Accounting services offered can either be on the client's accounting platform, or we can assist the client in selecting a platform. Our approach will be to identify the scope of work and then collaborate with the client's team to implement and deliver results. Broadly speaking, we offer the following services:
- Asset Management Services
Our services include the following:
* Pre-opening Budgets and Schedules
* Monitoring Pre-opening Costs and Working Capital
* Design and Development of Multi-brand Financial Statements
* Monitoring of Capital Expenditure Schedules
- Month/Period End Processing & Reporting
Our services encompass the following:
* Balance Sheet
* Consolidated Income Statement
* Income Statement by Department
* Cash Flow Statement
* Sales Summary to Budget Report
* Monthly Variance Report
* Statistical Report
* Monthly Payroll Recap Report
- General Ledger Postings, Reconciliations and Closings
Being the foundation of our accounting services, we work to preform and reconcile the following:
* Bank Reconciliations
* Payroll Journal Entries
* Asset and Liability Account Reconciliations
* Balancing of Hotel Ledgers i.e. Guest, City and Advance Deposit ledgers
* Balancing of City, State, Local and Municipal Taxes
* Intercompany Postings and Reconciliations
* Automation and Posting of Recurring Journal Entries
* Cash/Petty Cash Reconciliations
* Inventory Postings
* Gift Certificate Reconciliations
* Trade Out Balancing
- Prepaids and Accruals
Monthly posting of both as listed below:
* Utilities
* Insurances
* Property Taxes
* Mortgage, Interest and Reserve Accounts
* Sales and Marketing Promotions
* Uniforms, Bulk Supplies and China/Silver/Glassware
* Management and Incentive Fees
* Franchise and Related Brand Fees
* Travel Agent Commissions
* Paid Time Off
* Maintenance and Prepaid Contracts
* Bonus Calculations and Postings
* Bad Debt Postings
- Payroll Reconciliations and Postings
We work with all third party payroll companies to reconcile and post your payroll. If the payroll system has an export feature, we can work to prepare a payroll journal entry that can the be imported into the accounting platform. We can help work with the payroll company to build a labor report to assist with cash flows.
- Daily Revenue Report
Hospitality accounting specific software platforms usually have a module that helps automate (through mapping with the PMS/POS) the daily revenues that can be pulled directly into the accounting system. If the accounting software has this capability, we can assist in setting it up and maintaining it on a monthly basis. If not, we can use Excel to build a manual import of revenues on a daily basis and setup a Daily Revenue Report for management.
- Account Payables
We offer full accounts payable services to our clients that are comprised of the following.
* Vendor Set-Up and Maintenance
* Attaching of invoices if accounting system permits
* Periodic/Weekly Ages Invoice Reporting
* Accounts Payable Trial Balance Reporting
* Weekly/Periodic Check Printing and Mailing
* Check Register Printing
* Vendor Statement reconciliations
* Form 1099 and 1096 Printing and IRS Reporting (annually)
- Purchase Order Processing
If the accounting system can be integrated with a P.O. system, then we can offer the following support:
* Generation and Printing of P.O.'s
* Attaching of Invoices to the P.O.'s
* Open P.O. Inquiry Report
* P.O. Recap Report
* Audit of P.O. Approval Process
- Miscellaneous Financial Reporting
We can work with our clients on a number of customized reports, some of which are listed below:
* Annual Budgets
* Periodic Forecasts
* Cash Flow Projection Report
* Periodic Cash Situation Report
* Customized Payroll/Labor Reports
* Hotel Opening or Closing and Disposition reporting
* Fixed Asset Accounting to cover Amortization and Depreciation (in conjunction with the
client's CPA)
- Period Audits
GlobalHAS Inc. can provide periodic accounting and hotel function audits for clients and recommend changes if necessary. Areas focused on include:
* Accounts Receivables
* Accounts Payables
* Cashiering and Banking
* Income Audit
* Food and Beverage
* Sales
* Front Desk and Housekeeping
* Sales
* Repair and Maintenance
* Human Resources and Payroll
* PCI Compliance
* Miscellaneous Property and Risk Management
- Setup and Training
GlobalHAs Inc. has a specialized team that assists the client in selecting an accounting platform that meets their needs, then helps them build a standard (USALI 11th edition) compliant database and finally trains the client's accounting department in the use of the system. This is done on a retainer basis, and while most of our clients use our remote training option, we also offer onsite trainings at the time the client is migrating to a new hospitality accounting system.
- Import of Prior Financial Information
For clients that are migrating between accounting systems, we offer to assist them with this process, by bringing in prior and current year financial, statistical and budgetary information in order to display comparative data on their financial statements.
Copyright © 2023 Global Hospitality Accounting Services - All Rights Reserved.
Powered by GoDaddy Website Builder
