In the hospitality industry, high priority is given to customer satisfaction. It is highly dependent on the availability of leisure time and disposable income. People are spending more on experiences, and hence hospitality is growing. The hospitality industry consists of 4 sectors – lodging (accommodations), food & beverage, travel & tourism and recreation. But there are some challenges faced by the hospitality industry – lodgings and accommodations sector, which are –
In-house bookkeepers and accountants are not something which every small business in Hospitality Industry can afford. For a small business, it is an overhead expense, and it has a long-term cost implication. Also, you lose out on operation space as it is used for workstations, placement computer system and so forth.
Lodging and accommodations might not have any guest for a while in off-seasons while there might not be any vacancy available in peak seasons. The revenue is quite fluctuating.
The industry gets very quickly affected by external factors like how it is affected by COVID-19 right now. People do not travel during such event as the industry is highly dependent on the availability of leisure time and disposable income. It can suffer significantly to the extent that a lot of small businesses have to close their operation.
Having provided accounting and bookkeeping for the hospitality industry for a decade now, we at Whiz Consulting understands how the industry and its different sectors operate. We also have provided service to different sectors and understand that Accounting and bookkeeping services in the hospitality industry are quite challenging. And so, with our service, we help you to tackle the challenges of bookkeeping for hospitality.
You can take advantage of a group of experts qualified accountants at Whiz Consulting. These experts will assist you at every step of your accounting and bookkeeping. When you outsource your accounting and bookkeeping functions with us, you can be assured that you can start focusing on your core activity and also reduce your overhead expense.
For times like now, where the hospitality industry is halt due to COVID-19, our service will help you survive by helping you to reduce the human resource cost on the accounting department. In a general scenario, our service help reduces your dependency on resources like physical space and payroll for hiring an in-house accountant.
At Whiz Consulting, we provide you with the capacity to focus on the core function of your organisation as we help you by taking care of your accounting and bookkeeping services in the hospitality industry. If you are looking for Accounting and Bookkeeping services, here is why you should choose us -
With over a decade of experience and technical know-how of the industry-specific requirements, our team will assist you to streamline your accounting, bookkeeping and taxation process.
An expert professional bookkeeper and accountant with high experience and in-depth knowledge of the hospitality industry can cost you 70% more as compare to hiring our service.
We make sure your business is compliant, helping you to avoid legal issues or penalties. We do so with ease as we familiar with the accounting principles as well as existing rules and regulations prevailing to the industry.
You can reach out to us for any query, and we provide boundless phone and e-mail consultations with our experts, and they will prepare a customised plan for you based on your particular business needs.
We help bring scalability with our services like KPI, Virtual CFO etc provided by experts, as we take care of your vital function, you can focus on your core function.
You can make use of the regular detailed financial reports and also customised reports as and when required. These reports help you to make crucial financial decisions.