Hotel Accounting Services - Restaurant Accounting Services - BI-Outsource
Integrate your hospitality business with the advent of technology by partnering with a leading accounting firm, BI-Outsource. Contact us for Hotel Accounting Services or Restaurant Accounting Services.
Guest satisfaction and cost-effectiveness are closely related in today's hospitality environment. Whether it's a single restaurant or a multi-chain hotel group, operational demands will rise in 2025 as digitized POS systems, dynamic pricing models, and third-party integrations become more common. Managing employees, paying vendors, managing compliance, and measuring margins in real time has become increasingly challenging for business owners to manage alone.
That's where BI-Outsource comes in. We provide comprehensive hotel and restaurant accounting services that are customized to today's challenging business requirements. Our services extend beyond standard bookkeeping. We provide completely integrated accounting systems based on years of expertise managing franchised hotels, independent restaurants, and multi-location operations.
Our Hotel Accounting Services & Restaurant Accounting Services
- BI-Outsource established standardized charts of accounts in accordance with industry requirements.
- Revenue is recorded using data directly from your PMS or POS system.
- Customers' receipts and vendor invoices are entered, confirmed, and tracked.
- Vendor payments and payroll processing are performed in accordance with shift schedules.
- Depreciation and month-end adjustments are appropriately recorded.
- Franchise fee computations are done in accordance with applicable agreements.
- Occupancy, RevPAR, and departmental margin ratios are constantly examined.
- Invoice scanning, approvals, and online processing are completely managed.
- Expenses are apportioned according to department, service line, or property.
- Vendor inquiries are swiftly answered, and payments are processed on schedule.
- Customer payments are logged and matched by source (room, restaurant, event).
- PMS and POS reconciliation is performed monthly or quarterly to catch any mismatches.
- Merchant deposits are checked against bank records, with any shortfalls or excesses reported.
- Aged receivables are tracked, and collections are managed pro-actively.
- Cash projection reports are shared periodically.
- Administration of collections
- Cash Forecasting and Reporting
- Balance sheet, income statement, trial balance, and cash flow statements are appropriately created.
- Reports on bank reconciliations, fixed assets, and general ledger are available anytime.
- Profitability analysis by center (spa, F&B, rooms) and revenue breakdowns by room type.
- Seasonal changes and spending patterns were evaluated and summarized.
- balance your bank records and statements on a daily or weekly basis
- Payment card settlements are matched to statements.
- Check data are sequenced and verified to ensure compliance.
- Balance sheet accounts are checked for accuracy.
- Payroll setup customized for your team's size and schedule.
- Daily or biweekly calculations and money transfers are handled securely.
- Payroll taxes are calculated, and forms such as 941, 1099, 940, and 944 are filed on time.
- Reconciliations between payroll ledgers and quarterly returns