5 Leading Hospitality Accounting Software Platforms

Accounting in any industry isn’t exactly glamorous. Hospitality is definitely no exception. There’s no applause for balancing your books or tracking down missing vendor invoices. However, if your hotel or restaurant’s finances are a mess, it doesn’t take long before everything else starts unraveling too. 

Unfortunately, most off-the-shelf accounting tools don’t understand hospitality. They don’t know what to do with tip pools, comp cards, fluctuating labor costs, or six locations sharing the one inventory system. 

What actually works, then? In this guide, we’re unpacking hospitality accounting software built for your industry. We’ll break down the features that matter and show you how to choose one that won’t let your numbers fall through the cracks. 

What Is Hospitality Accounting Software & Why Does It Matter? 

Industry-specific accounting software is big business. By 2029, it’s expected that the drivers of this industry, like energy, healthcare, and ecommerce, will push the market value up to $33.7 billion. But where does hospitality fit in? Thankfully, hospitality does have its own specific accounting software solutions, and it’s definitely something you will want to add to your existing back-office software.  

This is because, unlike general accounting software, hospitality accounting software is designed to tackle your business’s unique challenges. Tasks such as managing multi-location operations, labor costs going up and down, and complying with regional tax requirements are all typically included in the software.  

Here’s what sets hospitality accounting solutions apart: 

• Real-time tracking so you always know where your money is going. 
• Automation that cuts down on manual data entry and late-night spreadsheet sessions. 
• Easy one-step integrations with your POS, payroll, and inventory systems. 
• Cloud-based access so finances can be managed centrally, even mid-shift, smartphone in hand.  

7 Key Features to Look for in Hospitality Accounting Software 

When choosing hospitality accounting software, make sure it meets key criteria before shortlisting it. Below, we’ve listed the key features you should be looking at for your hotel, restaurant, or venue finance software. 

1. Real-Time Revenue & Expense Tracking

Whether you’re checking in on daily sales or reconciling vendor payments, real-time tracking gives you a live look at your numbers. It’s an easier way to catch issues before they get the chance to snowball and keep your P&L accurate without sifting through weeks of paperwork. For businesses that run loyalty incentives and promotions, this visibility is a must to connect spending with the actual cost of your loyalty program. 

2. Multi-Location & Multi-Department Management

If your business operates in multiple locations or departments, you already know the reporting nightmare that comes with it. Hospitality accounting tools make the process much simpler by pulling all your data into one view. They allow you to track performance by store, region, or concept.  

3. Integration with POS & Payroll Systems

Sales, labor, and inventory data shouldn’t live in silos. By syncing directly with your Point of Sales (POS) and payroll platforms, accounting software automatically maps transactions, flags anomalies, and maintains financial accuracy across the board. It also helps avoid messy overlaps between things like comp cards and gift cards, which easily blurs financial lines if not categorized correctly.  

4. Automated Tax Compliance & Reporting

Between tip reporting, service charges, and different sales taxes by state (and sometimes city), staying compliant is a full-time job on its own. Good software automates tax calculations and filings, reducing risk and helping your bookkeepers and accountants sleep a little better. Even things like complimentary gift cards must be properly tracked to ensure audit readiness.  

5. Budgeting, Forecasting & Financial Planning

Ever experience seasonal spikes, staff turnover, and totally unpredictable customer flow? Welcome to the hospitality industry. Accounting software should have built-in forecasting tools so you can prepare for the chaos before it hits. In combination with following best practices in hospitality venue management, this window into the future is an invaluable part of accounting software for hospitality brands.  

6. Accounts Payable & Receivable Automation

No one wants to spend their week chasing down late invoices or wondering if a payment actually went through. Automating your AP and AR processes keeps your cash flow moving, flags late payments, and reduces manual errors. Vendors get paid on time, and your accountant gets fewer angry emails. 

7. Mobile Access & Cloud-Based Accounting

You’re in hospitality, so it’s fair to say you’re rarely behind a desk. Cloud-based dashboards make it easy to check in on financials from anywhere: off-site, on-site, or halfway through a supplier meeting. Paired with your restaurant payment processing tools, mobile-friendly systems keep everything in sync and accessible.  

5 Best Hospitality Accounting Software Platforms to Consider 

There’s certainly no shortage of accounting tools out there, but not all of them are fluent in hospitality lingo and functionalities. We’ve hand-picked a few platforms that stand out for restaurants, hotels, caterers, and venues looking to simplify their finances. Here’s what each one brings to the table. 

1. M3

M3 is a cloud-based accounting platform built specifically for hotels. It combines core accounting, labor management, and business intelligence (BI) tools in one platform. It’s used across North America by over 1000 hotel groups and individual operators.  

• Features: Daily report automation, tax compliance tools (1099/1096), customizable GL and chart of accounts, multi-entity support, forecasting, budgeting, and labor tracking 
• Pricing: Custom pricing based on quote 
• Integrations: PMS systems, payroll tools, AvidXchange 
• User Experience: Offers role-based access, custom reporting, and ongoing training support for hotel staff at all levels 

2. Sage for Hospitality

Sage supports multiple industries and offers a hospitality-specific range of accounting software tools. It’s designed for multi-property hotels, resorts, and restaurants. Sage streamlines operations and provides real-time financial insights. 

• Features: Accounts payable/receivable, automated billing, cash flow tracking, multi-property consolidations, payroll, and HR management, real-time reporting, forecasting 
• Pricing: Pricing available upon request 
• Integrations: 200+ platform integrations. Sage has an API, so it can technically integrate with all POS and payroll tools.  
• User Experience: Provides intuitive dashboards and customizable reporting, offering a strong focus on real-time decision-making, budgeting, and forecasting across properties 

3. InnFlow

InnFlow offers a range of hotel management tools but is well known for its accounting solution. InnFlow has been specifically developed to help large hotel chains manage finances across multiple locations. 

• Features: Real-time financial data, forecasting, dispute tracking, budgeting, and construction tracking over multiple locations. 
• Pricing: Pricing is available upon appointment with sales. 
• Integrations: Agilysys, Amadeus, Cloudbeds 
• User Experience: Known for its user-friendly interface, InnFlow offers AI-powered tools to simplify accounting and labor management, making it easier to handle tasks across multiple properties.

4. Restaurant365

This accounting software is for restaurants. Restaurant365 is built to automate back-office operations and improve margins. It offers full AP automation, banking integration, and financial reporting for solo and multi-location restaurants.  

• Features: Accounts payable automation, fixed asset management, forecasting, custom financial reporting, daily sales tracking, dispute resolution 
• Pricing: Starts at $499/month per location (Essential); $749/month for Professional; custom pricing available 
• Integrations: US Foods, OpenTable, Yelp 
• User Experience: Designed for restaurant operators, the platform connects directly with POS and bank systems to reduce manual work and provide real-time insights across locations 

5. Craftable

Craftable’s cloud-based hospitality accounting software “Books” is designed to optimize accounts for bars, restaurants, and hotels. It aims to reduce costs, improve profits, and streamline accounting operations across multiple locations. 

• Features: Recipe costing, real-time inventory tracking, menu engineering, automated accounts payable, sales, and labor reporting 
• Pricing: Pricing varies based on location and features; contact for details 
• Integrations: QuickBooks, Acumatica, Aptech 
• User Experience: The platform is user-friendly, with AI-powered automation for inventory and accounting, and is highly customizable for different types of hospitality businesses. 

How to Choose the Right Accounting Software for Your Hospitality Business 

There’s no single “perfect” tool when it comes to hospitality accounting software. The right platform for your business depends entirely on how it runs. The goal is to find something compatible with your operations and existing technology nearly perfectly. 

Identify Your Business’s Accounting Needs 

Start by sizing up your business. A multi-site restaurant group has far different needs than an independent hotel. Look at things like your sales volume, staffing structure, and how many locations you currently have. The more complex, the greater the need for features like automation and customization.  

Compare Pricing & Subscription Models 

Hospitality businesses are extremely varied in size, concept, and complexity. This is the big reason why some form of sales appointment is generally required before pricing is revealed.  

Some platforms charge per location, while others offer one-time licenses. Subscription-based tools tend to come with regular updates and support which include hospitality niche facets like support for loyalty programs. Per-location pricing often comes with better centralization. When evaluating the cost, consider how features like automation are going to ultimately affect your ROI. 

Evaluate Software Integrations & Scalability 

You’ll want a system that plays well with the technology you’re already using. It should work with your POS, payroll, and tax tools. Even something like gift card program optimization hinges on tight integration with your accounting platform for accurate revenue tracking. 

Prioritize User Experience & Customer Support 

Software should empower your team—not frustrate them. Look for intuitive dashboards, easy onboarding, and support responsive enough to step in when it counts. Even features like restaurant mobile payments benefit from accounting tools that work with your tech and your team. 

Frequently Asked Questions About Hospitality Accounting Software 

Here are the most common questions we’ve seen (and heard) about accounting software in hospitality. If you’ve been wondering the same things, you’re not alone, and we’ve got answers. 

What is the best accounting software for the hospitality industry? 

The best accounting software for the hospitality industry is the one that’s built for it. It’s also the one that fits your business operations. Options like M3, Restaurant365, and Sage are purpose-built for hotels and restaurants. Even general tools like Xero or QuickBooks work well with the right add-ons and integrations. 

What is the standard accounting system in the hospitality industry? 

The most commonly used accounting software in hospitality is QuickBooks. This is simply because it’s one of the most widely adopted platforms in every industry. That said, whichever software you go with must adhere to the Uniform System of Accounts for the Lodging Industry (USALI). It’s the gold standard for financial reporting in hotels and similar operations. 

Taking the Next Step 

Choosing the right hospitality accounting software is just the beginning. It makes your life (and your accountant’s life) easier and keeps operations smooth and running efficiently. The right fit for your business is the one that fits your business best. This means it integrates well with your existing software and programs and is designed specifically to service your business industry—be that a hotel, restaurant, resort, or entertainment venue.  

It’s key to also consider your guests' experience. Platforms like Paytronix offer seamless integration with your accounting systems and enhance your revenue tracking.  

Ready to enhance your brand’s guest engagement, marketing, and CRM with accounting? Book a demo today and learn how Paytronix can drive business growth and help your hospitality business keep customers coming back.