Hotels and vacation rentals
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Accounting for hotels and vacation rentals
The hospitality industry and management of tourist accommodations require accounting practices that go beyond standard frameworks. This sector operates in a strictly regulated environment, with clearly defined requirements for documentation, reporting of overnight stays, VAT on tourism services, and revenue registration. Seasonality and fluctuating income further complicate financial planning.
Whether you manage a family hotel, a holiday home, or a resort with a restaurant and spa, your accounting must take into account a variety of factors – including booking methods (direct, through platforms, or via tour operators), the diversity of services offered, and the applicable tax treatment for each revenue stream.
What makes accounting in the hotel industry unique?
Revenue reporting by service type
- separation of income from overnight stays, breakfasts, and additional services by booking channel (e.g., direct, Booking.com, Airbnb), including tourist tax and gross revenue reporting
Use of payment systems and fiscal software (SUPTO)
- every transaction must be fiscalized when paid by cash or card, regardless of whether it was made on-site or through a booking platform
Monthly tourist tax declaration
- mandatory reporting to the municipality by the 15th of the month following the reporting period, applicable to holiday homes and small properties as well
Accounting for platform commissions and fees
- accurate expense recognition for fees deducted by online booking platforms, supported by proper invoicing
Tax treatment of maintenance, furnishing, and marketing expenses
- clear distinction between operating expenses and capital investments subject to depreciation
Separate accounting for funded projects
- when public grants or non-commercial activities are involved, separate reporting is required in compliance with legal standards
Cost tracking by category
- detailed cost allocation for food, consumables, maintenance, laundry, and logistics to improve profitability monitoring
Depreciation tracking for buildings and assets
- correct calculation of depreciation by type of fixed asset, with monitoring of both book and tax values
Handling of advances, deposits, and cancellations
- proper VAT application for received advances and issuance of credit notes for cancelled bookings
Payroll services for seasonal and shift-based employment
- reporting of hourly wages, shift work, overtime, holiday labor, and social security contributions during peak periods
Why do hoteliers trust ATP Konsult with their accounting?
Contact us
Contact us for a customized offer and accounting solution tailored to the structure and scale of your accommodation business.
Christina PanayotovaManager of VILLA SINTIKA, town of Gdansk. Sandanski