payments as well as receipts.

Here are the Highlights

  • Automated Bill Entry by OCR Scanning
  • Alerts on Overdue Payments/Receipts
  • PMS Integration for Account Receivables
  • Cash Flow Forecast Generation
  • Built-In AP and AR Approval

The aforementioned will add value to helping you rein the cash flow problems and avoid your hotel business move off beyond the control.

5. Achieving Automation in Daily Sales

It’s an intimidating task for your General Manage to enter and track daily sales manually during the time of the audit, as it’s involved with a lot of time and effort.

Even the accountants face hassles in juggling between the sheets for verifying the books and approving.

Using Nimble Property – Hotel Accounting Software, the advantage can go maximum by automating the arduous routine through PMS integration. The accuracy percentage is 100, and the error percentage is zero.

Basically, the experts at Nimble takes off the burden off your shoulders in configuring the income sheets and daily sales to enable access for automated reports.

Salient Features & Benefits Indulged in the process

  • Daily Sales & Night Audit
  • Income Sheet Configuration
  • Exclusive Manager Login
  • Seamless Activity Tracking
  • Effortless PMS Integration
6. Speed & Efficiency in the Entire Back Office

Being one of the most trusted and leading Back Office Accounting Software, ‘Nimble Property’ helps you cut down entire back-office costs by 50% and save time in handling bookkeeping.

When you have control of your accounts and finances, you can concentrate more on improving your guest satisfaction. So back-office automation is indispensable!

Back Office Accounting Made Easy with these features

  • Payroll Import & Preview
  • Bank Accounts Reconciliation
  • Revenue & Expenses Summarization
  • Multi-property Management

Final Thoughts

An Accounting Software that enables cutting-edge technology will make a difference in the Hospitality Industry. It’s about Nimble Property, be it any the Hotel Accounting Software must help you reduce revenue leakages and ensure sustainable, higher profits through intelligent analytics and advanced technology.

Most importantly, it should be crafted perfectly for the Hospitality Industry, and Nimble Property takes pride in bagging renowned and leading brands up to 200+ so far.

Source: 6 Unmissable Benefits of Using Hotel Accounting Software

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