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Are you considering outsourcing your bookkeeping? Read about the benefits.

“The month end reports are always provided in a timely manner and are in a format that relates to the hotel industry which makes it very easy to understand and also very useful in evaluating our businesses.”

--Zachary D. Dobbins
CPA, Bennett and Dobbins, PLLC

Case Study

Sleep Inn & Suites � Moundsville

Owner – Ohio Valley Investors, LLC
Property – Sleep Inn & Suites – Moundsville

Focus was contacted in February 2013 by Ohio Valley Investors who were constructing a 69 room limited service Sleep Inn & Suites in Moundsville, WV.

They were new to the hotel industry, but were working with a hotel consulting firm that had recommended Focus to ownership groups in the past.

The hotel was scheduled to open in late April 2013.

The Issue

We met with the owners who were looking for an accounting system that followed the Uniform System of Accounts for the Lodging Industry.

They also stated concerns such as:

Software licensing and support fees
Financial confidentiality and data security
Timeliness of critical information
Staffing accounting personnel

SLEEP INN & SUITES-MOUNDSVILLE, WV

“I have been working with Focus for the past three and a half years as a general manager. John and his employees have completed reports, kept me on track with my checking and banking accounts and have always been there when needed in a timely fashion. They are constantly double checking our records and staying on top of our accounts to make sure we are doing all that is needed to get ahead. I couldn't be happier and more pleased with the business relationship we have built. My company has even hired them for our sister hotel and have leads to others as the company expands!”

- Joni Grubler, General Manager

FOCUS E-Z Solution

We presented a proposal for our FOCUS E-Z solution that would give them the accounting system they needed, put the bookkeeping responsibility in the hands of the professionals at Focus eliminating the need to hire a bookkeeper, and allow their staff to concentrate efforts on guest service and making their property successful.

There would be no outlay of cash for licensing or annual fees, additional staff would not be required and training of hotel personnel would be minimal.

After some due diligence by the owners in speaking with other successful Focus clients, Focus was engaged for our FOCUS E-Z services.

Our Process - Goals & Procedures

Meetings with the owners and their accountants followed to layout our plans with priority given to maximizing profitability and strengthening cash flow from the start.

The accountants had managed the bookkeeping during construction and provided us with opening balances for the hotel.

When the hotel opened in April the invoices received at the propoerty started to be scanned directly to the Focus Dropbox for processing and night audit files created by the PMS were interfaced directly to the Focus G/L daily.

The following steps were also put in place:

A weekly deposit sheet supplied by Focus was submitted by the general manager for all cash and checks received.
A second spreadsheet was submitted weekly for any manually prepared checks
The payroll provider started exporting a file for Focus to interface directly to the Focus G/L for each pay period.

Our Services - Data Management

Day-to-Day

Since the hotel opened Focus has managed the entire day to day accounting process and eliminated the bookkeeping tasks from the hotel.

The Focus Dropbox is checked daily for scanned invoices from the property. Invoices are processed as they are received.

Data folders are created for each week of invoices received and processed. The folders can be accessed through the Focus Dropbox at any time.

The PMS night audit files are directly interfaced to the Focus G/L daily.

Weekly

We work with management and the general manager weekly to ensure all accounting information has been received and processed.

Focus provides an aging of open invoices weekly for selection of items to be paid by the hotel along with a cash position statement which is delivered electronically to management.

Checks are created at Focus and emailed to a designated location for printing and signatures.

A month-to-date recap of daily business is emailed to ownership and authorized personnel.

Monthly

Some of the guidelines and checkpoints in place for data received include:

Any discrepancies between the PMS and credit card statements.
Monitoring ratios between food cost and the number of rooms rented.
Housekeeping payroll based on occupancy.
Contracted vendors who occasionally submit invoices for covered services.

Monthly, we reconcile the bank and credit card statements and all payroll summaries are recorded

Standard monthly entries are recorded and we verify with our quality control checklist that all items have been completed.

Preliminary financial statements are prepared for accounting review. Any necessary adjusting entries are recorded.

A financial book of reports is prepared and posted to the Focus Dropbox for pre-authorized staff and ownership giving them immediate access to property performance.

Budget - Cost Savings

The FOCUS E-Z solution exceeded the owner’s expectations and allowed the general manager and hotel staff the time to devote their efforts toward guest satisfaction and making their property successful.

At $1500 a month, or $50 a day, the property would pay $18,000 annually for the Focus staff, use of the software, and full bookkeeping services.

In comparison, the cost and concern of staffing appropriate personnel, software and licensing fees, training, and timely access to critical financial/statistical information was significantly greater.

The Results

The Sleep Inn & Suites in Moundsville is a huge success with occupancy percentages averaging 86.3%. A second property was built by Ohio Valley Investors and opened in May 2015 in Parkersburg, WV. The same successful plan was put in place at the Sleep Inn & Suites in Parkersburg.

Currently, Focus is working with Ohio Valley Investors on additional hotels with
FOCUS E-Z as their bookkeeping solution.

Contact

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