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 –
Business has limited resource in terms of human resource and space. Hiring in-house bookkeepers and accountants means losing out on operation space for workstations, placement computer system and so forth, which can be utilized for operational purpose.
A 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. A 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 factor and in such case people do not travel. 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.
We have provided accounting and bookkeeping for the hospitality industry for over a decade now. We understands how the industry and its different sectors operate and we understand that Accounting and bookkeeping services in the hospitality industry are quite challenging. So, with our service, we help you to tackle the challenges of bookkeeping for hospitality.
At Whiz you can take advantage of a group of experts qualified accountants. Our experts will assist you at every step of your accounting and bookkeeping. By outsourcing 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, when the world is effected by COVID-19, the hospitality industry is at halt. Our service will help you survive by helping you to reduce the human resource cost on the accounting department. Otherwise 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 working with businesses in hospitality sector, we can assist you to streamline your accounting, bookkeeping, taxation and upsurge the productivity and lower down the taxes.
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.