Setting up a chart of accounts in QuickBooks for lodging companies is the same no matter if the company is a hotel, motel, bed and breakfast, inn, cabin, or timeshare. First of all, there should always be an income account for lodging income. If your business offers services to your guest such as fine dining, laundry, or room service, then there should be separate income accounts for this as well.
Many hotels also make money off of hosting meetings and conventions. If your company makes money by hosting events, conventions, and business meetings, make sure to have an income account for this as well.
When creating expense accounts, consider what your company spends the most money on. Most hotels spend a lot of money on advertising, maintenance, business permits, and grounds keeping, so make sure to keep expense accounts for these.
Where Can I Find More QuickBooks Help?
To learn about a chart of accounts for another industry, try our post on industry specific charts of accounts.
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