The Best Hotel Accounting Software of 2024

Author img Jordan Hollander
| Last updated
37 PRODUCTS REVIEWED
960 HOTELIERS SURVEYED
We’ve surveyed 960 hoteliers across more than 28 countries to understand which are the best Hotel Accounting Software vendors, along with everything you need to know in order to buy the right Hotel Accounting Software for your hotel (including our 2024 Hotel Accounting Software Guide). We also aggregate key decision criteria data including integration availability, partner ecosystem, expert recommendations and more (learn more about HTR’s ranking methodology).
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In-Depth Guide
What is Hotel Accounting Software
Finding the right Hotel Accounting Software solution for your hotel depends on several variables ranging from user experience and pricing to functionality and support. This guide is designed to help you identify the best Hotel Accounting Software vendors, questions to ask on demos, read unbiased reviews from similar hoteliers and so much more. (including our 2024 Hotel Accounting Software Guide)
Hotel Accounting Software Vendor Shortlist
Each property has different characteristics, needs, preferences and budgets. Use the filters below to instantly analyze thousands of reviews to find the perfect fit for your hotel.

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  • Featured: Vendors can subscribe to become Premium Members on HTR. This option sorts the directory first by Premium Members and then by HT Score.
  • Ht Score: The Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, customer support, user reviews, expert recommendations, integrations availability and geographic reach to help buyers better understand their products.
  • Popularity: Sorts listings by number of user reviews and reported installs, most to least.
M3
4.4 (437 reviews)
Ht score logo 100 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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winner logo badge 2024 WINNER
Hoteliers voted M3 as the #1 Hotel Accounting Software provider in the 2024 HotelTechAwards
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Accounting software and service to power hospitality company performance
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Aptech
4.7 (171 reviews)
Ht score logo 95 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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second finalist logo 2024 FINALIST
Hoteliers voted Aptech as the #2 Hotel Accounting Software provider in the 2024 HotelTechAwards
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Next generation cloud based hospitality accounting software.
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Inn-Flow
4.8 (136 reviews)
Ht score logo 94 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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third logo finalist 2024 FINALIST
Hoteliers voted Inn-Flow as the #3 Hotel Accounting Software provider in the 2024 HotelTechAwards
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One Solution. Built for Hotels.
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Omniboost
4.6 (39 reviews)
Ht score logo 79 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Hospitality Tech Made Easy
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Otelier
4.5 (104 reviews)
Ht score logo 44 Ht Score
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Streamline night audit compliance across your portfolio
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IDeaS
4.5 (22 reviews)
Ht score logo unranked
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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IDeaS RevPlan takes the pain out of budgeting and forecasting total revenue
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Fairmas
4.6 (21 reviews)
Ht score logo unranked
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Fairmas - Your 360° Hospitality Financial BI Solution
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Hotel Investor Apps
4.3 (15 reviews)
Ht score logo unranked
Hotel Tech Score is a composite ranking comprising of key signals such as: user satisfaction, review quantity, review recency, and vendor submitted information to help buyers better understand their products.
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Total Back-Office ERP Designed for Hospitality
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Sage
Real-time financial visibility and efficiency for hotels and lodging.
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Otelier
Streamline the financial planning process
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BENEFITS
What are the Benefits of Hotel Accounting Software?

Accounting software will pull information from multiple sources via strong integration networks and put that information on an easy to consume dashboard where a user can process and act on information gleaned in seconds instead of hours. Back-office daily tasks like payroll and property management can be sped up through automation in line with standard accounting procedures – and more importantly those daily tasks can be streamlined among multiple users in a consistent and manageable process. Dashboards with powerful reporting capabilities can give valuable insight into trends and desired baselines, and the user can then use those reports to develop actionable insights on expenses such as labor bloat or overpriced operating items, but can also provide clarity on what increases profits and allows for a higher Per Occupied Room. Overhead can essentially be reduced and bottom-lines increased.

Hospitality companies must oversee and manage a bevy of departments, revenue streams, and expenses. Reservations, room service, food and beverage and banquets, sundries and any number of guest amenities have to be managed as well as operational costs itemized to the line. A strong accounting platform will help hoteliers track and analyze these data points as well as allow for more transparency within their operations including where costs can be slashed, and profit maximized.

Accounting software can help hoteliers identify trouble spots which can be eliminated or mitigated, as well as efficiencies which can be mimicked and replicated. This allows for common-sense revenue increases. 2Increase Revenue By having your data protected and accumulated in a software system, reporting functionality is easier to consume and yet the capabilities of the system are more complex than ever before. With powerful technology, you can more easily study trends and take action based on the trends your data shows.

Every hotel in the hospitality industry should consider investing in hotel accounting software right now. Hotel accounting software offers essential functionality tailored to the specific needs of the hotel business, making it a valuable asset for hoteliers and hotel management.

Here are some key reasons why hotel accounting software is crucial for the hotel industry:

  • Streamline Accounting Processes: Hotel accounting software automates accounting tasks, including invoicing, accounts payable, and accounts receivable. This automation saves time and reduces the risk of human error, allowing hoteliers to focus on core operations.

  • Real-time Financial Management: Hotel accounting software provides real-time access to financial data, enabling hotel owners and managers to monitor cash flow, track revenue streams, and make informed decisions promptly.

  • Forecasting and Budgeting: With advanced forecasting and budgeting tools, hotel accounting software helps in predicting future revenue, occupancy rates, and operational costs. This assists in setting room rates and budget planning for maximum profitability.

  • Business Intelligence: Hotel accounting software offers business intelligence tools that analyze data from various sources, including point of sale (POS) systems and property management systems. This data-driven approach helps in optimizing pricing strategies and increasing revenue per available room (RevPAR).

  • Customizable Chart of Accounts: Hotel accounting software allows for customizable chart of accounts tailored to the specific needs of different hotel chains and properties, ensuring accurate financial reporting.

  • Consolidation and Reporting: For hotel chains with multiple properties, hotel accounting software simplifies consolidation of financial data from various locations, providing a comprehensive view of the entire business. It also generates detailed financial reports, including balance sheets and profit and loss statements.

  • Ease of Use: Many hotel accounting software solutions are designed with an intuitive interface, making it accessible to small business owners and hoteliers with varying levels of accounting expertise.

  • Case Studies and Success Stories: Numerous case studies highlight the benefits of hotel accounting software like Sage Intacct, QuickBooks, M3 Accounting, and others, showcasing improved profitability and streamlined back-office operations.

 

Hotel accounting software is a powerful tool for the hotel industry. It helps hoteliers manage their finances efficiently, make data-driven decisions, and ultimately improve the bottom line. Investing in hotel accounting software can be a game-changer for hotel businesses looking to thrive in a competitive market.

FEATURES
What are some of the key features to look for when choosing a reporting & accounting software solution for your hotel?
  1. Automatic Daily Report: An automatic daily report, one that maps to the PMS and pulls data directly into your accounting platform is one of the most beneficial components to any accounting solution. By automating this process you can save up to half an hour a day, per hotel. Not to mention, you are more likely to avoid human input errors which can cause countless delays and costly errors to your final analysis.
  2. Customized Reporting: Allows customers to report data in a way that makes sense for their organization. Consolidated reporting at the enterprise level, department specific reporting, and line item reporting all matter to different people at various levels of the organziational chart.

  3. Intercompany functionality: When management companies can enter expenses at the enterprise levels and those inputs funnel down to the property level. Shared expenses can divided out between properties at the appropriate level and don’t require property level input.

  4. Intelligent Imaging: OCR technology that reads the invoices, and then the module learns the customized workflow for invoice entry which saves time, money, and ensures accurate invoices for payment. The invoice can then be emailed to a specific email which automatically uploads it into the accounting core application.

  5. Permissions based access and reporting: This gives organizations the ability to see accounts that influence and matter to their day-to-day needs versus those that need limited access to protect confidential information.

PRICING
What are the typical pricing models and ranges that I should budget for?
  1. Implementation Expense. There shouldn’t be any implementation costs at all unless you require custom integrations.

  2. Monthly Subscription. Hoteliers should expect prices to vary based on integrations and other complex functionality requirements. Some hoteliers choose to purchase hardware but it is becoming more popular to rent.
IMPLEMENTATION
What does the typical implementation timeline and process look like to go live?

Implementation can vary by property.  Make sure you understand the time, pain points and costs associated with an implementation. It is often during this process where you will quickly understand if you have a true partnership, or catch and release program.

FAQs
Hoteliers Also Ask
M3 is the best hotel accounting software as rated by hoteliers on Hotel Tech Report. Having said that, different users prefer different software. For example, small businesses that just need basic balance sheets, chart of accounts, receivables, general ledger and financial data in an intuitive layout may be totally fine going with a simpler solution like Xero or Freshbooks. Having said that large enterprise multi-property portfolios have complex specialized business needs and can save tons of time and resources going with a vendor like M3.
Hoteliers should not have to tell a software vendor how to configure their software specific to the hotel management industry, nor should they have to write their own formulas for calculations as basic as ADR, PAR, etc… Systems should be inherently “intelligent” enough to provide data entry and export in ways in which hoteliers understand it. It is no longer realistic to adopt platforms that are marketed to dozens of industries and think it will “work for hospitality”. Hotel accounting software helps hotel industry businesses better understand cash flow, forecasting and accounts payable in real time where generalist account software can't since these accounting systems don't integrate with key hotel software like POS, PMS, etc. which means all reconciliation happens on a delay. Clean real time accounting data will streamline decision making which is a result of using a dedicated industry specific accounting solution. Financial reporting metrics like profitability and cost per occupied room must be adjusted in ways that are specific to the hotel industry where general platforms like Quickbooks or Xero may take lots of customization and work. Business owners are wise to demand any software solution has case studies in the hotel industry and purpose built workflows for hotel owners.
- Millennial Workforce: For an industry jam-packed with technology-based trends, millennial employees play a critical role in helping to identify valuable trends as well as negative trends in need of adjustment. The next few years will prove to be critical for hospitality industry employers to harness the potential of employees in this age range or risk getting left behind or over investing in archaic solutions. - Software Consolidation: Now, more than ever, hoteliers need their software all under one roof. Gone are the days of selecting the best accounting, finance, business intelligence, labor management and analytics software vendors and trying to “integrate” them. Hoteliers will search for companies that provide it all, removing the need for them to maintain IT staffs and large infrastructure budgets to keep them all tied together. - Shift to Outsourcing: As hoteliers strive to deliver positive results to ownership, they will consider outsourcing non-customer facing functions, this includes the day to day accounting and bookkeeping functions. Software will be delivered as part of an overall accounting and finance solution, generating efficiencies and economies of scale.
Hotels require hospitality-specific accounting software to effectively manage their finances and operations. Hotel accounting involves a variety of unique financial activities, including revenue management, room rates, occupancy rates, and revenue streams. Hospitality accounting software is designed to streamline accounting processes and provide real-time financial reporting to help hoteliers make informed decisions. Hotel accounting software enables hoteliers to manage their day-to-day accounting functions, including bookkeeping, financial reporting, budgeting, forecasting, and cash flow management. It provides a range of accounting services, such as accounts payable, accounts receivable, and financial statement preparation, to help hotel owners and managers stay on top of their financial management. Hospitality accounting software can integrate with other hotel operations, such as front desk and room service, to provide a comprehensive view of hotel operations. It also integrates with property management systems to ensure that room rentals are accurately accounted for. Cloud-based hotel accounting software provides hoteliers with the ability to manage their finances from anywhere, allowing for greater flexibility in staffing and real estate management. Hotel accounting software can also help small businesses by automating accounting processes and reducing the need for full-time accounting staff. By using hospitality-specific accounting software, hoteliers can ensure that their accounting processes comply with accounting principles and are managed by a certified public accountant (CPA). The software provides real-time financial reporting and forecasting to help hoteliers make informed decisions about their financial management. Overall, hotel accounting software is essential for effective financial management in the hospitality industry. It streamlines accounting processes, provides real-time financial reporting, and helps hoteliers manage their day-to-day financial operations. Whether on-site or in the cloud, hospitality accounting software is an essential tool for hotel management.

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Similar to REVPAR for hotels, the HT Score is intended to be a normalizing metric to be able to better compare different vendors. Instead of rate and occupancy, the two prinmary drivers are a blend of review quantity and average ratings. Also similar to REVPAR, the HT Score is a metric to aid in decision making but is not intended to be used as a sole factor when selecting vendors.

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Choosing the right software for your hotel depends on dozens of variables many of which can be quantified based on the characteristics of your property but many of which also come down to personal preference. Is your hotel a small property with limited budget? Or is your property a luxury resort with lots of outlets and high ADR? HTR is designed to offer dynamic filters to quickly be able to personalize the data set to your characteristics. We also break down hotels into key segments/personas based on common property characteristics that typically service as indicators that drive similar product decisions which are intended to help you save time and quickly identify the best match for your hotel or portfolio.

While HTR’s data set is constantly growing making its recommendations more representative and accurate over time, our programatic recommendations based on the HT Score, data and segment popularity are intended to serve as a tool for you to leverage in the buying journey but do not replace thorough due dilligence and research. No two hotels are alike and most purchasing decisions also include personal preferences which is why we highly recommend that buyers consider a minimum of 3-5 vendors during the research processthat you get live demos and price quotes from to be able to make an informed decision.