6 Best Hotel Accounting Software for 2023
Tim is a Certified QuickBooks Time (formerly TSheets) Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content.
Danielle is a writer for the Finance division of Fit Small Business. She has owned a bookkeeping and payroll service that specializes in small business, for over twenty years.
This article is part of a larger series on Accounting Software.
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
Pricing | Booking Engine | Assisted Bookkeeping Available | Mobile App | Number of Users | |
|---|---|---|---|---|---|
 | Starts at $250 monthly | ✕ | ✓ | ✓ | Unlimited |
 | Quote based | ✓ | ✕ | ✕ | Unlimited |
 | Starts at $169 monthly | ✕ | ✓ | ✕ | 1 |
 | $85 monthly for Plus | ✕ | ✓ | ✓ | Up to 5 |
 | Quote-based | ✕ | ✓ | ✕ | Unlimited |
 | Free forever | ✕ | ✓ | ✓ | Unlimited |
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.
Pros
- Mobile app available for iOS and Android
- Scalable and customizable
- Can manage multiple properties
- Prompt and efficient support and service
Cons
- Pricing isn’t listed clearly on website
- No booking engine
- No free trial
- No receipt capture
Plans & Pricing
Plans start at $250 per month, per its blog post from December 2021; contact Nimble Property for a free quote and demo. There’s no cost for additional users.
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.
Pros
- Booking engine supports multiple languages and currencies
- Ability to assign different roles and permissions to each user
- Data migration services available
- Professional support team based in United States and other parts of the world
Cons
- Must be integrated with accounting software to produce financial statements
- No mobile app
- Pricing isn’t transparent
- Customer service is mainly online
- No free trial; can only test a demo account for 21 days
Plans & Pricing
Cloudbeds’ pricing model adjusts on a sliding scale based on the number of active rooms on each property. There are four tiers that include different levels of functionality: Essentials, Plus, Premier, and Enterprise. Contact Cloudbeds for a free quote.
Add-ons are available for a fee: Cloudbeds Payments, revenue management, shared inventory, and room allocations.
Cloudbeds Overview
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.
Pros
- Prices are affordable and transparent
- Inventory tracking
- Assisted bookkeeping services (additional fee)
- Payroll and tax management (with Nimble Property module)
Cons
- No mobile app
- Doesn’t support multiple users
- No free trial
- No customer relationship management (CRM) integration
Plans & Pricing
- Limited Service: $169 per month for fewer than 50 rooms on a limited-service property
- Limited Service +: $199 per month for 50 or more rooms on a limited-service property
- Full Service: $249 per month for full-service properties
There’s no free trial available, and you must commit to a demo before signing up.
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.
Pros
- Powerful mobile app
- Wide selection of customizable financial reports
- Plus and Advanced tiers allow you to track by class and location
- Bookkeeping help readily available from an enormous network of independent ProAdvisors
Cons
- No customer service telephone number
- Upgrade plan to add more users
- No hotel management features without integrations
- Dedicated account team
Plans & Pricing
We recommend the Plus or Advanced plan because of the class and location tracking. However, the lower-priced plans might work for a single location without the need to separate income by classes:
- QuickBooks Online Simple Start: $30 per month for one user
- QuickBooks Online Essentials: $55 per month for three users
- QuickBooks Online Plus: $85 per month for five users
- QuickBooks Online Advanced: $200 per month for 25 users
New subscribers can choose between 50% off for the first three months or a 30-day free trial.
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.
Pros
- Strong support service options
- Track construction project costs and set up budgets
- Option to manage your own books or outsource to an M3 accountant
- Insight and Labor modules let you streamline other functions
Cons
- Pricing isn’t transparent
- No mobile app for Accounting; only Labor and Insight
- Software has a steep learning curve
- No free trial
Plans & Pricing
Request a free demo to receive information about M3 Accounting’s pricing for both the software and support services. A free trial is currently unavailable.
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.
Pros
- Free accounting and invoicing services
- Generates different kinds of accounting reports
- Fairly straightforward to set up
- Easy for first-time users
Cons
- Can’t separate income and expenses by classes or locations
- Can’t reconcile bank statements when timing differences exist
- Poor customer support
- Not a good fit for large businesses
Pricing
Wave is totally free for its accounting, invoicing, and receipt scanning features. Additional fees may apply for payment and bank processing. Add-on services include:
- Wave Payroll: Fixed monthly cost of $35 for tax service states or $20 for self-service states; there is an additional $6 per month per active employee or independent contractor
- Wave Advisor: $149 per month for bookkeeping support
- Accounting and payroll coaching: $329 per coaching session and email support
Wave Overview
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.
Bottom Line
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.
