What does it mean to become a hotel accountant?

Bookkeeping Tasks - What is Bookkeeping? definition

What is accounting? definition

Bookkeeping (synonym bookkeeping) deals with the accounting of a company. In larger hotels this is often housed in the back office area. Business administration only describes bookkeeping as a methodology or an activity.

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Accounting or bookkeeping tasks

  • Asset accounting for fixed assets (see depreciation)
  • Accounts receivable for invoicing to the guest / customer
  • Financial accounting for the balance sheet with profit and loss account
  • Accounts Payable processes payables to suppliers - see Accounts Payable
  • Stock or quantity accounting for posting materials management
  • Cost and performance accounting - which organizational units of the company or projects cause which costs
  • Payroll accounting for payrolls - see Payroll

The weekly and monthly bookkeeping

Guiding principle: only structured bookkeeping is good bookkeeping! This paragraph with the tips comes from SumUp and Nadine Hirte, the inventor of the master folder system https://entspanntordnung.de/ and order expert

Four tips for small business owners put together to get their finances in order in the long term. First of all: only coordinated and fixed work processes guarantee business success!

Tip 1 - create routine and defined filing!

The time savings of a clear filing structure with fixed times for accounting is enormous. Above all, routine is necessary to keep things tidy. Scheduling a bank day per week and a month-end closing in the appointment calendar every month brings structure to the accounting. Entrepreneurs who do not have monthly bookkeeping are flying blind and have no overview of the current status or any additional payments to the tax office or health insurance company.

"The perfect basis for a quick month-end closing: All income and expenses should be verifiable with receipts. It is even faster if the receipts are pre-sorted according to turnover and type of issue right from the start. "

Tip 2 - digitization of the documents

Like all business owners, small business owners are faced with the challenge of bringing digital documents and paper documents together. In order to get the chaos of the unsorted stacks under control, fixed locations are necessary for the documents. The expert's tip: All paper documents should be available digitally. It is recommended to also take over the paper filing digitally, i.e. paper documents are scanned and stored in a sorted manner.

Disposal of the paper originals is not recommended. There are different opinions on whether to dispose of paper documents. However, you should keep these and create digital invoices at the same time. Basically, paper and digital filing should always follow the same structure.

Filing baskets, filing folders or folders are the ideal solution for temporarily storing paper documents in everyday life before processing or scanning. For long-term filing, we particularly recommend additional folders for small businesses in which the expenses are divided into fixed categories.

Tip 3 - Digital tools save time

Digital tools are very important for proper finances - especially for business owners and the self-employed. The following applies: If possible, only use one tool that meets the individual needs for functionalities. In the area of ‚Äč‚Äčaccounting, there are very different, modern accounting systems such as Lexoffice, Sevdesk, etc. available on the market. If you don't want to keep a cash book or want to offer hygienically secure payment methods, you should, if you haven't already done so, switch to cashless payment transactions and possibly even use additional integrated accounting and payment offers.

Using digital tools initially costs something, but compared to the time saved, the expenses are low and pay for itself after a short time. This saves several working days per month. If the chaos is too big or a basic structure cannot be built on its own, professional support can pave the way to an orderly system.

Tip 4 - Accounts for personal AND business

For small and very small businesses in particular, it is often easier to process business payments from time to time via the private account. For bookkeeping, however, it makes more sense to separate private and business expenses. All business payments should also be processed through business accounts. This also includes accounts managed separately by credit card or digital payment provider.

The expert tip: business and private payments should be separated. This isn't a huge hassle and in the end it pays off for the billing.

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