Baskadia

Hospitality accounting encompasses a range of financialpractices designed to streamline operations, mitigate risks, and optimize profitability within the hospitality industry. From tracking daily transactions to preparing comprehensive financial statements, accounting for hospitality industry requires a deep understanding of industry-specificmetrics and benchmarks.

For travel companies, in particular, accounting practicesextend beyond traditional financial management to include compliance with regulatory bodies such as the Air Travel Organizer’s Licence (ATOL).

ATOL accounting ensures that travel agencies adhere to consumer protectionstandards, safeguarding customer payments against unforeseen events such as airline insolvency or travel disruptions.