Hotels depend on robust accounting software solutions to effectively handle their financial activities. A complete hotel accounting software should efficiently monitor income and expenses, handle revenue administration, and generate financial reports. Furthermore, it should be able to manage payroll, staffing, room inventory, and bookings for multiple properties.
This article explores some of the most popular accounting software for hotels in 2023 to help you choose the best solution for your specific usage needs.
These are the nine hotel accounting software solutions that we will be looking at today:
- QuickBooks Online: Best for smaller hotels in need of assistance from local bookkeepers
- OASIS: Best for payroll
- NetSuite: Best for its customization capabilities
- M3 Accounting Core: Best for hotel groups with construction projects
- JD Edwards EnterpriseOne: Best for managing financial operations and accounting for hotels
- Sage Intacct: Best for growing hotel businesses
- Nimble Property: Best for comprehensive hotel management features
- Cloudbeds: Best for hotels in need of an integrated booking engine
- Hotelier Books: Best for budget hotels offering limited service
Comparison Table of Best Hotel Accounting Software
| Software | Pricing | Booking Engine | Bookkeeping Assistance | Mobile App |
| QuickBooks Online | From $30 per month to $200 per month | No | Yes | Yes |
| OASIS | Quote based | No | Yes | Yes |
| NetSuite | Quote based | No | Yes | Yes |
| M3 Accounting Core | Quote based | No | Yes | No |
| JD Edwards EnterpriseOne | Quote based | No | No | Yes |
| Sage Intacct | Quote based | No | Yes | Yes |
| Nimble Property | Starts at $250 per month | No | Yes | Yes |
| Cloudbeds | Quote based | Yes | No | No |
| Hotelier Books | From $169 per month to $249 per month | No | Yes | No |
Best Hotel Accounting Software in 2023
Let us look at what these solutions bring, their pros and cons, and their pricing details.
QuickBooks Online – Best for smaller hotels in need of assistance from local bookkeepers
QuickBooks Online is the preferred accounting software for small businesses and is ideal for independently owned hotels looking for assistance from a local bookkeeper. It offers a variety of features and seamlessly integrates with popular hotel management apps, including roomMaster and HotelKey.
pros
- Versatile mobile app
- Higher tiers offer class and location tracking
- Expansive network of bookkeeping advisors
- Can generate a wide variety of personalized financial reports
cons
- Hotel management features only available with integrations
- Adding more users requires an upgrade to a more expensive plan
- No phone support
Pricing
The basic Simple Start plan costs $30 monthly and is limited to one user, while the Essential plan costs $55 monthly and is limited to three users. The next tier up is the $85 monthly Plus plan which permits up to 5 users, and the Advanced plan, which costs $200 monthly and permits up to 25 users.
Customer Satisfaction
QuickBooks Online receives mostly positive customer reviews, with users appreciating its user-friendly interface and diverse features like easy customer and vendor management, as well as efficient file sharing with the accounts team. Some criticisms mentioned the absence of advanced inventory accounting features and the inability to manage multiple companies under a single account.
OASIS – Best for payroll
OASIS is a highly customizable enterprise resource planning solution ideal for small to medium-sized hotel businesses. Standout features include tools for payroll management, inventory management, front office management, budgeting and forecasting, accounts payable, purchasing, and more.
pros
- Ease of use
- Cloud-based
cons
- Steep learning curve
- Non-transparent pricing
Pricing
OASIS does not publish pricing information online. Contact the company directly to request a personalized quote.
Customer Satisfaction
Most customer reviews for OASIS are highly favorable, with customers praising the software’s ease of use and integration option.
NetSuite – Best for its customization capabilities
NetSuite is a robust hotel accounting software solution that consolidates accounting, finance, CRM, marketing, and various other functions. It offers insights into several financial metrics, including profitability ratio, liabilities, cash positions, etc. It can also automate tasks such as recording transaction details, reconciling statements, and creating journal entries.
pros
- Customizability
- Microsoft Outlook integration
- User-friendly dashboard
- Cloud-based
cons
- No free trial
- Complicated setup process
- Non-transparent pricing
Pricing
NetSuite does not publish pricing information online, and you will need to request a personalized quote directly from the company.
Customer Satisfaction
Customer reactions to NetSuite are generally positive, with several users complimenting the software’s customizability and automation, while some felt it could be more intuitive to use.
M3 Accounting Core – Best for hotel groups with construction projects
M3 Accounting is a comprehensive accounting and analytics software solution that manages accounting processes across a hotel business’s properties. It offers time tracking, accounts payable, and accounts receivable functions and provides detailed financial analysis.
M3 Accounting can track project costs and create and manage as many as three separate budgets, making it the ideal solution for hotel establishments with construction projects in the pipeline.
pros
- Robust support services
- Allows customers to manage their own books or avail of the services of an M3 accountant
- Support to manage budgets and monitor project costs
- Practical add-ons modules
cons
- Non-transparent pricing
- No free trial
- The software can be challenging to navigate
- No mobile app
Pricing
M3 Accounting does not share pricing information online. You can request a quote at their website.
Customer Satisfaction
M3 Accounting is very well reviewed by users, with most praising its broad functionality. Complaints include frequent software crashes and a user interface that looks dated.
JD Edwards EnterpriseOne – Best for managing financial operations and accounting for hotels
JD Edwards EnterpriseOne is an effective enterprise resource planning (ERP) software suite that includes features like human capital management, real estate management, and environmental health and safety.
pros
- No setup fee
- Customizable user interface
- Several integration options
cons
- No free trial period
- Non-transparent pricing
Pricing
JC Edwards EnterpriseOne does not publish pricing information online. Reach out to the company for a personalized quote.
Customer Satisfaction
Customers seem generally satisfied with JD Edwards EnterpriseOne, with several reviews mentioning the software’s ease of use and wide range of functions.
Sage Intacct – Best for growing hotel businesses
Sage Intacct is a contemporary cloud-based accounting solution specifically designed for the hospitality industry. It offers order management, spend management, cash management, accounts payable, and accounts receivable tools to streamline core financial operations. It also includes a financial reporting tool you can customize based on your requirements to track sales, analyze business performance, and more.
pros
- Customized reports
- Excellent customer service
- Multiple integration options
- Cloud-based
- Flexible and scalable
cons
- No free trial period
- Steep learning curve
- Customer support could be better
Pricing
Sage Intacct does not publish pricing information online. Contact the company to request a personalized quote.
Customer Satisfaction
Customers generally seem more than satisfied with Sage Intacct and its broad set of features. High points include the report wizard tool for creating customized reports and a wide range of accounting tools. A few customers complained that the software and all its features are difficult to master.
Nimble Property – Best for comprehensive hotel management features
Nimble Property is flexible accounting software for hotels that wish to employ special hotel management tools. It can manage accounting across several properties and features a well-thought-out KPI dashboard that displays real-time financial metrics. It also supports inventory management and a dedicated door lock system to manage employee and guest access to the various areas of the property.
pros
- Excellent customer service
- Customizable, flexible, and scalable
- Robust mobile app
- Capable of managing several properties
- Offers assisted bookkeeping
- Cloud-based, so accessible from anywhere
cons
- Non-transparent pricing
- Lacks booking engine
- Does not offer any free trial period
Pricing
Nimble Property subscription plans start at $250 monthly. You will need to contact them for a quote based on your specific requirements.
Customer Satisfaction
User reviews for Nimble Property are generally positive. Most customers seem happy with the functionality offered, the software’s overall usability, and how easy it is to outsource bookkeeping. Some users have suggested that the software needs to incorporate more automation.
Cloudbeds – Best for hotels in need of an integrated booking engine
Cloudbeds is the ideal software solution for hotels needing an integrated booking engine to support payments in multiple currencies. Users can access various usable functions such as housekeeping management, real-time analytics, payment processing, and various other dedicated hotel management tools.
Cloudbeds can seamlessly integrate with several popular accounting systems, including QuickBooks, DateV, M3, Xero, and Omniboost’s Yardi.
pros
- Versatile booking engine
- Allows for unlimited users with defined roles and permissions
- Access to an expert support team
- Offers data migration services
cons
- Financial statements cannot be generated without an accounting integration
- Non-transparent pricing
- No mobile app
- No free trial offered
- Insufficient phone support; relies mainly on online support
Pricing
Base pricing varies based on the number of active rooms at the property. Cloudbeds offers paid add-ons for revenue management, payments, room allocation, and inventory management. You can request a personalized quote by submitting a contact form on their website.
Customer Satisfaction
Most users seem extremely satisfied with Cloudbeds, praising the functionality and intuitive nature of the interface. A few common complaints are a lack of a mobile app, zero customizability, and insufficient customer service.
Hotelier Books – Best for budget hotels offering limited service
Hotelier Bools is an affordable cloud-based accounting and bookkeeping solution for limited-service hotels. It offers smallholder hotel businesses several useful account management functions, budgeting tools, and business insights at affordable rates, offering dedicated bookkeepers access. A fully customizable dashboard keeps you updated with all hotel operations, and the setup process is straightforward.
pros
- Affordable with transparent pricing
- Add-on modules for payroll, tax management, and bookkeeping assistance
- Inventory tracking
cons
- No mobile app
- Free trial not offered
- Only supports a single user
- Cannot integrate with customer relationship management
Pricing
Hotelier Books offers three distinct subscription plans based on the number of rooms on the property and whether the hotel is full-service or limited service. The base Limited-Service plan costs $169 monthly, which goes down to $149 monthly for customers who opt for annual billing.
The Limited Service+ plan costs $199 monthly, which goes down to $179 monthly for customers who opt for annual billing. The full-service plan costs $249 monthly, which goes down to $229 for customers opting for yearly billing.
Customer Satisfaction
Customers consistently rate Hotelier Books highly, with most users happy with the software’s features, ease of use, and affordability.
Our Methodology
This compilation of the finest accounting software for the hotel industry is the result of a thorough assessment of each solution’s general features and advanced accounting tools. Additionally, we have considered factors such as user-friendliness, flexibility, and extra functionalities, enabling you to select the option that perfectly aligns with your specific needs. Here’s an interesting read on why businesses need insurance.
Frequently Asked Questions
What is hotel accounting software and why is it important for hotels?
Hotel accounting software is a specialized tool designed to manage and streamline financial operations within hotels. It is important for hotels because it helps them efficiently track income and expenses, administer revenue, generate financial reports, and manage payroll, staffing, room inventory, and bookings across multiple properties.
By using such software, hotels can enhance financial transparency, accuracy, and overall efficiency in their day-to-day operations, ultimately leading to improved financial management and decision-making.
