Hospitality Accounting Professionals: All the Reasons to Love What You Do
As the U.S. Thanksgiving holiday approaches, here is a reminder of what our accounting members should be thankful for this year. Written by: Katie Paolino, CHAE When our mind starts to spiral, why is it always into a black hole…
HFTP Club Summit 2022: The Greatest Knowledge Source Comes from Experience
Step right out onto a terrace of The Westin Riverwalk Hotel and immediately enjoy a sun-drenched view of the famed San Antonio Riverwalk. This made an ideal backdrop for the HFTP 2022 Club Summit that took place earlier this week,…
Now Is the Time to Improve Your Accounting Processes
Written by: Katie Paolino, CHAE | Cyber HITEC Guest Blogger If your processes are not tight, you may be bleeding money. And who can afford that in 2020? PKF O’Connor Davies presented on Accounting Processes and Procedures at Cyber HITEC…
The Little Known but Mighty Facts of the USALI Schedule, 11th Edition
Written by: Agnes DeFranco, Ed.D., CHAE, CHE, CHIA, CAHTA When people think of the Uniform System of Accounts for the Lodging Industry (USALI), most often they envision a Summary Operating Statement (SOS) or an Operated Department schedule like Rooms or…
Club Tax Expert Explains New IRS Guidance on Employee Social Security Payroll Tax Holiday
Written by: Brad Steele, J.D. Attention, clubs: on August 8, the United States President issued an executive order deferring a portion of your employees’ payroll taxes. This payroll tax holiday runs from September 1 to December 31, and only employees…
USALI Recording Guidance Part 3: Government Loan Assistance
As a result of the current economic situation, entities that own or lease hotels are eligible to apply for and receive a loan under a government assistance program. An example of this is the Paycheck Protection Program (PPP) in the…
USALI Guidance Part 2: Government-sponsored Wage Subsidies and Grants
During the Covid-19 global pandemic, some governments have decided to support industries with significant revenue losses and offer wage grants/subsidies to keep workers employed during the crisis. To help guide users, the USALI Global Finance Committee came together to collaborate and issue…
Survey Shows Areas of Agreement, Improvement for USALI Future Editions
The AH&LA Financial Management Committee (FMC) conducted a survey on the Uniform System of Accounts for the Lodging Industry (USALI) earlier this year, specifically focusing on issues that merit further discussion by the FMC. Revisions to the USALI are overseen by the FMC,…
Exploring the GHACP: A Valuable Resource for Hospitality Finance Professionals
HFTP has developed a unique resource for the hospitality industry — the Global Hospitality Accounting Common Practices (GHACP). The GHACP is an online resource and guide for hospitality industry accounting practices, which includes four major parts: operating schedules, indextionary, HFTP…
How to Write a Good Job Description
Written by: Amanda Belarmino Remember when Rupert Holmes asked the famous musical question, “Do you like piña coladas, and getting caught in the rain?” The songwriter was trying to attract the right kind of person with the tone of their personal…