Hotel Financial Coach Blog

Hospitality Financial Leadership – How to Set Up and Report Food & Beverage in Your Hotel Financials

That is a long title and it is fitting because F&B reporting in your financials is the longest part of your hotel financial reporting process. Every other department except for benefits is a single shot. In F&B you need allocations and a roll up of all outlets into a total F&B profit statement. This is...

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Hospitality Financial Leadership – Creating Hotel Financial Policies

Having a policy manual that covers all the important aspects of your business that relate directly to the financial function is a mission critical building block for your hotel company. Not too many people would argue with that statement. Why then do most small hotel companies still not have a financial policy manual for its...

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Hospitality Financial Leadership – Outsourcing Your Accounting and Why this is a Stupid Idea

Stupid sounds like a harsh word. Webster’s dictionary defines stupid as, “Given to unintelligent decisions or acts,” along with a few other more colorful options. Outsourcing your hotel accounting is an unintelligent move, that is my opinion and I am going to make my case right here. When I refer to outsourcing, I am talking...

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