Accountant for the hospitality industry

In Quebec, the hotel industry operates according to occupancy rates: the busy summer season, spring break, conferences, and festivals, followed by slow periods when fixed costs (mortgage, insurance, utilities, maintenance) continue to accrue. Between reconciling the PMS with accounting records, commissions from booking platforms, the 3.5% lodging tax, the GST/QST, and payroll that fluctuates with occupancy, maintaining reliable books requires an accountant who truly understands the lodging industry.

That’s exactly what we do at Bankeo: we’ll connect you, for free, with the right accountant for the hospitality industry, one who understands seasonality, CCA on your fixed assets, and tax rebates as much as you need, and we’ll stay by your side. Whether you run a hotel, inn, motel, or bed-and-breakfast, you pay only your accountant, the matching service is free and comes with no obligation.

• Marked seasonality: a few peak months drive the year’s revenue, then cash flow dries up during the off-season; a 12-month cash flow budget becomes essential.
• Payroll that adapts to occupancy: staff numbers that can double during peak season, part-time employees, variable hours, and tips to be included in the source deductions.
• Commissions ranging from 15% to 25% paid to online travel agencies (OTAs): gross revenue, commissions, and payment discrepancies must be properly recorded.
• A PMS that needs to be reconciled with accounting: room nights, reservation deposits, cancellations, and no-shows, as well as advance revenue that must be properly recorded.
• Heavy fixed costs (mortgage or rent, insurance, utilities, maintenance) must be covered even when occupancy drops: the break-even point per room must be known.
• Significant fixed assets: buildings (Category 1), renovations, and furniture (Category 8), with an CCA schedule to be planned based on your financial results.
• Key performance indicators to track each month: occupancy rate, average daily rate (ADR), and RevPAR, reconciled with the financial statements.

• Collect the 5% GST and 9.975% QST on room stays and incidental sales, then file your returns according to your filing schedule (monthly, quarterly, or annually).
• Collect the 3.5% lodging tax per night in participating tourist regions and remit it to Revenu Québec on a quarterly basis.
• Have a registration number with the Quebec Tourist Accommodation Registry and display it in your listings.
• Withhold source deductions from payroll (income tax, QPP, QPIP, employment insurance, HSF, CNESST) and file T4 forms and RL-1 slips.
• Apply Revenu Québec’s tip rules if you serve food or beverages: reporting employee tips and employer allocation.
• Claim the CCA for the building, renovations, and furnishings on Form T2 and Form CO-17 (or your business schedules).
• Reconcile the PMS, cash register, and reservation deposits with the accounting records each month, using supporting documents.

How Do I Manage My Off-Season Cash Flow in the Hotel Industry? Create a 12-month cash flow budget with an accountant who specializes in the hospitality industry: they’ll calculate your break-even point per room, allocate fixed costs (mortgage, insurance, utilities), set aside funds for peak season, and plan your off-season tax refunds. We’ll connect you with the right accountant for this industry, for as long as you need, and we’ll be there for you every step of the way.

The 3.5% lodging tax, how does it work? In participating tourist regions, a 3.5% tax applies to the price of each night’s stay, in addition to the 5% GST and 9.975% QST. You collect this tax and remit it to Revenu Québec quarterly. Your accountant configures your PMS, invoices, and remittances to avoid adjustments.

How much does an accountant cost in this sector? According to the Bankeo Fee Barometer, based on 1,248 real-world cases (2024-2026), the median cost for this sector is around $2,250 per year. The cost varies depending on whether you are a corporation or a self-employed individual, as well as the volume and complexity of your work. Bankeo’s matching service is free: you pay your accountant directly.

How Can You Switch Accounting Firms in the Hospitality Industry Without Stress? The best time is after your fiscal year-end or before the peak season, never in the middle of a busy period. We’ll take care of the rest: for free, we’ll connect you with an accountant who specializes in the hospitality industry, and the new accountant will take over your books, PMS, and tax records from your previous accountant. You keep welcoming your guests, the transition happens behind the scenes, and we’re right there with you every step of the way.

Should I hire a local or remote accountant for my hotel? Both options work very well. A local accountant knows your tourism region and its lodging tax; a remote accountant works in the cloud, directly connected to your PMS and your statements. What matters is experience in the hospitality industry, not your postal code: tell us your preference, and we’ll match you with the right professional, for free.

How do you record revenue from booking platforms (Booking, Expedia, Airbnb)? Record the gross revenue from the overnight stay, then record the platform fees as an expense, rather than simply posting the net payment received. You also need to track advance deposits, cancellations, and payment discrepancies, and reconcile the platforms’ statements with the PMS and the bank every month. An accountant familiar with OTAs sets up this process once and for all.