Get up-to-date and accurate financial status of your hotel
Are you still managing front desk and financial accounts with two different pieces of software? Are you still using spreadsheets for your day-end collection reports? It’s time to upgrade to FusionPMS.
Manage financial accounting, easily and accurately, the modern way.
Hotel back office accounting is a complex task as financial transaction related to each reservation is spread over days and different departments. An operational hotel generates tremendous data linked to multiple activities. The management, tax authority, business auditors and investors need to know the financial status of a hotel in terms of income, expenditure, assets, liabilities and profits.
FusionPMS, is one of a very few PMS software that comes with an integrated real-time multi-user accounting system. It provides processed feedback to management to evaluate performance and take necessary actions. It helps to maintain good accounting processes to hand away responsibilities from one to another, one generation to another.
Integrated and Centralized Accounting System
Real time accounting of PMS transactions
The room charges posting, POS transaction posting, advances and payment are recorded in real time. It also helps you record and control expenses, purchase, inventory management and payroll in a centralized accounting system.
Direct Bill and Accounts Receivable
Third party billing, payment reminder letter, account confirmation statement etc
Hotels often need to deal with company billing and travel agent billing. It is important to collect the payment from them on time and accurately. FusionPMS accounts receivable includes direct billing, invoicing, outstanding account aging and bill-wise payment. It also provides payment reminder letters and account confirmation statements.
Accounts Payable with Aging
Account payables along with age and interest payable on dues
A large number of product inventories are required to be maintained by the housekeeping department for cleaning and servicing. The housekeeping inventory includes cleaning material, bedding, toiletries, kitchenware, glassware, stationery, coffee supplies and minibar items.
Income and Expenditure Management
Record expenditure and journal entries, such as depreciation, to get a clear picture of financial status
With FusionPMS, the sale of rooms, F&B and other products, along with related receipts are instantly recorded in the revenue system. It removes the need of recording the reservation and sale activities again in the accounting system. It also allows you to record expenditure and journal entries, such as depreciation, to get a clear picture of financial status.
Cash Book, Bank Reconciliation, Fund Flow and Cash Flow
Stay up to date as bank, be informed instantly about fund flows
Many savvy hoteliers know that solvency is equally as critical for a hotel as profitability. Guests may make payment against the room charges and sale of other products using various methods such as cash, credit card, cheque or charge. This results in many back office activities, such as depositing the cash and cheque to bank, updating credit card entries in bank account and reconciliation of bank statement with bank book. FusionPMS helps you to easily maintain up-to-date cash book and reconciled bank book. It also helps you to know the application of funds and borrowing requirement for a period.
Cost Centres, Trial Balance, P&L and Balance Sheet
Trial Balance, P & L, Balance Sheet and cost center based voucher
The back-office accounting is also responsible for preparing the budgets, department-wise income -and-expense statement and cost center based voucher entry. FusionPMS accounting helps you with up-to-date trial balance, P&L and balance sheets.
Easy taxation with all required details for filing return
FusionPMS helps you prepare the tax returns that need to be submitted with government or other legal organizations.
Key Performance Indicators
Know return on investment and return on working capital
FusionPMS provides key performance indicator related to principal groups, principal ratios and payment performance of sundry debtors. It also helps you to know return on investment and return on working capital, along with interesting insights, such as comparison of operating cost with respect to total revenue.
Audit to ensure integrity and accuracy
Since the hotel operations generate tremendous accounting data, it needs to be properly audited to ensure integrity and accuracy. FusionPMS helps auditors to review each transaction and lock it with their comments.