Vima HotelsManagement services
Accounting
Vima Hotels provides managed properties with a full-service centralized accounting department that understands the complexities of the hospitality industry.
Accounting standards and support
All accounts are kept in conformity with the Uniform System of Accounts for the Lodging Industry and are reviewed on a continual basis.
Vima Hotels manages all aspects of accounting, and its professionals handle the demands of a multi-property accounting system. Our team is able to provide managed properties with a complete hospitality accounting solution on a daily basis. Constant assistance is provided with all accounting functions to each property.
Vima Hotels provides the property with a comprehensive hospitality operations guide that covers all aspects of on-property administration. These policies and procedures are reviewed annually by both our hospitality accounting staff and our independent certified public accounting firm to make sure they are up-to-date with the most current standards in the industry.
The accounting department also provides training on a wide array of hospitality accounting issues to the on-site management staff as needed.
Centralized accounting system
Vima Hotels currently utilizes a state-of-the-art centralized accounting system, which allows our hospitality management company to spot and respond to cost and performance changes quickly.
Vima Hotels uses this web-based business intelligence to drill down into financial data, get a better look at specific account information, and monitor and manage trends.
Services for hotel owners
Standalone accounting services available to hotel owners:
- General ledger analysis
- Fixed asset recording and maintenance
- Accounts payable management and check writing
- Accounts receivable management and monitoring
- Daily revenue reporting and analysis
- Daily cash reporting and cash flow analysis
- Coordination of bi-weekly payroll with our payroll service
- Preparation of bi-weekly payroll management and overtime reports
- Preparation of monthly sales and use tax returns
- Preparation of monthly financial statements and reports
- Analysis of operating variance and monthly/quarterly/annual projections
- Preparation of annual operating and capital budgets
- Comprehensive internal audits
- Other consulting services for our owners including income tax assistance and new development analysis