The best hotel accounting software include the ability to monitor income and expenses, produce basic financial reports, and manage revenue. They should also be able to handle multiple properties, room inventory, staffing, and payroll. Software with additional features, such as integrations with property management systems and a powerful booking engine, are also useful.
We have identified six of the best accounting software for hotels:
- Nimble Property: Best overall hotel accounting software for extensive hotel management features
- Cloudbeds: Best for hotels wanting an integrated booking engine
- Hotelier Books: Best for limited-service hotels on a budget
- QuickBooks Online: Best for small, independently owned hotels wanting support from local bookkeepers
- M3 Accounting Core: Best for hotel businesses with construction projects
- Wave: Best free software for small limited-service hotels needing basic accounting
Best Hotel Accounting Software Compared
Assisted Bookkeeping Available
Number of Users
Starts at $250 monthly
Starts at $169 monthly
$90 monthly for Plus
Up to 5
Nimble Property: Best Overall Hotel Accounting Software for Extensive Hotel Management Features
Nimble Property has many features that make it a good accounting software for hotel businesses wanting access to special hotel management tools. The door lock system, for example, allows you to grant different levels of access to your property. You can use the key performance indicator (KPI) dashboard to view financial metrics and also set budgets. You even have the option to outsource your books to a dedicated bookkeeper.
Nimble Property Overview
Cloudbeds: Best for Hotels That Want an Integrated Booking Engine
Cloudbeds has useful features, such as real-time reporting analytics and housekeeping organization functions, and strong hotel management tools, including a booking engine and pricing intelligence engine. It also has great financial features but cannot generate financial statements, such as a profit and loss (P&L) or balance sheet, without an accounting integration. While the pricing isn’t transparent, it includes unlimited users with individual roles and permissions.
Hotelier Books: Best for Limited-service Hotels on a Budget
Hotelier Books is cloud-based accounting software and bookkeeping service platform, and its features make it ideal for limited-service, small-scale hotel business owners. With software that’s both feature-rich and affordable, it allows you to manage the accounting for your properties and provides access to business insights. The software is easy to set up and manage, and you can outsource your books to one of its dedicated bookkeepers.
Hotelier Books Overview
QuickBooks Online Plus: Best for Small, Independently Owned Hotels That Want Local Bookkeeping Assistance
QuickBooks Online is our top-recommended small business accounting software and a great option for small independently owned hotels that want to find a local bookkeeper who can help on an as-needed basis. QuickBooks is by far the most popular small business accounting software in the US, and as such, most bookkeepers are very familiar with it. You should have no problem finding a local ProAdvisor to assist you. Another option for bookkeeping assistance is QuickBooks Live, which will provide monthly financial statements for your hotel.
If you don’t have a need for hotel management features or are already using separate software for that, you can rely on the powerful tracking features and customizable reports that QuickBooks offers. You can also integrate it with hotel management apps, such as roomMaster or HotelKey.
QuickBooks Online Overview
M3 Accounting: Best for Hotel Businesses With Construction Projects
M3 Accounting is a robust accounting and analytics platform designed for the hospitality industry and is especially useful for hotels with construction projects because of the ability to create up to three budgets and track project costs. Using a core accounting module, you can manage the accounting for your entire property portfolio as it includes time tracking, A/R and A/P, and financial analysis.
You can also integrate with HR, payroll, and about 40 property management systems. If you prefer to outsource your bookkeeping, you can work with one of its accounting staff who can also provide implementation support and training.
M3 Accounting Overview
Wave: Best Free Software for Small Limited-service Hotels That Need Basic Accounting
Wave, a free cloud-based accounting software program, lets you manage your bookkeeping, invoicing, and payment processes in one place. You can manage your accounting for free, track your revenue and expenses via a live link to your bank account, and process payroll and payment transactions at a low cost.
How We Evaluated the Best Accounting Software for Hotels
We evaluated these programs in terms of general features that we’d expect to find in hotel accounting software but also assessed them based on whether they had the basic features we’d take for granted, such as access to financial reports or A/R and A/P tracking. We also took into account each software’s ease of use, pricing, and our own expert evaluation.
Frequently Asked Questions (FAQs)
What features should a good hotel accounting software have?
A good hotel accounting software should have features like accounts payable and receivable, payroll management, financial reporting, budgeting, and cash management.
How much does hotel accounting software cost?
The cost of hotel accounting software varies depending on the size of the hotel, the number of users, and the level of customization required. On average, a good hotel accounting software costs about $250 per month.
Can hotel accounting software handle multiple properties and currencies?
Yes, many hotel accounting software have the capability to handle multiple properties and currencies, making it easier for hotel chains and franchises to manage their financials.
Nimble Property is the overall best accounting software for hotels because of its powerful KPI dashboard, inventory management features, and budgeting module. If you need a booking engine, then Cloudbeds is for you. If you run a limited-service hotel on a budget, Hotelier Books is a great option. QuickBooks Online Plus is ideal for independently owned hotels with basic bookkeeping needs. For hotels undergoing construction projects, M3 Accounting will allow you to set up budgets and track costs.