Financial Systems Tips - Like Money in the Bank...
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TIP #3 - Move Away from Manual Data Entry
Many lodging companies still do manual data entry into their accounting system based on a period of transactions. That's really no longer required and can in many cases cause delayed reporting, incorrect balances and random data entry errors that are difficult to track down. If you are using an off the shelf accounting software, chances are that it can accept invoice and payment imports and that those imports can be fairly automated. If you also have a PMS system that can either connect directly to the accounting system (like Bookt connects to QuickBooks) or export out a standard formatted files you can gain significant operational benefits and cut labor costs.