Hospitality client software

What software do your hospitality clients use? And what are the pros and cons of these tools?

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Good afternoon one and all,

It’s another call for experiences/assistance from your favourite accounting tech editor. I'm putting together the latest of my 'accounting software verticals' pieces, this time focussing on hospitality clients and what software might work best for them.

There seem to be the usual core accounting platforms offering integrations and a few more niche offerings out there promising efficiencies to help restaurants, pubs and hotels get through tough times, but what do you find works?

Questions I'm looking to answer include all/some of the following: What are some of the peculiarities of hospitality clients? How does software help with these? What new tools do people use or have tried, and what should accountants look out for? And does MTD come into the picture?

If you have a minute do let me know below, or if you’d prefer to chat drop me a private message on the site or email [email protected].

All the best,

Tom

Replies (4)

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By williams lester accountants
20th Oct 2022 07:34

We just use standard Xero or QBO (some on each) and try where possible to connect the ePOS tills as well to cut down on inputting complex sales data.

For reporting, we export to our excel template, which we have designed to give useful KPI info for hospitality businesses and we are good to go.

Also ensure where possible that the bookkeeping is done daily to keep it as up to date as possible.

Lastly, using KeyPay for payroll where each staff member uploads their daily timesheet for a manager to review and approve before the hours come across to us.

Thanks (1)
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By indomitable
20th Oct 2022 11:46

For our small hospitality businesses Xero as the core:

EPOS system connected to record sales in XERO ensuring VAT reporting is correct.

Purchase invoices and receipts to autoentry

Problem of reconciling credit card receipts and daily cash dealt with via control accounts, making sure this is reconciled monthly or quarterly

Stock system is always the issue, but my hospitality clients are pretty small so they do this more or less manually

There is no ideal solution out there that I have found for small businesses. There are solutions for larger hospitality clients, but they are not off the shelf solutions and require bespoking, and would have stock control and reconciling receipts automatically as part of the solution and they would run into the tens of thousands per annum of software costs

Thanks (2)
Glenn Martin
By Glenn Martin
20th Oct 2022 14:26

Invoice capture is the challenge as a small restaurant can generate 400 purchase invoices a month, usually split between chef, manager and the owner so having discipline to get them into dext is key.

Other than that there is nothing special about it xero+dext+bank feeds + epos and a simple dashboard for key KPIs

Thanks (2)
Sarah Douglas - HouseTree Business Ltd
By sarah douglas
24th Oct 2022 19:58

Hi Tom

I have sent you a message. There are quite differences in hospitality accounts.

Thanks (0)