Centralized Accounting System Review

Centralized Accounting System Review

The back office accounting review starts with a comprehensive review of the IT technology systems used by your back office, general ledger system, PMS, POS, time system, and payroll processing. We provide recommendations for cloud based applications and lower cost solutions commonly used by other hotels.

The inspection continues with an analysis of processes and procedures used for monthly close procedures, such as the booking of adjusting journal entries (AJE), and financial statement preparation and reporting.

In addition we inspect procedures for bank statement reconciliation, prepaid expenses, fixed asset booking, accounts payable and invoice processing, accruals, LT debt and other liabilities. We review the process used for annual budget, CapX budgeting, and long-term planning.

At times you may need a trained outside professional to evaluate your company’s accounting general ledger systems to determine if the appropriate controls are in place to ensure proper handling of resources and transaction processing.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company by correcting any inefficient or ineffective operating procedures we find.

We review your back office accounting procedures to ascertain if results are consistent with established objectives and goals and if the operations are being carried out as planned.