Hotel Accounting Manager

About the company - Our client is a global wellness hospitality group.

JOB OBJECTIVES

The Hotel Accounting Manager is responsible for overseeing the financial operations of the hotel, ensuring the accuracy and integrity of financial reporting, managing accounts payable and receivable, maintaining compliance with local and national tax laws, and supporting the hotel's financial objectives through strategic planning and analysis.

RESPONSIBILITIES

All Departments:

• Ensures that all work is done accurately, timely, and in accordance with accounting standard practices and in compliance with the Uniform System of Accounts for the Lodging Industry (USALI)
• Coordinate and oversee all financial operations within the hotel, ensuring that financial processes are efficient, accurate, and comply with internal policies and external regulations.
• Supervise the accounts payable and receivable functions, ensuring timely processing of invoices, payments, and collections while maintaining accurate records of all transactions.
• Verify and approve all financial transactions, including invoices, payment requests, and journal entries, ensuring compliance with hotel policies and accounting standards.
• Manage the month-end and year-end closing processes, ensuring that all financial data is accurately recorded and reported in a timely manner.
• Prepare and analyze financial reports, including income statements, balance sheets, cash flow statements, and budget variance reports, providing insights into the hotel's financial performance.
• Monitor and manage cash flow, ensuring that the hotel has sufficient liquidity to meet its financial obligations and optimize cash management strategies.
• Oversee tax compliance, including the preparation and filing of local, state, and federal tax returns, ensuring that all tax obligations are met on time and in accordance with applicable laws.
• Ensure accurate and timely reconciliation of all general ledger accounts, including bank accounts, accounts payable, and accounts receivable, identifying and resolving any discrepancies.
• Manage relationships with external auditors, tax authorities, and financial institutions, coordinating audits, tax filings, and other financial reviews as needed.
• Develop and implement accounting policies and procedures that enhance the accuracy and efficiency of financial reporting, including internal controls and risk management practices.
• Lead and mentor the accounting team, providing guidance, training, and support to ensure that all team members are performing at their best and contributing to the overall success of the hotel.
• Collaborate with department heads to develop and manage departmental budgets, ensuring that spending aligns with the hotel's financial goals and providing financial analysis to support decision-making.
• Conduct regular financial reviews with department heads, including variance analysis and budget forecasts, identifying opportunities for cost savings and revenue enhancement.
• Assist in the preparation of financial forecasts and strategic plans, providing financial insights and analysis to support the hotel's long-term objectives.
• Manage the hotel's capital expenditure (CAPEX) process, ensuring that all capital projects are properly budgeted, approved, and monitored for financial performance.
• Ensure compliance with all financial regulations and reporting requirements, including GAAP, IFRS, and local accounting standards, maintaining up-to-date knowledge of changes in accounting and tax laws.
• Oversee the implementation of accounting software and systems, ensuring that they are effectively used to streamline financial processes and improve data accuracy.
• Participate in hotel management meetings and provide financial input and recommendations to support the hotel's overall business strategy.
• Other assignments as directed by the General Manager, including special projects, financial analysis, and support for business development initiatives.
• Participate and contribute to the ongoing implementation of new software systems for the hotel, including PMS, POS, financial, and purchasing software, with the company's assistance in ongoing training and development support.

Tax Compliance:

• Ensure compliance with all tax regulations, including the preparation and filing of local, state, and federal tax returns.
• Coordinate with external tax advisors to ensure that the hotel is in compliance with all tax laws and that any changes in tax regulations are properly implemented.
• Prepare and review tax reports and schedules, ensuring that all tax-related information is accurately recorded and reported.

REPORT LINE & COMMUNICATION

• Report directly to the General Manager and Director of Finance, providing regular updates on the hotel's financial performance and any issues that may impact the hotel's financial health.
• Work closely with department heads to ensure that financial processes are integrated across the hotel and that all departments are aligned with the hotel's financial goals.
• Coordinate with external auditors, tax authorities, and financial institutions, ensuring that all financial reporting requirements are met and that any issues are promptly addressed.

JOB REQUIREMENT

• 7+ years of experience in a senior accounting role, preferably within the hospitality industry.
• Proven track record in managing financial operations, financial reporting, budgeting, and forecasting in a hotel setting.
• Bachelors degree in Accounting, Finance, or a related field required. CPD Holder is preferred.
• Strong knowledge of accounting principles and practices, including GAAP, IFRS, and tax regulations.
• Proficiency in accounting software and financial management systems.
• Advanced Excel skills and computer literacy, including proficiency in Microsoft Office.
• Strong analytical and problem-solving skills, with the ability to analyze complex financial data and make informed decisions.
• Ability to manage multiple priorities, work under pressure, and meet deadlines.
• Proven leadership skills, with the ability to mentor and develop a high-performing accounting team.
• Strong interpersonal skills, with the ability to communicate effectively and manage well at all levels of the organization.
• High level of integrity and ethical standards, with a commitment to maintaining the accuracy and confidentiality of financial information.
• High level of integrity and dependability, with a strong sense of urgency and results-orientation.
• Excellent communication and interpersonal skills, with the ability to work effectively with team members and stakeholders.
• Moderate proficiency in English required.
• Ability to multi-task, work under pressure, and maintain a strong attention to detail with a focus on continuous improvement.