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Hotel Management Accounting
From the Team...
Sandy BarnesVice President of Finance
"We pride ourselves on our highly effective and efficient financial controls and our ability to provide timely, accurate financial information to the management team, owners and lenders."
- Centralized, standardized accounting system
- Accounts Payable managed at local level
- Core financial statement formats consistent with the Uniform System of Accounts for the lodging industry
- Financial reporting flexibility utilizing COGNOS finance software
- Access to our preferred vendors which offer long-established relationships, competitive pricing plans, and cost reductions based on total volume of WCG managed hotels
- Services include:
- Credit card processing
- Bank accounts
- Armored services
- Cash vault service
- “Internal” audit program
- “External” audits (Ernst &Young)
- Property tax review (Thomson Tax Services)
- Tax preparation
- Insurance – property, liability, worker's compensation, health
- Cash management services – tracking/forecasting cash flows, online banking access, electronic payments
- High-caliber, well-trained, friendly corporate accounting staff
- In-house trainer available for training hotel accounting staff
- Seamless transitions – all aspects are handled, from operational issues to liquor license transfers and opening bank accounts
- Comprehensive online Standard Operating Procedure (“SOP”) manual
- Tight expense controls maximize bottom line without negative impact to the guest experience
- Maintain focus on achieving financial goals through timely, accurate financial information provided to the management team and ownership
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