Accounting Information System for Travel and Tourism Businesses in New Zealand

This article discusses the importance of accounting information systems for travel and tourism businesses in New Zealand, and recommends the best systems for large hotels, holiday resorts, motels, and bed and breakfasts. The recommended systems include ERP, MYOB AccountRight, Fresh Books, and Sage Intacct, and the article explains the benefits of each system.

Running head: Travel and Tourism
Travel and Tourism

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Contents
Introduction.................................................................................................................................................2
Accounting Information System in New Zealand for a large hotel..............................................................2
Accounting Information System in New Zealand for a holiday resort.........................................................3
Accounting Information System in New Zealand for a motel......................................................................4
Accounting Information System in New Zealand for providing bed and breakfast.....................................5
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7

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Introduction
The Accounting Software explains the type of application software which maintains the
records and processes the commercial transactions within the functional modules such as
accounts receivables and payables, general ledger, payroll, journal and trial balance. It performs
its functions like the accounting information system. It may be formulated in-house by the
company using it, procured from the third party or may be a combination of both of them
(Dandago & Rufai, 2014).
So, in this article, the accounting information system regarding the establishment of a
large hotel, holiday resort, motel along with bed and breakfast in New Zealand would be
recommended. Furthermore, justifications would be given for the selection of a particular type of
information system.
Accounting Information System in New Zealand for a large hotel
As per MYOB Technology Pty Ltd. (2018) the smoothest way to manage the large scale
business and complex businesses, looking after the administration of supply chains, expenses,
jobs and reporting can be regulated by ERP. It comprises of software related to accounting.
Through ERP, the personnel can access comprehensive data for any part of the business,
customize the dealing with payroll and managing the operations of HR. It has automated the
critical accounting transactions and operations of projects.
Through the use of ERP in the accounting systems of large hotels, the real-time data can
be used to manage every single part of the business in the hospitality sector. It can trace the
details regarding sales, managing of workforce and inventory along with the monitoring the

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finances at every step. It also manages complex payrolls for workforce numbering more than 200
along with keeping all the records at a single place in the software.
It is able to see the entire projects from end to end. It helps to grow the business through
managing the leads, commercial transactions and finances at its every step. It pertains to the
tracking of mistakes at every step in more detail. It helps in accessing the guest history by
altering, modifying and organizing the data of guests along with securing the information over
the cloud servers.It provides the information regarding the availability of rooms , their check-ins
and outs in order to coordinate the movements of guests( do Carmo, Gomes & da Silva
Macedo,2015).
Accounting Information System in New Zealand for a holiday resort
One of the cloud reservation systems for holiday resorts is MYOB AccountRight. It is a
combined power of SaaS( Software acting as Service ) and cloud computing for cloud
reservation systems and property management systems.
It is software based on cloud system which is user-friendly and easily makes the intuitive
systems to work with. It provides digital marketing solutions and property management on a
single platform. It contains various features for managing online booking, monitoring of check-
ins and outs, bookkeeping etc.
As per MYOB Account Right (2018), it gives instant online visibility for clients along
with the facility to import their information using its classic versions of MYOB Account Right
with the help of a serial number. The dashboard facility gives the facility to instantly migrate
from the classic version to an online ledger and simplify the creation of online business files.

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One of its significant analytical tool Microsoft Power BI helps to visualize Account
Rights Live data with the well-constructed and interactive dashboard. Through connecting with
Power BI and Account Right Live, the custom reports can easily be created to evaluate and
customize the data relating to clients. It can be combined with data sources and other key
insights which can assist in driving business and boosting up the profits.
With the help of this software, the holiday resort business can calculate and meet the
monthly and quarterly legal obligations such as BAS and PAYG. It can efficiently manage the
payrolls and automatically updates the business about the amendments to the Government
legislation (Ayeboafo, 2012).
Accounting Information System in New Zealand for a motel
Fresh Books is an accounting and finance software which is best suited for a motel
business. Through this software, the business is able to manage the subscription and accounts
along with collecting online payments within the same mechanisms.
It enables PayPal, Google Checkout and credit card payments along with coordinating
with many online business systems to streamline the process. With the help of this software, the
various features of financial controls can be united into a single system. It has a more redesigned
interface in which the invoices are customized with more advanced tracking capacity. The new
version of Fresh Books helps in simplifying the current accounting system which improves the
quality of work. It helps in automatically prioritizing the task with customized probabilities and
tracking late payments ( Murungi & Kayigamba, 2015).

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It has also established its mobile platforms for iOS and Android phones which allow the
accessibility of data and do accounting irrespective of the location. It can secure backups so that
the data can be stored safely. Its accounting app can be used for automatically maintained and
upgraded with instantly doing accounting. It has further redesigned its time to track function for
purposes of billing by permitting the companies for accepting online payments.
It can track all the expenses by prioritizing the system and displaying it in a way which
shows the crucial assignments to the team. It can allow the customization of features and
attachment of files by triggering the notification and setting the alerts for delay of payments and
assigning the expenses and different rates for each project. It can also track billing and brad
invoices in a convenient manner (Finances Online, 2018).
Accounting Information System in New Zealand for providing bed and breakfast
Since the business of providing bed and breakfast to clients is a small scale business, so
Sage Intacct is accounting software which is developed for the hospitality sector. It handles the
financial information and its software is based on the Cloud. Thus the financial information can
be viewed by logging in to the software. The bookkeeping tool of this software can
automatically perform the accounting activities and transfer the information to the desired
location and property ( Zheng, 2012).
It permits the users to create flexible charts related to financial information which can be
downloaded for free. It can also support various ownership structures such as franchises etc. It is
fully compatible with the accepted accounting standards (Wondershare, 2018). Its applications

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are appropriate for small and middle size corporates and have the ability for providing real-time
financial and operational transactions along with the capability to automate the critical
procedures.
It delivers an array of core applications of accounting like the general ledger, accounts
payable and receivable along with the management of cash and orders. It also comprises of
dashboards and built-in reporting, management of time and expenses, accounting of projects,
multiple entry consolidations and revenue management. It can also integrate with other
applications such as CRM and payroll systems which allow the users to select their desired
applications to leverage the businesses (Lu et al., 2012).
Conclusion
This assignment can be concluded by saying that accounting is amongst the important
areas in hotel management. In order to deliver accuracy in the account statements in the
hospitality sector, some of the benefits to be provided by the software can be a depiction of
comparison of profits, budgets, preparation of financial statements and balance sheets, cash flow
statements and payroll management.

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References
Ayeboafo, B. (2012). The role of accounting educators in bridging the gap between accounting
theory and accounting practice. Research Journal of Finance and
Accounting, 3(10), 11-114.
Dandago, K. I. & Rufai, A. S. (2014). Information technology and accounting information
system in the Nigerian banking industry. Asian Economic and Financial
Review, 4(5), 655-670.
do Carmo, L. M., Gomes, M. Z. & da Silva Macedo, M. A. (2015). The Role of Information
Systems and Technology Competencies for Accounting Education from the
Gender Perspective. Revista Sociedade, 10(3), 155-172.
Finances Online(2018). What is FreshBooks? Retrieved September 11th , 2018 from
https://reviews.financesonline.com/p/freshbooks/
Lu, K., Fu, Y., Gu, C. & Zhang, L. (2012). Problems and solutions of popularization of
accounting computerization. Physics Procedia, 33, 1155-1159.
Murungi S., & Kayigamba, C. (2015). The impact of computerized accounting system on
financial reporting in the ministry of local government of Rwanda. Journal of
Emerging Trends in Economics and Management Sciences, 6(4), 261-265.
MYOB Account Right(2018). Get ultimate control with dashboard .Retrieved September
11th , 2018 from
https://www.myob.com/au/accountants-and-partners/dashboard

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MYOB Technology Pty Ltd.(2018). The ins and outs of ERP. Retrieved September 11th , 2018
from https://www.myob.com/nz/enterprise
Wondershare(2018). Widely Used Top 5 Hotel Accounting Software. Retrieved September
11th , 2018 from https://pdf.wondershare.com/accounting/hotel-accounting-
software.html
Zheng, X. (2012). Management accounting practices in China: current key problems and
solutions. Social Research, 29(4), 91-98.