Top 10 Hotel Accounting Software for Your Hospitality Business

The hotel business market is projected to grow at an annual rate of 3.80%. This growth means we can expect more hotels to pop up, leading to a surge in accounting tasks that will need to be managed. Doing it manually is nearly impossible, and this is where automated accounting systems can help. 

What does the perfect accounting software for a hotel look like? Is it just about recording transactions, or does it also need a sleek interface? In the hospitality industry, you’d want more than just basic functionality — you’d want all the features bundled into one powerful solution.

But where can you find such a gem? Don’t worry, we can handle that. We’ve compiled a list of the top 10 hospitality software, giving you the chance to learn about the best options and find the perfect fit for your needs. Let’s start!

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Synder

Source: Synder

Synder is a unique software that connects all your platforms into a single source of truth — your QuickBooks Online, QuickBooks Desktop, Xero, or Sage Intact account. It provides a smart solution for automating tricky hotel bookkeeping tasks, letting businesses focus on growth instead. Synder speeds up the entire workflow and allows users to save 40+ hours per month. 

As your business grows, Synder stays affordable with no extra charges for adding new platforms. It easily connects with 30+ payment systems and sales channels — like Stripe, PayPal, Square, Shopify, and Amazon — all in one app. With SOC2 compliance ensuring strong data security and a dedicated support team available 24/7, Synder takes care of your bookkeeping while helping you succeed every step of the way.  

You may ask: How will it help my accounting? To know more, you can try it risk-free with a 15-day free trial or explore Synder’s features on a Weekly Public Demo.

Key features:

• Syncs all your transactions, fees, and taxes;
• Reconciles all the data from your payment platforms with bank records;
• Generates accurate, up-to-date P&L reports;
• Controls your inventory effortlessly;
• Supports syncing of multicurrency transactions without discrepancies;
• Categorizes expenses to ensure everything is tracked accurately in the final reports.

QuickBooks Online

Source: Intuit QuickBooks – YouTube channel

QuickBooks Online is a leading cloud accounting solution designed for businesses of all sizes, including hospitality businesses. It simplifies financial management by providing a clear view of cash flow, making it easier to track income and expenses. 

With powerful automation, your records will be updated whenever invoices are sent or payments are made. Thanks to integration with a wide variety of apps, like Square and PayPal, hospitality businesses can gain a full understanding of their finances, ensuring they stay ahead of the game.

Key features:

• General ledger to provide financial tracking;
• Customizable invoicing to meet business needs;
• Automated accounts receivable and payable management to optimize transactions;
• Robust reporting and analytics tools to support flexible workflows;
• Integration with numerous third-party apps to enhance functionality.

Pros and cons:

Xero

Source: Xero Accounting Software – YouTube channel

Xero is a cloud-based accounting software perfect for small to medium-sized businesses, especially in the hospitality sector. Its interface makes it easy to manage important tasks like payroll and expenses, so hoteliers can concentrate on what matters — providing great guest experiences. With smart automation features that reduce data entry, Xero makes your workflow simpler and smoother.

And even more, its wide range of connected apps brings all your financial data together, giving you a clear picture of your hotel’s performance. 

Key features:

• Automatic data entry to eliminate manual information input;
• Smart bank reconciliation to simplify tracking of spending;
• Online billing to streamline invoicing and payment processing;
• Automated financial reporting to quickly generate balance sheets and statements;
• Integration with various third-party apps to provide customized business solutions.

Pros and cons:

Inn-Flow

Source: Techopedia

Inn-Flow is a rapidly growing software designed specifically for the hotel industry, offering a back-office management system. 

Inn-Flow was built to address the unique challenges of hotel management. Its mission is to equip hoteliers with the tools they need to drive performance through impactful metrics. This strong focus on industry-specific needs makes Inn-Flow the go-to choice for hotels looking to elevate their operations and achieve outstanding results.

Key features:

• Expense tracking to monitor and record all purchases and charges;
• Tax management for efficient compliance and planning;
• Payroll management to handle employee salaries and tax records;
• Project accounting to track financials for individual projects;
• Inventory management to maintain proper supply levels.

Pros and cons:

Docyt

Source: Docyt – YouTube channel

Docyt is an advanced bookkeeping software that simplifies bookkeeping for hotels using machine learning. It automates financial tasks for both income and expenses, providing real-time updates on your finances and generating financial statements. 

Expense management and revenue tracking features empower hotels to gain a clear understanding of their profitability while significantly reducing the time spent on manual work. 

Key features:

• Financial reporting to assess the organization’s performance;
• General ledger for tracking all financial transactions;
• Bank reconciliation to align accounting records with bank statements;
• Expense tracking to monitor all incurred expenses;
• Workflow management to create and manage repetitive tasks efficiently.

Pros and cons:

Ramp

Source: Ramp – YouTube channel

Ramp is a modern corporate card and intuitive software platform created to help hotels and other businesses grow. It prevents out-of-policy transactions before they happen and automates tedious tasks, allowing hotel teams to manage all payments in one place.

With accounting features like automatic receipt collection and expense categorization, Ramp reduces the hassle of managing expenses. It provides real-time spending reporting and insights, helping hotels understand their current hotel financial position and plan strategically for the future.

Key features:

• Receipt management to upload, track, and submit receipts in a central database;
• Expense tracking to monitor and record all purchases and charges;
• Mobile receipt upload to scan and upload receipts using a mobile device;
• Expense claims to attach relevant documents for reimbursement;
• Reimbursement management to handle compensation for out-of-pocket expenses;
• Spend control to set allowances and prevent overspending.

Pros and сons:

WebRezPro

Source: WebRezPro website

WebRezPro is a secure, all-in-one cloud property management system designed to simplify operations for hotels and other lodging establishments, including motels, and vacation rentals. This automated system saves time and money while enhancing direct bookings and improving the guest experience. 

WebRezPro has been trusted by its clients for its flexible features, data protection, and excellent customer support. This makes it a great choice for hotels looking to optimize their operations and deliver exceptional service.

Key features:

• Online booking to manage reservations through a website or digital platform;
• GDS/OTA integration to track availability and manage bookings via online travel agencies;
• Rate management to optimize pricing based on usage;
• Guest experience management to provide personalized services;
• Inventory management to maintain appropriate supply levels;
• Built-in CRM capabilities or integration with third-party CRM systems.

Pros and cons:

M3 Accounting

Source: M3 Accounting website

M3 is specialized accounting software designed for hotels, providing financial analysis and reporting across property portfolios. This cloud-based platform integrates with other systems to simplify accounting and boost business intelligence, providing customizable analytics accessible from both desktop and mobile devices. 

M3 also provides detailed labor reporting, ensuring hotels can effectively manage their workforce. 

Key features:

• Expense tracking to monitor and record all incurred expenses;
• Accounts receivable to track outstanding invoices and amounts owed;
• General ledger to centralize and track all financial transactions;
• Financial reporting to generate detailed performance reports;
• Billing & invoicing to create and manage invoices for customers;
• Bank reconciliation to align financial records with bank statements.

Pros and сons:

StayNTouch Cloud PMS

Source: StayNTouch – YouTube channel

StayNTouch offers a cloud-based property management system (PMS) that simplifies hotel operations from start to finish. This intuitive platform covers everything from reservation and front desk management to revenue optimization and housekeeping, enabling hotels to enhance staff productivity and deliver a memorable guest experience that aligns with their brand. 

Features like unlimited interfaces, open APIs, and integrated contactless check-in solutions allow hotels to scale their operations. Supported by a team of hospitality experts, StayNTouch is a trusted partner for innovative hotels and resorts looking to drive revenue and reduce costs.

Key features:

• Rate management to track and optimize pricing based on usage;
• GDS/OTA integration to manage reservations through online travel agencies;
• Maintenance management to oversee and track asset performance;
• Built-in accounting to handle financials without the need for third-party tools;
• Multi-property functionality to manage multiple locations effectively;
• Guest experience management to capture insights and provide personalized services.

Pros and cons:

Nimble Property

Source: The CFO club

Created specifically for the hospitality industry, this Nimble software helps hoteliers and managers handle their portfolios profitably. 

By leveraging automation and intelligence, Nimble simplifies daily tasks like sales tracking, bank reconciliation, and budgeting, while enhancing multi-property management with custom reports. This all-in-one solution not only streamlines financial accounting but also reduces bookkeeping challenges, making it an ideal choice for hotels looking to improve operational efficiency and profitability.

Key features:

• Expense tracking to monitor and record all incurred expenses;
• Income & balance sheet to detail the financial position of the hotel;
• Accounts receivable to track outstanding invoices and amounts owed;
• General ledger to centralize and track all financial transactions;
• Budgeting/forecasting to create budgets based on historical data;
• Financial reporting to generate detailed performance assessments.

Pros and cons:

Finding the right moment to invest in hotel accounting software can be a magic wand for your business. Whether you’re a small boutique hotel or a growing chain, recognizing the signs that you need a dedicated solution can set you on the right path. Let’s explore the scenarios where hotel accounting software is truly needed and how it can transform your financial management experience.

When is hotel accounting software the best choice?

Hotel accounting software is perfect for your hotel business if you:

1. Manage multiple locations: Ideal for keeping track of finances across several properties.
2. Experience rapid growth: A must-have when your business is expanding, simplifying financial tracking.
3. Have new accounting teams: Great for teams new to hospitality, helping them navigate processes smoothly.
4. Work with tight budgets: Essential for effectively managing strict budget requirements.
5. Need compliance tools: Provides the resources to ensure you meet industry regulations and maintain accuracy.

But these points aren’t the only source of truth. If you feel that your business needs accounting software, don’t delay the decision. Either way, you’ll reap numerous benefits from this choice.

Benefits of hospitality accounting software for your business

Investing in hospitality accounting software offers numerous advantages that can significantly improve your business operations. Here are some key benefits:

Conclusion 

The hospitality business accounting is complex, and automation is your best helper in tackling the tricky tasks that come your way. From recording transactions to preparing invoices and managing spreadsheets, these responsibilities are just the tip of the iceberg.  Software solutions like Synder, QuickBooks Online, Xero, and others can optimize these processes, making your life easier. The choice is yours, but these 10 automated tools are worth taking a closer look at.

Disclaimer: The prices listed in this article do not include any temporary discounts that the software may offer throughout the year.