Economical Hospitality Management Accounting Services
Ledgestone Hospitality provides financial support to our hotels through a variety of hospitality management accounting and finance functions. Our accounting services and standard procedures are integral to effective cost control and to increasing the bottom-line. We provide annual budgets, operating forecasts, and monthly financial statements to measure performance in robust hospitality financial management services. We oversee all cash management, financial statements and supporting documents including general ledger accounting and accounts payable.
Standard Accounting Procedures:
- Daily Cash Reports
- Cash flow analysis and forecasting
- Monthly Financial Statements
- Monthly Balance Sheets
- Management of Accounts Payable
- Weekly review of labor costs/flash reports/operating statistics
- Weekly review of expenses
- Annual budget preparation
- Revenue Management
- Payroll Processing and Reporting
- Tracking and elimination of unnecessary overtime hours
- Strict Accounts Receivable billing & collection
- Real Estate tax review
- Sales and Lodging Tax processing
- Scheduled review of profit & loss with owners
- Centralized accounting system
- Monitoring of daily cash and credit card deposits
- Corporate negotiation of all contract terms
- Automated travel agent commission accounting
- Franchise fee processing and review
- Three level weekly review of each invoice
Ledgestone's ability to make timely and educated decisions based on factual information provides our managers and customers a significant competitive advantage in hospitality financial accounting. Our Midwest approach to strict hospitality accounting standards and procedures will result in maximizing the profitability for each location in our portfolio.