The most frequently asked questions and their answers concerning our consultation of hotels or the accounting service:
If you prefer to ask your questions personally, it is very welcome.
A telephone call is enough: + 49 (0) 2203-96-555-0
When should you make use of the service or hotel consultancy by RHC?
A call to the RHC Real Hotel Controlling GmbH is always useful, if a company cannot keep the human and technical resources for a profit-oriented and strategically oriented management:
- When operational tasks for the management are in the foreground and the time for planning, reorientation, and the strengths-weaknesses analyses in the hotel or restaurant seem to be lacking.
- If neutrally prepared typical industry transparency and assessments are necessary (E.g. applying for a loan with your bank or for the preparation of the upcoming lease negotiations).
- If changes, such as reconstructions, renovations, sales of companies or similar are to be carried out and the economic impact has to be calculated precisely in advance.
- If you want to know whether with your strategies, investments, and quality in the hotel or restaurant, still satisfies the requirements of the market of today and tomorrow.
- If you are not satisfied with the transparency of your business results. When you want to optimize the processes of your accounting or introduce an accounting concept based on the Uniform System of Accounts.
The RHC Hotel Controlling GmbH is not only hotel consultancy or management cooperation, it runs or coaches also your financial accounting. What makes the RHC Real Hotel Controlling different from my tax consultant?
RHC, because of its excellent knowledge of hotel processes, is capable of channeling the necessary accounting information for the operational areas and thus ensuring already during the development of the business transactions, that these are recorded correctly in the accounting.
RHC has detailed knowledge of typical key figures of hotel and catering and ensures an accurate periodization of the months, as well as profit center exact allocation of the individual bookings in a management information system according to the “Uniform System of Accounts for Hotels”.
RHC does not replace the tax consultant, but is cooperating excellently with various tax consultants and supplies the consultants with perfectly accurate data. On request, RHC also coordinates the preparation of annual accounts, including a tax consultant from the RHC network.
If I outsource my accounting to RHC, how can I be sure that is properly booked?
Also for “non-accountants”, the captured transactions will be transparent through sophisticated but easy to understand reporting. In addition, to the profit & loss-accounts supplied evaluations for liquidity development, the accounting is ‘translated’ by separately made bookings, investments, inventories, and cost of sales, etc. Thus, decision templates are made for management.
When does external accounting make sense at all?
- If a business is unable to carry out its own accounting regularly and promptly (also during the holidays or sick periods).
- If the correctness of accounting should be secured, neutral and uninfluenced.
- If the labor market has no appropriate accountant / controller available.
What is the first step if I want my commercial organization to be checked?
A short inventory of the commercial operations of the company (including accounting), reporting, validity of accounts and accrual of the monthly results
Why do I need a budget for my hotel or restaurant?
To make a business’s success predictable, measurable and strategically influenceable; a detailed budget provides the targets and objectives, which differences are already the best approach for intelligent controlling.
What is the best procedure to produce a budget?
- Ensuring the necessary transparency for the efficient creation of a budget in the accounting and bookkeeping; in plain language: detailed, well-defined data from the past
- Selection in the existing structures appropriate details for the budget preparation
- Determination of the team members involved in the budget preparation, and setting the schedule for the preparation of the individual budget areas (sales, human resources, costs, investments and liquidity planning)
- If necessary, creation of a multi-year plan to optimize the conditions needed (accounting, bookkeeping etc.) for an efficient and detailed budget preparation.
What are the biggest mistakes made in accounting?
- Insufficiently up-to-date accounting.
- Faulty periodization of monthly accomplishment.
- Poor or non-existent transparency about the profit centre of the business.
- Incorrectly aligned revenue collection to the sub ledger accounting (E.g. hotel software).
- Too little specified charts of accounts / cost categories.
- Reports / evaluations unfit for management.
What Excel-based tools and monitoring instruments can RHC Real Hotel Controlling GmbH implement to optimize the price control and distribution?
- RHC daily report (daily sales and statistics report)
- RHC budget
- RHC forecast / rolling budget
- RHC sales controlling
- RHC pick up report
What metrics should an hotelier know and regularly monitor?
- Development of results for the entire business but also of the individual business areas (profit centers).
- Development of liquidity / liquidity forecast.
- Sales / occupancy indicators (average rate, RevPar, market segments, etc.)
- Personnel key figures (holidays, illness, fluctuation etc.)
- A good management information system compares all these values transparently with the previous year and budget values.
Do you also have questions? Please contact by email or telephone. This area is constantly updated.
Contact Marcus Becks:
Marcus Becks, Manager (Hotel Consultant and Coach)
Marcus Becks began his professional career with the vocat…