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This article introduces the different functions of the hotel accounting software. In hotel financial management, the financial accounting, cost accounting, tax accounting, auditing and managerial accounting that has different purpose to help the hotel effective manage the financial data. Financial accounting records and reports the financial transactions of the hotel. Cost counting records and reports the hotel's expenses. Tax accounting records the data related to the taxes transactions. Auditing checks all the financial data and information. Managerial accounting analyses the financial data and information to make decision. All these accounting is necessary for the hotel. With the hotel accounting software, the manager of the hotel can manage the hotel easily and more convenience.

This company offers the accounting service to hotels. It adds expertise to hotels' accounting process and relieves hotels of the headache of tureover and traing as well as the cost of an accounting department. It uses an online real time accounting system that adds value to hotels' statements. Hotel Solutions provides consulting in hotel industry accounting, specializing in properties using M3 Hotel Specific software. M3 hosts the most robust integrated suite of software products for the hospitality industry. It is the mission of our team to provide accounting support to M3 clients to whatever degree needed to help them because more productive and profitable as well as reduce their operating costs. It offer several services: financial statement design&setup, customized daily reports, management reports&owner reports, reviewing and refining existing setups and reports, monthly accounting functions, bank reconciliations, training for new employees, both in person and online/phone, providing continuity as Interim Controller, establishing internal control procedures, internal controls and audit, accounts payable, budgeting and forecasting, and other financial services designed to meet hotels' needs.

The article attached makes reference to the importance of having an accounting system to sucessfully run a restaurant. The author mentions that there are three important key factors. The first one is obviously the quality and presentation of food which will be the revenue generating asset. The second will be the people who will be working at the restaurant. The people will ensure customers are satisfied and return time and time again. Some accounting systems have the capibility to control payroll allowing managers to print reports and better control hours. The third point is the importance of having an accounting system. Many managers rely on the accounting system to collect information and reports about the business including hisory. Several accounting records will be done automatically. Many systems will allow to control inventory as well. Hopefully, more managers in the industry will understand the importance of analyzing this type of data.

This is an example of how technology is changing the hospitality industry every day. For many hotels, days of faxed night audit reports and hand work are in the past. Today this growing industry, counts with the most advanced technology to have the best accuracy in their financial and operational data.

TouchBistro is the best POS system for restaurants. It focuses solely on features that restaurants need and it is a perfect solution for a small business. From a management perspective it has a a lot of positive time-saving features. -mobility, it can be taken anywhere -table or bar, easy to open tabs -lock in register -bill splitting, easy to split entire bill -custom orders -automatic pricing -send orders directly to kitchen -reports, help to identify trend and boost sales -anytime support -personalized training program As for disadvantages: -it relies on a Apple-based infrastructure, if you are looking for an Android POS system, it's not for you -it is not cloud-based POS system, it's work depends on the device and local network.

The article attached to this link is from HotelNews.com and refers to "The Guestroom of the Future" reported in a trade show in 2010. The author reports ten trends that should be seen in hotel rooms within the next few years. One of the ten trends is the ability to use a mobile device such as an ipad to control the amenities in the room utilizing a software that will connect the room technology to the touchscreen device. By using the ipad, the guest is able to control the room temperature, open and close drapes, set privacy sign light on or off, turn on request for housekeeping service, alarm, wake up call, room service order, view room folio, access concierge services and etc. The advantage of this device is that it concentrates all technology in just one device depending on the capability of the software. I believe more hotels will adhere to this type of software as soon as it is proven to be reliable and accpeted by guests. Reliability is also related to the dependancy of the internet connection for the functionality of this software. I consider one of the concerns to be how would these amenities be delivered or operated in case of failure of internet service or power outage.

Another interesting article here regarding smart phones and the booking process. How many times have you gone home to your computer to book a flight or a hotel? Well according to this article you are one of the few. Expedia reported that 65% of hotel bookings in a random 24 hour period were booked on the go. With smartphone sales reaching $982 million this year, there are many companies that are now doing "mobile-only" booking. eMarketer indicates that ecommerce sales are going to reach $119 billion this year. With that being said, travel agencies should be bracing themselves for a hit. If people are using sites like Priceline and Expedia more and more everyday, eventually there will be no need for agencies.

Hotels.com recently conducted a hotel amenities survey where they asked potential travelers insight as to what amenities mean the most to them when booking a hotel room. An overwhelming response for free wi-fi in their hotel rooms indicated how important this perk is to travelers. "35 percent reported it is the simple amenity they want to see more in hotels, with 31 percent wishing it would become a standard in all hotels in 2012." Other interesting aspects of the article were that guests also stated their favorite modern in-room amenity was the use of iPads for guest services, local information and personal use. There is a bit of irony in the fact that widespread use of these devices in hotels amongst business travelers may contribute to poor free and paid wi-fi networks. What would be interesting to me is what quality of wi-fi do these respondents expect for free wi-fi services, as as we discussed in another article the quality of these wi-fi networks even at a paid level are not performing to the standard of the average business traveler. Often times in a scenario where something is free, you can expect to get what you pay for.

Optima is global leading software in the hospitality industry, Designed for both the mid - market and luxury hotel sectors. All Optima line applications are integrated, using a single image open database, allowing full access to data across all modules and all hotel departments. Whether it is Reception or Banqueting, Spa or Accounts receivable, all modules read from the same database. And in addition all modules have the same recognizable user interface allowing staff to easily switch between applications. It's efficient,easy,flexible and customized configuration.

Considered the technology of the next generation Optima PMS, with advanced icons and color codes which gives managers an overview of hotels operations and maintain management controls. The windows graphical user interface helps simplify data entry by employees, user friendly, quick and easy. The system is able to change to a variety of languages, automatic or semi automatic night auditing procedures, guest history and mail merge, unlimited number of folios for guest, interfaced with all leading PBXs, housekeeping and room maintenance. Optima PMS has a report module with an extensive report generator which provides statistical reports and occupancy and work assignment forecasting reports. This new upcoming system seems to be well suited and user friendly, but does not seem very far from opera. Opera is a very user friendly system which really provides convenient use for the employees. It is even possible to email reservation confirmation through the system to a guest. In other PMS systems like brilliant or Epitome that was not possible. These new and improved systems really make a front desk and reservation agent life a bit easier. The system is interfaced with the phones in the rooms, which allows us to see in the system when a housekeeper is in the room cleaning which is called pick up status" so that we can provide adequate information for the guest informing them that the room is currently being cleaned instead of having to call housekeeping every 5 minutes.

Security and POS wrapped up in one tight little bow. Vectron has came out with a new cctv system that integrates to the hotel or bars POS system. Now the security system time stamps all images linked up to transactions. GM's can set up alerts to be sent to their mobiles or emails. Why is this important? Incidents like employee theft, fraudulent credit card use, guest intoxication, credit card disputes and underage service can all be tracked, imaged and time stamped to serve as evidence. This can help in insurance claims, police reports, reporting credit card fraud or dismissal of employees. There are many times where customers dispute there bills after they have received services in Miami and linking the POS to the security system would be a tool in fighting for payments deserved. Too bad this is a Australian Device and not in America.

Immediacy vs Accuracy, which would you go with? The media is rushing everyday to deal with the two and make up a news report that consists of the two. Whoever has it broadcasting first is the winner. This article speaks on how twitter has changed the way we find about information now and days. Although Twitter will have a news shooting around the world in less than a minute. How accurate is the information? Stars have been killed by twitters power to spread the news of the stars death faster than the news station can get it on the tv screens. Is the information accurate? unfortunately not. This is where twitter as well as other media sites should manage what gets put out there before it gets publish. Just like what tv stations do. They verify and then they broadcast. As well as wikipedia. Someone should verify the information on each page and should not allow users to change or input information into that webpage.

The fashion merchandise retailer store, Nordstrom, has joined the venture of equipping employees with mobile POS devices in order to increase customer satisfaction, in a focus toward convenient efficient checkout. The fundamental incentive is to minimize the customer's inclination to over analyze their potential purchase by waiting in the line for a lengthy period, thus, maintaining the impose of the customers to purchase the item. The mobile POS devices are equipped with a scanner and credit card slider in order to complete the transaction for the customer, the same type of technology is visible in Apple and Home Depot stores. According to the company's sale report, a visible increase in sales has occurred for the Nordstrom Company, an estimated 15.3 percent from $1.5 Billion to $1.73 Billion in the same fiscal year of 2011. As well, the creation of a Nordstrom app allows salespersons to check inventory and availability, in a further aim to increase customer satisfaction and their business. Without a doubt POS system are branching into different spectrum of business in order to increase efficiency and customer satisfaction.

This article is five hotel groups streamlining their management accounting process by using Aptech's intelligence and financial products. The systems were selected because of their ability to interface with several property management systems, level of accuracy, and reporting capabilities. The systems are internet based and be used for single or multi-property companies. I find this article to be interesting because at the end, it speaks about Aptech Computer Systems, Inc. as a leader in the hospitality industry. It approach to creating state of the art products is attributed to "leveraging change by valuing human relationships and applying technology to solve business problems for people". I think that is a great premise for a company to build on.

The reason for my choice is to show that GDS is still preferred in this age. No matter what evolution takes place with direct booking, GDS would never fade away. It is proven that via GDS, the occupancy in hotels are greater than direct booking, once again due to the fact that people have used this before and are comfortable with it and will not want to change.

Hotel booking transactions have increased by 8.8% since April which is the highest year increase through GDS since August 2011 setting a new record. Previously January lead with the strongest growth at 7.9% over 2012. Bookings are primarily business travel and have helped set an increase of 4% with rates .1% ahead of last years. When reported in 2011 it was said that the hotel industry is heavily influenced by the economy verses today reporting positive economic indicators which is definitely welcoming business and leisure travelers to book their travel plans using GDS. Not only did business travel increase so did leisure travel increasing by 6.2% from April 2012. This year in April growth reached its highest growth pace thus far at 5.4% with an increase in rates by 1.2%. Seems like people can always find money in their budget to travel. For the "condition" of the economy I am happy to see that leisure travel is still increasing and people are still using GDS to book. As we discussed in our discussion board, GDS should continue to be used. It is obviously growing and people have not stopped using it. All ages are using GDS and are finding it to work for them. As far as business travel, my company requires us to use our online travel agent even when booking through Expedia or another site is cheaper. They say it's the way they track our expenses for the year. I think businesses have started hiring less people and are requiring their employees to work remotely and then travel when needed. This could be where some of the increase in business travel is coming from.

This article is about the changes in Australia hotel industry. Tourism Accommodation Australia release the research report. The report shows the technology innovation and future trend of Australia.

The main focus of the article is the use of Aptech PVNG Enterprise Accounting within La Corsha Hospitality Group. La Corsha has been implemented the web-based system over 10 properties, providing a flexibility between hotel and restaurant operations. The multi-company system is meant to facilitate the way companies report and access data while also managing finances. The main feature is that it is very detailed in the way is analyzes the finances and allows for it to increase productivity within the workplace. Also giving a brief description about how Aptech computer systems is the "only provider to fully integrated enterprise accounting, business intelligence and planning ecosystem to the hospitality industry." Besides the ability to help productivity, what I consider important is that the software helps define who and who doesn't have access to certain functions. When it come to finances, security is important and having that function allows management to control and limit the staff that is allowed access. Not only does it prevent theft but in my opinion it helps to hold the staff accountable for the expenses that are being reported.

This article discusses the liability for a cyber breach at various branded hotels between the franchise owner or the corporation. The Trustwave 2016 Global Security Report stated that the hospitality industry had the second largest amount of data breaches. Additionally, more than half of the breaches are from a corporate/internal network breach. According to a Ponemon study, the average cost of a data breach is $4 million. While this is alarming, it is a surprise since hotels store numerous amounts of personal customer data including guest's credit card information. The article states that cyber hacks are largely due to the gap in not knowing who is responsible for the cyber security. There is an issue of control of data versus franchise network requirements. The hotel brand places individual franchisees in control of their own cyber security. However; they must rely on many centralized corporate owned reservation systems that could be possible access point for cyber attacks. The article suggests that the individual franchisee should make more effort in protecting their customers information as the hotel brand will take most of the blame. This does not help either side. Also, it mentions that in order to protect the hotel franchise it is important to have updated systems and should consider investing in cyber insurance.

Module 8: "Everything in the business world is about the bottom line, and the accounting department of an organization is the keeper of that bottom line's flame." The following article, Accounting and Bookkeeping For The Tourism Industry gives and inside look and new perspective into the accounting and bookkeeping within the hospitality and tourism industry. The following are a few topics that are required in order to successfully run financial aspects within the travel industry; cash-flow, operation & cost budget, pensions, foreign currency, accounting system integrity and accounting & reporting standards. I was interested to read all of the possible job opportunities that are available in accounting and booking sides of the travel industry; for example - opportunities to travel to exotic locations, work/live abroad, possible events, etc. It is clear to read that employees in both accounting and booking are vital today and their role continues to play a major role in the overall success of the industry. "Just as the history of the tourism and hotel industry has grown and evolved into the mega economic force it is today, so has the bookkeeping necessary grown into a mega accounting career that the tourism business could not live without."