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Hotel Management Accounting

  • 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