6 Best Hotel Accounting Software (2024)

Every hotel has many accounting to do, which may be stressful as it may take charge of all the income and expenses from the lots of checking-ins, checking out event management. According to Financeonline statistics, more than 91,000 hotels and motels in the US generate up to $194 billion in revenue yearly. This further shows the presence of complex accounting to manage such huge finances. Therefore, hotels need the best high-end performance accounting software to take care of this problem.

While there are many accounting software in the market, and as a hotel manager or accountant, it might be tricky or confusing for you to select the best accounting software that would best fit your hotel business. There is some specific top accounting software that a large majority have identified to be the best for the company over the years.

Hence, in this post, to make it hassle-free for you, help you make a better-informed decision on your selection, and simple for you, we will list out the best hotel accounting software. These will help you optimize your efforts, track your time, income, expenses, and be at the top of your bookkeeping and accounting for your hotel business.

Upfront Conclusion

The best hotel accounting software right now is Freshbooks and Sage.

Top 6 Best Hotel Accounting Software

In our research to understand the top choice, we can recommend to you for your hotel bookkeeping and accounting, we analyzed the various best hotel-specific accounting software. These are the top 6 best.

1. Freshbooks -ideal double-entry accounting for hotels.

2. Sage Intacct – top customer support accounting software.

3. Nimble Property – overall best hotel accounting software

4. M3 – best hotel accounting software for scalability

5. MYOB – best tax accounting software for hotels.

6. Omniboost -most easy-to-use accounting software.

1. Freshbooks – Top Easy-to-use Hotel Accounting Software

Freshbooks is one of the most Cloud-based popular accounting software, and it offers a lot of functionalities. However, its double-entry features and easy-to-use interface makes it one of the best hotel accounting software. It also has one of the best compatibilities with mobile devices.

Does your hotel need reliable accounting and billing software? If yes, then Freshbooks is the right option for you.

Pricing

Freshbooks pricing plans include the following;

Lite plan: $4.50 and $108 for the monthly and yearly

Plus plan: $7.50 per month and $180 per year.

Premium plan: $15 per month and $360 per year

It also offers you 30 days of a free trial.

We recommend you buy the premium plan as it offers top features for a hotel and 7s also a good value for your money.

Features

It lets you handle payments upfront.
Freshbooks gives you user-friendly customization of your invoices, receipts, and reports.
It offers you an excellent billing experience from damages fees to conference room rentals.
Tracks payments and also set automatic payment reminders for you.
Freshbooks saves you time for a lot of your hotel management processes.
It also facilitates secured online payments as well as a lot of customizable features.

Why Do We Recommend Freshbooks as One of the Best Hotel Accounting Software?

We strongly recommend Freshbooks as it gives you top-notch double-entry features, which will provide you with an insightful view of the hotel’s financial performance. Its mobile app will make you be able to be updated, send invoices, and review reports even on the go.

Try Freshbooks

2. Sage Intacct – Top Customer Support Accounting Software for Hotels

Sage Intacct is one of the best hotel accounting software you can see in the industry, and from our research, it has the best customer support service among these accounting software for hotels. While its offers you accounting and bookkeeping management solutions, Sage Intacct also provides you with the information, tools, and resources to strengthen your financial operations.

Pricing

Sage Intacct’s pricing is quote-based, and you will have to call and select the features. It is through this that you will get a price.

It also offers you a 30 free trial, and you also schedule a product demo.

Features

It provides you with an excellent chart of accounts.
With Sage Intacct, your hotel staff can also view and get the best information concerning other branches and properties.
It also lets you automate most of your processes.
Sage Intacct helps you keep in line with the evolving revenue recognition requirements.
It tracks payments to your hotel and also gives you real-time performance tracking.
You can easily see everything with its optimized dashboard.

Why Do We Recommend Sage Intacct as One of the Best Hotel Accounting Software?

We strongly recommend Sage Intacct not just because of the excellent cloud-based Integration, payroll management, time and payments tracking, etc. It provides hotels with one of the best features. Because of its top-notch customer support, it has earned the top customer support service from G2.

Try Sage

3. Nimble Property– Overall Best Hotel Accounting Software

Nimble Property is an all-in-one cloud-based accounting software developed for hotels in mind. From our research, it is the best hotel accounting software as it offers a robust combination of easy-to-use features, automation, Integrations and lets you be at the top of your hotel’s finance. Its excellent features include AP automation, enterprise solution, business intelligence, payroll management, among others.

It doesn’t only help you with managing your finances but also budgeting and other impeccable functionalities.

Pricing

Nimble Property accounting software pricing starts at $250 per month. There is no free trial, but you can also request a demo.

Features

It lets you track your payments.
You will get insightful industrial-specific reports and statements.
It also gives you access and management of all your 1099 vendor listing with just a few clicks.
You will have access to a customizable KPI dashboard that lets you stay in sync with your transactions and the hotel’s performance across various indexes.
It automatically carries out bank reconciliations of your transactions and connects your bank accounts.
Bill payment automation takes the hassle out of your hands.
It features incredible inventory tracking for your hotel that aims to increase your profit.
Nimble Property accounting software lets you manage your properties or hotel branches from one dashboard.

Why Do We Recommend Nimble Property as the Best Accounting Software?

Nimble Property accounting software is an all-in-one cloud-based accounting software, and that makes it the top best software from our research. It has all the features you would want to effectively and efficiently manage your hotel’s finances. Starting from a customizable, easy-to-use interface, quick and easy set-up to impeccable scalable functionalities, and fantastic support, among others, it has it all, which is why we recommend it.

4. M3 – Best Hotel Accounting Software for Scalability

Generally, for the hospitality industry accounting but exceptionally good for hotels, M3 is one of the best hotel accounting software on our list. Since 1998, this software has been offering hotels business solutions in accounting and bookkeeping to keep them at the top of their finances. With this experience, M3 can be of enormous value to you with actionable insights to drive your hotel’s financial performance.

Pricing

You will have to call in for a price quote that depends on your hotel’s size, number of workers, etc. You can, however, also schedule a product demo.

Features

It offers you some of the essential accounting solutions, such as bank reconciliation with all your hotel transactions.
M3 also gives you an excellent view of profit and loss and balance sheet reports of your hotel’s finances.
You will have access to a customizable dashboard. This dashboard is easy to use and understand.
You will also have access to customer support that will help you sort out both technical and accounting issues.
It helps you with account payable, cash management, and financial reporting.

Why Do We Recommend M3 as One of the Best Hotel Accounting Software?

M3 is Widely used among hotel managers because not its scalability, which is why we recommend it. Once you start using M3, you always continue using it over the years, mainly because it grows with you. Hence, it is also suitable for small, startup hotels.

5. MYOB – Best Tax Accounting Software for Hotels

MYOB a cloud-based accounting software that is well known for its host of features. From our research, MYOB Ais best used among hotels because of its full tax accounting functionalities that take the hassle out of your hands. It also offers other features, including payroll management, management solution, etc. It is also both user-friendly, easy to use, and robust.

What’s more? You can access it on your mobile, PC, or desktop.

Pricing

Its pricing plans include the following;

Essentials payroll: $10 per month

Accounting starter: $50 per month

Accounting plan: $48 per month

Accountingright standard: $70 per month

Accountingright Plus: $109 per month

Accountingright Premier: $150 per month.

It also offers you a 50% discount for all the plans except the Essential Payroll plan in the first three months. You will also get 30 days free trial.

We recommend that you start with the ‘Accounting starter’ plan as it has most of the basic features your hotel would need as it is also an excellent value for your money.

Features

Its compatibility with mobile devices makes it possible for you to stay updated on your hotel’s financial performance even on the go.
MYOB is excellent at tax calculation and reporting with simplified BAT and GST Calculation for you.
It enables multi-currency accounting to help if you are dealing with more than two branches across countries.
Its Integrations and add-ons make for easier and faster online payments
It offers advanced inventory management for your hotel.
It gives you perfect expenses, income, and expenses tracking.

Why Do We Recommend MYOB as One of the Best Hotel Accounting Software?

We strongly recommend MYOB because of its excellent functionality in tax accounting and reporting. You will start perfectly up-to-date with your tax payment, and it automatically updates your tax tables, calculates your PAYG, GST, BAT, and run custom reports. Tax calculation will get to be fun – isn’t that sweet?

6. Ominboost – Most Easy-to-use Hotel Accounting Software

Omniboost is cloud-based accounting software that offers hotels, restaurants, and bars easy automation of their management and accounting processes. Coming last in our list of the top 6 best accounting software, it has earned its place here because of its easy-to-use, user-friendly interface. It also offers you integrations that optimizes your hotel accounting experience.

Pricing

You can reach out to customer support for a quote of prices. There is no offered free trial or free version.

Features

It saves you a lot of time.
It also offers you over 200 Integrations with major hotel industry apps and software that give hotel accounting and management the best.
Omniboost also offers multi-currency and invoicing, which is good if your hotel is a multi-national one.
It tracks your time, expenses, and parents effectively.
Includes account payable and receivable.

Why Do We Recommend Omniboost as One of the Best Accounting?

There are so many reasons to recommend Ominboost accounting software. Still, we advise, but it’s a top easy-to-use interface that simplifies most of your processes for you. In addition to this, it offers seamless Integrations that automate your accounting processes at a fantastic speed.

Last Tip

With many customers and activities that tend to go on in hotels, hoteliers need superior accounting software to manage their hotel’s finances. Though the problem or confusion that comes, you have to select the best accounting software to use. It is not insurmountable.

In this post, we have listed the top 6 best hotel accounting software that you can use to manage your finances and automate and optimize your hotel management processes. Starting from Nimble Property- the overall best hotel accounting software to M3, Sage Intacct, MYOB, Omniboost, and Freshbooks, we list out the best options available to you as well as their pricing plans features, etc. It would be best if you considered our recommended pricing plans.

As a last tip, we recommend that even as you make your decision among these top 6 best, you choose the most appropriate option that matches your hotel’s budget, size, and if your hotel has multiple locations in and out of the United States.

Taking these into consideration will give you the perfect accounting software fit for your hotel, and soon you have back the fun of managing and accounting your finances back in your hands!