Skip to main content

In the dynamic hotel management industry, navigating finances can be complex. Understanding the sector's complexity, I recognize the value of proficient hotel accounting software. It's not just about numbers; it's a centralized system capturing every payable and receivable, streamlining bank accounts, and improving payment processing.

With the right tool, manual errors and lengthy reconciliations become a thing of the past. Embrace these solutions and let technology steer your hotel's financial path for subscribers.

What Is Hotel Accounting Software?

Hotel accounting software is a specialized type of accounting software that is designed for the hotel industry. It helps hotel managers keep track of their finances, including income and expenses. Hotel accounting software can also help managers track room occupancy rates and revenue, as well as manage staff payrolls and budgets.

Some of the benefits of using hotel accounting software include improved cash flow, better decision-making abilities, and reduced accounting costs. Hotel accounting software usually costs between $500 and $1,000, depending on the features and functionality that you need.

When buying hotel accounting software, you should look for a program that is easy to use and has a wide range of features. The program should also be compatible with your computer system and have a good customer support network. Some of the key features to look for include invoicing and billing, expense tracking, revenue tracking, and staff management.

Best Hotel Accounting Software Summary

Tools Price
Xero From $1.40/month
Nimble From $24.90/user/month (billed annually)
Docyt From $10/user/month, (billed annually).
WebRezPro From $5/user/month, (billed annually).
Carmen Software From $15/user/month, (billed annually).
Shiji Accounting Pricing upon request.
Big Red Book Pricing upon request.
AccountsIQ From $300/month (billed annually)
Inn-Flow From $15/user/month, (billed annually).
RAMP From $20/user/month.
Compare Software Specs Side by Side

Compare Software Specs Side by Side

Use our comparison chart to review and evaluate software specs side-by-side.

Compare Software

Best Hotel Accounting Software Reviews

Best for small to medium-sized hospitality businesses

  • 30-day free trial
  • From $1.40/month
Visit Website
Rating: 4.4/5

Xero is a cloud-based accounting software geared towards facilitating robust financial reporting and bookkeeping for business owners, especially in the hospitality sector. Tailored for small to medium-sized establishments, Xero offers a blend of essential accounting features with the nimbleness required by growing businesses in the hospitality industry.

Why I Picked Xero: Navigating through countless accounting systems, Xero caught my attention due to its easy-to-use interface and comprehensive accounting solution tailored for SMEs. Its strong emphasis on hospitality accounting software capabilities convinced me of its suitability. I chose Xero because it fills the gap between basic accounting tools and extensive enterprise systems, making it particularly good for small to medium-sized hospitality businesses.

Standout features & integrations:

Xero excels with its automation tools that minimize data entry, allowing hoteliers to focus on informed decisions rather than mundane tasks. The platform's customizable modules improve workflow and balance sheets, providing a comprehensive view of a hotel's financial data. Its impressive integration capabilities span a variety of apps, notably connecting with QuickBooks Online, PMS (property management system) platforms, and popular POS systems, ensuring all financial data is consolidated.

Pros and cons

Pros:

  • Wide range of integration capabilities with popular systems like POS and PMS
  • Efficient bank reconciliation and back-office management tools
  • Comprehensive cloud-based accounting features suitable for SMEs

Cons:

  • Limited support for niche add-ons compared to larger enterprise systems
  • Advanced forecasting tools could be more refined
  • Might be overwhelming for very small hotel establishments

Best for property-specific accounting needs

  • 14-day free trial
  • From $24.90/user/month (billed annually)
Visit Website
Rating: 4.5/5

Nimble is a cloud-based accounting solution designed primarily for the intricacies of property management. Offering a range of tailored tools, it empowers hoteliers and property managers to effectively manage their accounting systems, ensuring that property-specific financial nuances are efficiently addressed.

Why I Picked Nimble: When determining the best tools for property management accounting, Nimble stood out to me because of its specialized offerings. I judged its features against other contenders and found that its emphasis on property-centric accounting needs made it unique. I chose Nimble because, in my opinion, its targeted approach caters best to those who prioritize 'property-specific accounting needs.'

Standout features & integrations:

Nimble provides a range of customizable accounting features, from detailed financial reporting to efficient bookkeeping tools tailored for property management. The automation in its workflow greatly reduces the data entry efforts for business owners, making the process streamlined. Nimble integrates well with other prominent tools like QuickBooks Online, various PMS (property management system) platforms, and several POS systems, ensuring a cohesive accounting experience.

Pros and cons

Pros:

  • Customizable features allow for adaptability based on individual property requirements
  • Strong integration with popular accounting and PMS systems, facilitating a more comprehensive financial data overview
  • Focused accounting solution for property management, catering to the specific needs of hoteliers

Cons:

  • Some advanced features might be excessive for smaller properties or independent hoteliers
  • Might have a steeper learning curve for those unfamiliar with property-specific accounting
  • Not as versatile for industries beyond property management

Best for paperless financial documentation

  • Free demo available
  • From $10/user/month, (billed annually).
Visit Website
Rating: 4.9/5

Docyt is a cloud-based accounting solution designed to streamline and automate the management of financial documents, making it an asset for businesses striving for a paperless approach. With a focus on reducing physical documentation, it becomes a fitting choice for businesses that aim to make their financial workflows more eco-friendly and efficient.

Why I Picked Docyt: In the process of determining the most efficient accounting solutions, Docyt emerged as a unique choice for its dedication to a paperless approach. What made it stand out is its emphasis on minimizing data entry and promoting a more sustainable workflow in financial reporting. I chose Docyt because, in my opinion, its innovative approach to documentation aligns with modern business requirements, making it the 'Best for paperless financial documentation.'

Standout features & integrations:

Docyt's automation tools are pivotal in reducing manual data entry, ensuring that businesses can focus on data analysis rather than input. The software's accounting features are customizable, catering to a broad spectrum of business needs. Moreover, Docyt integrates with popular accounting systems and platforms such as QuickBooks Online and other CRM tools, facilitating smoother financial data workflows.

Pros and cons

Pros:

  • Automation tools that minimize manual input
  • Integration with leading accounting and CRM platforms
  • Strong emphasis on paperless documentation

Cons:

  • Some businesses might find the customization options excessive for basic needs
  • Potential learning curve for certain automation features
  • Might be overwhelming for businesses used to traditional documentation methods

Best for integrated property management

  • From $5/user/month, (billed annually).
Visit Website
Rating: 4.3/5

AccountsIQ is a potent cloud-based accounting software, particularly tailored for businesses that manage multiple entities, such as hospitality groups with several hotels or branches. Given the complexities of handling finances for multiple units, AccountsIQ emerges as a compelling choice with its multi-entity accounting features, ideal for larger hospitality conglomerates.

Why I Picked AccountsIQ: Sifting through a myriad of accounting systems, AccountsIQ particularly stood out for its focus on multi-entity management. I determined that the tool's architecture and accounting features were best poised to handle the intricacies of larger hospitality groups. I chose AccountsIQ primarily because it provides a consolidated financial reporting mechanism, allowing hotel owners of big chains to get an aggregated view of their entire operation's financial health.

Standout features & integrations:

AccountsIQ shines with its automation capabilities, which significantly reduce data entry workload, particularly valuable when managing multiple entities. The software's customizable modules offer intricate balance sheets and financial data insights, ensuring business owners can make informed decisions. As for integrations, AccountsIQ blends with CRM systems, notable POS solutions, and property management systems, making the workflow smooth for hoteliers.

Pros and cons

Pros:

  • Customizable modules to cater to diverse hotel needs
  • Strong integration with popular systems including CRM and POS solutions
  • Comprehensive suite of property management tools

Cons:

  • Certain advanced features may have a learning curve
  • The interface may seem daunting for first-time users
  • Might have features that are excessive for very small properties

Best for real-time financial insights

  • Free demo available
  • From $15/user/month, (billed annually).

Carmen Software offers a robust cloud-based accounting solution tailored to deliver actionable financial data in real-time. Its dedication to providing instant financial insights ensures that business owners and hoteliers alike are always informed about their financial standing, fitting perfectly with its tag of being 'best for real-time financial insights.'

Why I Picked Carmen Software: The decision-making process around financial tools can often feel like a daunting task. After determining and comparing a myriad of tools, Carmen Software stood out because of its emphasis on real-time insights. I chose Carmen Software due to its unique capability to furnish financial metrics instantly, which, in my opinion, distinguishes it as the 'best for real-time financial insights.'

Standout features & integrations:

Carmen Software is equipped with robust financial reporting tools that allow for instantaneous access to balance sheets, forecasting modules, and more. It also offers a customizable workflow that adapts to varying business needs, ensuring streamlined bookkeeping and efficient data entry. In terms of integrations, Carmen Software connects with prominent accounting systems such as QuickBooks Online, various PMS (property management system) tools, and several CRM apps, ensuring cohesive data management.

Pros and cons

Pros:

  • Strong integrations with leading accounting systems and CRM tools
  • Customizable workflow suitable for diverse business requirements
  • Real-time financial reporting capabilities

Cons:

  • Some niche features may require add-ons or additional costs
  • The annual billing cycle might not be preferable for all businesses
  • May require training for users unfamiliar with real-time accounting solutions

Best for large-scale hospitality enterprises

  • Pricing upon request.

Shiji Accounting is a robust cloud-based accounting solution tailored specifically for the expansive needs of the hospitality sector. Handling vast financial data and intricate accounting systems inherent in large-scale hotel chains, it truly shines for these enterprise-level operations.

Why I Picked Shiji Accounting: I chose Shiji Accounting after closely comparing it with other contenders because of its impressive customization abilities tailored for large hotel chains. In my opinion, for hoteliers managing numerous properties or high-volume operations, Shiji's deep accounting features and extensive modules make it a natural fit. Its stature and ability to provide comprehensive financial reporting align perfectly with the needs of large-scale hospitality enterprises.

Standout features & integrations:

Shiji Accounting's strengths lie in its ability to handle complex financial data with ease. The software supports detailed forecasting, allowing hotel owners to make informed decisions. Integrations with various PMS (property management systems) and POS solutions make data entry less cumbersome, giving more focus to actionable insights. Additionally, its cloud-based nature ensures accessibility from anywhere, ideal for hoteliers with multiple properties.

Pros and cons

Pros:

  • Customizable modules specific to hospitality needs
  • Robust integration with various PMS and POS systems
  • Comprehensive financial reporting tailored for large operations

Cons:

  • Pricing transparency could be improved
  • Learning curve for those unfamiliar with large-scale accounting solutions
  • Might be too intricate for smaller hotels

Best for straightforward financial management

  • Pricing upon request.

Big Red Book is a cloud-based accounting software designed to simplify the intricacies of financial management for hoteliers. Its focus on clear, unambiguous financial data makes it the go-to choice for those who crave clarity and efficiency in their bookkeeping processes.

Why I Picked Big Red Book: When I was evaluating different accounting systems, Big Red Book stood out as the embodiment of simplicity combined with essential features. I chose it primarily because it takes the complexity out of accounting, offering a straightforward approach. This tool felt like the right match for businesses and hotel owners who want an uncomplicated solution, aligning perfectly with the notion of 'straightforward financial management.'

Standout features & integrations:

Big Red Book brings to the table a streamlined approach to bank reconciliation and balance sheets, making it a solid choice for those wanting simplicity. Its customizable metrics give business owners the power to tailor reports to their specific needs. The software's integration capabilities are commendable, with key connections to POS systems and notable apps in the hotel software ecosystem.

Pros and cons

Pros:

  • Customizable metrics to suit various business needs
  • Effective integration with POS systems and other hotel-related apps
  • Intuitive design that simplifies complex accounting tasks

Cons:

  • Some hoteliers might prefer a solution with built-in forecasting tools
  • Could benefit from more diverse automation tools
  • Might lack advanced features for larger-scale operations

Best for multi-entity hospitality groups

  • Free demo available
  • From $300/month (billed annually)

AccountsIQ is a potent cloud-based accounting software, particularly tailored for businesses that manage multiple entities, such as hospitality groups with several hotels or branches. Given the complexities of handling finances for multiple units, AccountsIQ emerges as a compelling choice with its multi-entity accounting features, ideal for larger hospitality conglomerates.

Why I Picked AccountsIQ: Sifting through a myriad of accounting systems, AccountsIQ particularly stood out for its focus on multi-entity management. I determined that the tool's architecture and accounting features were best poised to handle the intricacies of larger hospitality groups. I chose AccountsIQ primarily because it provides a consolidated financial reporting mechanism, allowing hotel owners of big chains to get an aggregated view of their entire operation's financial health.

Standout features & integrations:

AccountsIQ shines with its automation capabilities, which significantly reduce data entry workload, particularly valuable when managing multiple entities. The software's customizable modules offer intricate balance sheets and financial data insights, ensuring business owners can make informed decisions. As for integrations, AccountsIQ blends with CRM systems, notable POS solutions, and property management systems, making the workflow smooth for hoteliers.

Pros and cons

Pros:

  • Integration with essential systems like PMS and CRM
  • Robust financial reporting tailored for large hospitality groups
  • Specialized multi-entity management features

Cons:

  • Some features might be too advanced for basic accounting tasks
  • The initial setup might require a steeper learning curve
  • Might be overkill for single-entity businesses

Best for comprehensive hotel financial tracking

  • From $15/user/month, (billed annually).

Inn-Flow is a specialized cloud-based accounting software crafted for the hospitality industry, offering an array of tools to track and manage the financial intricacies of hotel operations. It provides hoteliers with an integrated platform that ensures all aspects of their financial data, from receivables to payable, are accounted for, aligning perfectly with the goal of comprehensive hotel financial tracking.

Why I Picked Inn-Flow: Among the myriad of accounting solutions available, Inn-Flow caught my attention due to its tailored approach for hotel owners. This specificity in design allows for a more thorough grasp of the hospitality industry's financial nuances. I chose Inn-Flow after comparing various tools, determining that its dedicated approach made it the best fit for those seeking 'comprehensive hotel financial tracking.'

Standout features & integrations:

Inn-Flow boasts a robust set of accounting features such as customizable financial reporting, forecasting tools, and automated bank reconciliation, simplifying many back-office tasks for hoteliers. Additionally, its modules are designed to cater specifically to hotel operations, ensuring that every financial metric is accurately captured. Integration-wise, Inn-Flow connects with renowned PMS (property management system) solutions, POS systems, and even QuickBooks Online, further facilitating the workflow of business owners.

Pros and cons

Pros:

  • Customizable reporting tools enabling informed decisions based on data
  • Strong integrations with leading PMS and POS systems
  • Tailored features for the hospitality industry, aiding hoteliers in detailed financial tracking

Cons:

  • Smaller establishments might find some features excessive for their needs
  • Initial setup might require some time due to its comprehensive feature set
  • May not be suitable for industries outside of hospitality

Best for automated spend management

  • From $20/user/month.

Ramp is a cloud-based financial solution that focuses on streamlining and automating business expenditure. With its robust automation features, it has emerged as a reliable platform for businesses looking to gain greater control over their spending, aligning well with the notion of it being 'best for automated spend management.'

Why I Picked Ramp: In the vast sea of financial tools, selecting the right one can be challenging. Upon comparing various platforms, Ramp's commitment to automated spend management was evident and distinct from the rest. I chose Ramp primarily because of its clear alignment with the need for automated solutions in managing business expenses. Its emphasis on spend automation validates its stature as being 'best for automated spend management.'

Standout features & integrations:

Ramp offers powerful automation tools that reduce data entry and improve workflow efficiency. Its financial reporting features, paired with an intuitive bookkeeping system, allow business owners to make informed decisions with real-time financial data. Moreover, Ramp integrates smoothly with various accounting systems, including QuickBooks Online, various CRM apps, and other cloud-based accounting software, ensuring the flow of data across platforms.

Pros and cons

Pros:

  • Robust integration capabilities with leading accounting and CRM solutions
  • Real-time financial reporting for precise insights and informed decisions
  • Strong emphasis on automation tools that simplify spend management

Cons:

  • Potential limitations for niche industry-specific needs outside of general business expense management
  • Certain modules might come with a steeper learning curve
  • Might be overkill for small businesses with minimal expenses

Other Hotel Accounting Software

Below is a list of additional hotel accounting software that we shortlisted, but did not make it to the top 10. Definitely worth checking them out.

  1. NetSuite ERP

    For end-to-end business management

  2. Sage Intacct

    For scalable financial operations

  3. FreshBooks

    Good for freelancers and small businesses

  4. A2X

    Good for e-commerce accounting integration

  5. Airbase

    Good for spend management and approvals

  6. Rossum

    Good for AI-powered data extraction

  7. Gusto

    Good for payroll and HR services

  8. Sage 50cloud

    Good for combined desktop and cloud accounting

  9. Zoho Books

    Good for intuitive financial management

  10. AvidXchange

    Good for automated invoice processing

  11. FreshBooks

    Good for freelancers and small businesses

  12. Acumatica

    Good for cloud ERP needs

  13. M3 Accounting Core

    Good for hospitality-specific financial management

Key Features To Look For In Hotel Accounting Software

When shopping for hotel accounting software, consider the following essential features:

  • Financial Transaction Handling: Ability to process check-ins, check-outs, and room charges.
  • Employee Management: Track employee hours, commissions, and payroll.
  • Reporting Tools: Gain insights with comprehensive reporting capabilities.
  • Invoicing Capabilities: Streamlined billing processes for guest stays and services.
  • Inventory Management: Oversee inventory levels, purchasing, and vendor interactions.
  • User Experience: User-friendly interfaces and customization options to fit your hotel's needs.
  • Affordability: Find a solution that provides value for its cost.
  • Support: Access to prompt and helpful customer support in case of issues.

Always prioritize your hotel's specific requirements when evaluating these features.

Most Common Questions Regarding Hotel Accounting Software (FAQ's)

What Are The Benefits Of Hotel Accounting Software?

So, what are the benefits of using hotel accounting software?

Well, for a start, hotel accounting software can help you manage your finances more effectively. It makes it easier to keep track of your income and expenses and can help you save money in the long run.

Some of the benefits of using hotel accounting software include increased efficiency and organization, improved customer service, and decreased financial risk.

Hotel accounting software can also help you streamline your operations. It makes it easier to manage your reservations and bookings, as well as track your staff hours and payroll. This can save you time and money in the long run.

Finally, hotel accounting software can help you improve your customer service. It makes it easy to track customer data and preferences, which can help you provide a more personalized experience.

So, as you can see, there are many benefits to using hotel accounting software. If you’re looking for a way to improve your business, then this is definitely something worth considering.

How Much Does Hotel Accounting Software Usually Cost?

When it comes to purchasing hotel accounting software, you’ll find that the prices vary greatly. Generally, you can expect to pay anywhere from $100 to $1,000 for a good program.

Most hotel accounting software packages cost between $200 and $1,000, but there are a few free programs available as well.

When shopping for software, be sure to consider the features that are most important to you. A few key features to look for include invoicing, tracking employee hours, and tracking inventory.

Also, be sure to ask the software company about their return policy and customer service. You’ll want to be sure that you’re able to get help if you need it.

Other Hotel Revenue Management Software

Here are some other useful tools for hotel revenue management.

What Next?

Don't forget to browse around the site for more great hotel management tips, templates, and tools. Plus, join The Hotel GM newsletter for expert tidbits sent right to your inbox!

Cory Masters
By Cory Masters

Cory Masters is a dynamic professional with 10+ years of experience working across hotel and hospitality management, accounting, financial management, office management, and operations. She's passionate about elevating other professionals in the community, using her 4 years as an Assistant Hotel Manager at Four Seasons to share the lessons she's learned about managing guest interactions, reservations, hotel staff, hotel services, hotel management systems, and more.