Details: Accounting service for hotels

Increase productivity, reduce consumption of resources, reduce costs, increase quality

The accurate and timely recording of business transactions is the duty of accounting. The mission of the RHC accounting services is the efficient management of the information transferred to the financial accounting and the transparent presentation of the success parameter of a business.

The latest modern techniques allow RHC customers (upon request) a stand-alone data access and electronic document archiving. Accounting specialists with long years of hotel experience guarantee a smooth functioning performance.

By integrating the cost accounting according to the “Uniform System of Accounts for the Lodging Industry (USALI)”, the built-up management information system of the RHC guarantees the optimal use of the accounting figures. The key figures are fed directly into the management information system.

Chart of accounts, cost centers, and business processes are adapted by RHC for each customer’s individual needs and business structures. From this, individual, efficient, and lean structures are created. This is done with the close cooperation of your tax advisor and based on the DATEV standard accounting system for hotels. Moreover, based on timely and current accounting, RHC offers many additional services in modular form, such as payment and dunning.

Further key performance characteristics:

• Despite the outsourcing of the hotel accounting, there is no need to maintain supporting records of the business or the making of photocopies of sent documents, because of the direct processing of documents and subsequent immediate deployment of current evaluations and return of documents.
• There is a weekly processing of documents and thus weekly current open items lists for the areas of accounts receivable and accounts payable; with subsequent reminders (if desired by the business).
• The entire payment transactions according to the business can be created electronically by RHC and after approval of payment needs only to be given to the bank.
• RHC guarantees budget-compliant capture of all business transactions and builds all the necessary accruals within the year for the exact periodization of monthly success.
• The hotel business will receive the programs of the RHC management information system for budget preparation, daily turnover, statistics report, and quarterly preview of results without charging for the license fees. Only the time required for the setup and maintenance of programs and tools is charged.
  The business therefore receives the necessary tools for the planning and monitoring of operational success.
• The accounting service includes the commercial advice by telephone for the business, so that for all current commercial issues of the business, as well as for the analysis of the revenue and cost structure, there is available a competent contact person at any time.
• Differences and inaccuracies in the work of the business are reported in writing including a weekly updated status report.

Service description for accounting work in progress:

• Instructions for the preparation work needed of the accounting from the hotel
• The control, correction, and recording of all business transactions
• Telephone support in commercial matters
• Running of computer-based asset accounting
• Weekly update of the open item lists of debtors and creditors.
• Creation of payment media for the payment of supplier invoices according to the specifications of the hotel.
• Cost center accounting according to the ”uniform system of accounts for hotels”
• Carrying out the necessary accruals for the calculations of monthly success
• Monthly evaluation with budget and last year’s values, electronically or printed upon request.
• In coordination with your tax advisor

Introduction of the service

• Provision of the manuals to guide the daily work and the preparation of monthly financial statements, as well as the Excel files to carry out the daily business
• Developing and documenting the flow of information for accounting.
• Entering of budget values

Dunning performance description:

• Assuming the accepted order and the contract status correspond to orderly commercial principles, we guarantee weekly reminders. The reminders are matched with a reminder list from the business.
• Dunning levels: account statement, 1st reminder, 2nd reminder, 3rd reminder.
• Optionally it is possible to take advantage of the conditions negotiated by RHC to use a debt collection agency and to transfer the receivables to them.

The RHC accounting service for hotels includes postings of the ongoing business transactions in the context of § 6 no. 3 and no. 4 tax consultancy act (StBerG).

This chapter is about the outsourcing of the hotel accounting / financial accounting for hotels.

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