Simplify your accounting: Quickbooks integration

Managing finances in the hospitality industry can be complex, but ThinkReservations is making it easier than ever with our new QuickBooks integration. In our recent webinar, CEO Richard Aday and hospitality accounting expert and founder of Specialized Accounting Tyler Otto walked property owners through the benefits of this powerful new feature-and how it can transform your business.

Why the Night Audit Matters

At the heart of accurate accounting is the night audit-a process that verifies daily transactions, ensures reservations are paid in full, and reconciles payment types. ThinkReservations’ night audit module lets you lock and certify your data, providing the assurance that what’s in your property management system matches your accounting records. This prevents discrepancies and makes audits and financial reviews far simpler.

Seamless QuickBooks Integration

ThinkReservations now connects directly with both QuickBooks Online and QuickBooks Desktop. Once your night audit is complete, the system automatically generates a journal entry reflecting your daily financial activity and pushes it to QuickBooks. This eliminates manual data entry, reduces the risk of errors, and ensures your books are always up to date.

Setting Up for Success

To get started, you’ll work with our team to configure your chart of accounts in ThinkReservations, aligning it with your existing accounting structure. Once set up, the integration runs automatically for QuickBooks Online users, while Desktop users can easily import daily data via IIF files.

The Power of Accrual Accounting

Tyler Otto emphasized the importance of accrual-based accounting for hotels and inns. Recognizing revenue when it’s earned-not just when cash is received-can have significant tax and cash flow benefits. This approach also enables you to track key metrics like profit margin, labor margin, and unearned revenue, giving you the insights needed to make informed business decisions.

Affordable and Supported

The QuickBooks integration is available for a flat monthly fee of $35, plus a one-time $300 setup fee to ensure your system is configured correctly. Our team will guide you through every step, from initial setup to your first automated night audit.

Get Started Today

Ready to simplify your accounting and gain deeper financial insight? Contact ThinkReservations to enable the QuickBooks integration and take your hospitality business to the next level.

For more details or to schedule your setup, reach out to the ThinkReservations team today!