Like any business, hotels and other accommodations have both income and expenses. Achieving and maintaining profitability is critical for long-term success. Thus, establishments must properly manage budgets and maintain accurate and updated financial records to accurately assess financial performance. Doing so requires at least one accounting professional, and often multiple in larger organizations. In fact, there are several accountancy-based roles within the hospitality industry. Employers look to fill these roles quickly so that no lapses in monitoring or reporting occur.
Staff Accountant
Most organizations require staff accountants to possess a Bachelor’s in Accounting. These staff members handle a variety of accounting tasks, including bank statement reconciliations and reporting. Depending on the size of the business and requirements from owners or managers, staff accountants run reports at least monthly but likely also weekly as well. In the longer term, some reporting occurs quarterly or annually.
Staff accountants also handle the filing and reconciliation of both sales tax and use tax. Sales tax is the amount added to prices on goods and services, receivable during payment for the sale. Use tax works a little differently, as it is due when goods or services are used or consumed that didn’t have sales tax added upon purchase. Both taxes need to be properly recorded and reported for businesses to remain compliant with government regulations.
While much of the work of a staff accountant is done solo, the role does involve working with other team members and external stakeholders at times. Often, as staff accountants work on the maintenance of accounts payable, they communicate with vendor representatives or external accounting departments. For internal issues, questions, or concerns, accountants work with management staff and other personnel on resolution. Because of this, staff accountants must enjoy contributing to a team effort.
Along with a Bachelor’s degree, most establishments prefer that applicants for staff accountant roles also bring at least a couple of years of experience in an accounting role – within the hospitality industry is a huge bonus. Proficiency with accounting software is also required, as most bookkeeping and accounting are done digitally in modern times.
Junior Staff Accountant
Not all those looking for accounting roles have a four-year degree. For those with an Associate’s degree, the role of junior staff accountant could be a great option. Junior accountants support staff accountants in account reconciliation, expenses, and both internal and external audits. This role requires strong communication skills as well as proficiency in those accounting software programs or a willingness to learn them.
Spending time as a junior accountant is a great step towards reaching a staff accountant position. It’s a great option for those working towards a Bachelor’s degree to help build experience to move up within the accounting world post-graduation.
Accounts Payable Clerk
In some establishments, staff accountants handle all accounts payable responsibilities. However, larger organizations often also employ a dedicated accounts payable clerk to review A/P transactions and ensure the accuracy of ledgers. These clerks also process invoices from vendors as they come in so that accounts remain current. Vendor account set-up is another area in which accounts payable clerks assist. This involves requesting W-9 forms, certificates of insurance (COIs), and licenses – as well as creating a new vendor account within the company’s accounting system.
As far as requirements to become an accounts payable clerk, most organizations require a high school diploma or equivalent. In some cases, the role will also request higher education of some sort, but that is generally just preferred, not required. Accounts payable is a detail-oriented space, so individuals with strong senses of accuracy and attention to detail will be most successful. Having experience with relevant software programs is also preferred. Because these clerks interact with the rest of the accounting department, they must also possess strong communication and interpersonal skills to be able to contribute successfully to the team.
Finding an Accounting Role in Hospitality
With the variety of accounting roles within the hotel and hospitality industry, there is a position for most people interested in pursuing a career in accounting. However, an applicant’s highest level of education may play a role in determining which roles they are eligible for. In any case, finding potential roles isn’t something that should be overcomplicated. That is why we’ve created a comprehensive database of current job opportunities at hotels and extended stay accommodations across the country.
From this database, you can filter by category – selecting “Accounting” to view all roles that fall within the accounting space. Each listing contains requirements in terms of duties and required education and experience, so you can find the one that best suits your background and interests. Applying just takes a couple of clicks, so taking the first step toward a new role is quick and easy.
When interviewing for a role in accounting, keep the following in mind. Because accounting is numbers and data-driven, strong attention to detail is required in any role. Communication skills – both written and verbal – are also critical for success. So, when crafting a resume or participating in an interview, try to articulate those skills as much as possible. Also, companies look for applicants with a desire to grow within the organization. If interviewing for a role as an accounts payable clerk or junior staff accountant, express your interest in doing so if it exists. When higher-level positions open up, hospitality organizations tend to promote from within. Securing one of these entry-level positions may just lead to a role with more responsibility (and greater salary) once you build some experience!