Hospitality accounting

Comprehensive Hospitality Solutions provides accounting, bookkeeping and financial analysis services to clients in the Hospitality industry.

Hospitality accounting is unique. That is why we set ourselves apart.

  1. Other firms list Hospitality as one of their practice areas. Hospitality is our only practice area. We have in dept knowledge of the industry.
  2. Work is completed in the USA. Your books and records are not housed in some other Country. During business hours incoming calls are answered live. Your account Team is based in New York.
  3. We use state of the art software designed specifically for Hospitality. Each of our account managers has at least 5 years Industry experience. We understand your needs, can help resolve problems and assist in formulating your strategy.
  4. We offer true back office support. Don’t confuse what we do with simple bookkeeping. True support means most of your back-office work is performed by us:
  • Banking : We monitor cash accounts daily to ensure there are no fraudulent transactions or overdrafts.
  • Cash Flow Analysis : We project cash balances up to one month in advance and warn of potential shortfalls.
  • Low Cash Balances : When cash is short we assist in working out payment schedules. We also act as a buffer between you and your vendors in instances where cash flow does not allow them to be paid. Often dealing with a third party provides them with the assurance they need to continue providing services or making deliveries.
  • Accounts Receivable : We issue invoices, communicate on balances due and perform credit reviews.
  • Accounts Payable : We directly manage the vendor process. From applying for credit to negotiating terms, to receipt and processing of invoices, when vendors have a question they call us. It is our job to resolve it.
  • Bill Payment : We issue check payments upon your approval.
  • Payroll : We work closely with a low-cost payroll processing firm, or can work with any other and book entries properly so as to allow front of the house, back of the house, marketing and G&A labor cost analysis.
  • Recording Revenue : We categorize revenue according to classifications meaningful to you directly from any POS (Point of Sales) system.
  • Expense Analysis : We also record invoices with complete detail to allow for comprehensive analytics. Our expense analysis is designed to identify all spending and opportunities for savings.
  • Reporting : Reporting packages are issued for the month, Quarter and Year. These include financial statements along with a host of analytics to provide the necessary information to efficiently manage your business.
  • Tax : We prepare and file your Sales tax as well as annual Federal and State return(s).

The above is only a partial list of our services.

*** Please note services vary by package. Not all services listed above are included in all packages. ***

There are huge differences between the service we provide and other firms. We can readily identify these differences if you provide the name of the firm you are considering.