Many people don’t understand just how much a certified public accountant can do for a hotel business. Whether you’re establishing your hotel or hoping to see it grow, an accountant can function as one of your most valuable resources. Below Digital Marketing Coach Are Morch offers tips for finding a CPA so you can discover what these professionals can do to help you achieve your business goals.
Finding the Right Accountant
Not all accountants are the same. Not only do you have to spend time finding the right type of accountant, but you’ll also have to think about who will be the best fit for your hotel business.
- Skilled CPAs offer personalized and scalable hotel accounting solutions to handle all your accounting and bookkeeping needs.
- It’s important to know that while all CPAs are accountants, not all accountants have gone through the steps to get licensed as a CPA.
- Make sure you know what to look for in an accountant so you can find a professional with all the skills and experience you need.
- Research what it costs to hire an accountant in-house versus an accounting firm so you can work the expenses into your budget.
How an Accountant Can Help Hotel Businesses Get Established
When you’re just getting started as a hotelier, there’s a lot a CPA can do to help your business. Now that you know how to find a good accountant, learn more about what they can do for you.
- Many hoteliers don’t realize that a CPA can also help them write a business plan.
- When you’re getting established, a CPA can be an asset in helping you formalize your business with the correct department in your state.
- Lastly, a CPA can help you with payroll-related tasks. However, using payroll and accounting tools that track taxes and forms, 401(k) plans, and health benefits can make the payroll process a little easier for all involved.
How CPAs Help Businesses Grow
Just as CPAs can set up an accounting system for your hotel business when you’re getting established, they can also help you maintain your system and foster business growth. Here’s how.
- Your CPA will produce financial statements and help you understand what they mean for your business.
- Unless you’re a financial expert yourself, you’ll probably want a CPA to help you create and interpret financial forecasts for your hotel business.
- As for day-to-day operations, a CPA can create and manage your hotel’s budget so you stay on track.
CPAs perform a number of invaluable tasks for hotel businesses. Whether you’re just thinking about opening a hotel or already have a thriving business that you want to grow, hiring a CPA might be your smartest move yet.
To level up your hotel and increase bookings, it’s crucial to have a digital marketing strategy in place. And when you work with an expert like Are Morch, not only will you be able to increase brand awareness, but you’ll also come away with ideas for innovation, strategy, and enhancing the customer experience. Reach out today to get started!
Related article: In the Wake of COVID-19, How Can the Hotel Industry Rebuild Trust With Their Customers?
We are in this together!
I need to let you all know that we are in on this together. If you need to vent, talk, cry, or just have some to talk with, I am here listening. Since I am working part-time at the local Kroger, I will best work it out around my schedule to the best of my ability.
But you can reach me here:
Email: hotelblogger@aremorch.com
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We will get through this unprecedented event together! #hotelstrong #hospitalitystrong
For any specific information on COVID-19, I recommend go to CDC, WHO, AHLA, AAHOA, and HSMAI. Also, follow information from your local authorities.
NOTE
We are starting to reopen some hotels again (Yay!!!). Make sure you follow their guidelines and say THANK YOU to those that now show a unique spirit to serve, and helps us all get through this!! #hotelstrong #hospitalitystrong
About Are Morch
Hi, I am Are Morch. Your Digital Marketing Coach and Customer Experience Expert helping hotels create unique and unexpected experiences by freeing up resources to focus on new ideas through value innovation and a growth mindset.
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