Evention LLC
General ledger reconciliation is an essential part of the accounting process, and certain types of tools and techniques can streamline the process, saving you time and ensuring accuracy. Keep reading to learn about common challenges in general ledger reconciliation and how optimizing the right type of technology can help. What Is a General Ledger? A […]
Is the accounting process the same in every type of business? For the most part, yes, but there are some important differences depending on the industry. Hospitality companies, in particular, have some unique circumstances that make tracking, analyzing, and reconciling financials a bit different than other types of business accounting. Keep reading to discover best […]
Part of being successful in the hospitality industry means consistent revaluation of what’s working — and what isn’t. This often includes taking a look at room upgrades, amenities, and offerings, but the reassessment shouldn’t stop with customer-facing products and services. In order to operate efficiently, you need to ensure your office, management, and accounting practices […]
There are a variety of point of sale (POS) systems on the market — in-store, kiosk, mobile, tablet, cloud, terminal, and multichannel, to name a few — and if you have more than one, you may find it challenging to master the process of financial reconciliation. If you’ve been experiencing problems, such as different payment […]
Efficiency is the cornerstone of success in the dynamic hospitality industry, and being able to pivot when a roadblock appears is extremely important to stay competitive. This was one of the issues Evention addressed when implementing Total Recon at a certain 162-room luxury hotel. The property was new with six outlets, and back-office accounting work […]
Credit cards are an increasingly intrinsic part of the global economy with more than 5.6 billion in circulation around the world. More and more hospitality and retail businesses are embracing cashless payment options, credit cards in particular, which is why it’s essential to understand the details and requirements of credit card reconciliation. What Is Credit […]
