Managing hotel finances using traditional spreadsheets is fraught with hidden risks and inefficient use of time. CFOs and general managers often spend days manually consolidating data from the PMS (property management system), F&B (food and beverage) records, and technical service reports. As a result, by the time the report is finalized, the data is out of date.
Software Features
The solution lies in adopting the industry standard USALI. This is not just a document form, but a universal language for hotel finance. Specialized platforms like Finoko automate this process, transforming disparate figures into a ready-made basis for decision-making. Hoteliers need a clear reporting standard to understand the true cost of each room sold.
Using the software, the finance department receives:
- A unified chart of accounts for the entire hotel chain, allowing for accurate comparison of the performance of different properties.
- Instant transparency of income and expenses, daily or monthly.
- A complete package of ready-made forms: from departmental operational reports to the final balance sheet.
The main value of automation is the freeing up of the team’s intellectual resources. Instead of searching for a single error, analysts can focus on demand forecasting and cost optimization.
Deep detail: from rooms to utilities
The second section is dedicated to how the system structures information within the hotel. A hotel is a complex mechanism, where each department operates as a separate business unit. Finoko automatically distributes data flows according to USALI logic, ensuring complete process visibility.
The system generates operational reports for key profit centers:
- Front Desk: detailed analysis of revenue from individual tourists, tour groups, and corporate contracts, including labor costs for front desk staff and housekeeping.
- Food and Beverage: revenue split between food, beverage, and banquet service sales, taking into account the cost of food purchases.
- Additional centers: spas, fitness centers, paid parking, and conference room rentals.
The system tracks expenses for administrative departments, IT infrastructure, marketing, building operations, and utilities. For owners and senior management, the platform provides high-quality consolidated management reporting.