Hotel and Hospitality Audit Service
The hotel business needs to have a strong audit system in order to ensure that it meets company standards. And assess any risks that may affect the business Operational efficiency is also essential to businesses in the hospitality industry.
With economic and competitive factors, hotel business needs tight cost and expense management, which in addition to helping your business use its resources more efficiently, will also prepare businesses in an advantageous position to seize the opportunity to maximize growth when consumer spending rises again.
Our experts understand the challenges in your work environment. We have experience working with a wide range of groups, from independent hotels to large chain networks. Therefore, we understand the challenges and changes taking place in this industry and can help to prioritize business opportunities both in frontend and backend
Problems commonly encountered in hotel and hospitality auditing
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The hotel management could not issue statements to the owner because of a lack of expertise.
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staff knowledge and understanding of accounting is Insufficient
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Accounts receivable details do not match the truth.
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Not enough time for the reconciliation deadline
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Hotel stock products do not match the description.
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The tax liability is incorrectly calculated, such as the sale of rooms with a spa treatment, or sale of rooms with travel packages, etc.
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Incorrect recognition of income, accounting, and tax expenses
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Income tax problem such as the incorrect interpretation of income for tax purposes eg. “Room rental" or "use of the room"
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VAT problem. For example, there are multiple room rates, at which price will be used to pay VAT?
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Documents received - paid inaccordance with the rules of the Revenue Department
Our team can help you
We are confident that our in-depth experience of the hotel business and our proactive advice will help increase operational efficiency and maintain consistent, profitable growth.
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Help verify the correct accounting procedure
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Advance preparation to assess income and expenses for timely tax planning
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Establish internal control system to reduce leakage