Hotel Accountant

In Quebec, the hotel industry's economy is driven by occupancy rates: peak summer season, spring break, conventions and festivals, followed by lulls where fixed costs (mortgage, insurance, energy, maintenance) continue to accrue. Between reconciling the PMS with accounting, booking platform commissions, the 3.5% accommodation tax, VAT, and payroll that fluctuates with occupancy, maintaining accurate books requires an accountant who truly understands the hospitality industry.

That's exactly what we do at Bankeo: we connect you with the right accountant for the hospitality industry, free of charge—one who understands seasonality, capital cost allowances (CCA) on your fixed assets, and tax rebates, as many as you need—and we stay by your side. Whether you run a hotel, inn, motel, or bed and breakfast, you only pay your accountant: the matching process is free and without obligation.

• A marked seasonality: a few peak months make the year's revenue, then cash flow melts away in the low season; a 12-month cash budget becomes essential.
• Remuneration that follows occupancy: staff numbers that can double in high season, part-time work, variable hours and tips to be included in the DAS.
• Commissions of 15 to 25% paid to booking platforms (OTA): gross revenue, commissions and payment differences to be properly accounted for.
• A PMS to be reconciled with accounting: overnight stays, reservation deposits, cancellations and no-shows, revenues received in advance to be correctly reported.
• Heavy fixed costs (mortgage or rent, insurance, energy, maintenance) must be covered even when occupancy falls: the break-even point per room must be known.
• Significant fixed assets: building (category 1), renovations and furniture (category 8), with capital cost allowance to be planned based on your results.
• Business indicators to monitor each month: occupancy rate, average daily rate (ADR) and RevPAR, reconciled with financial statements.

• Collect the 9.975% VAT on overnight stays and ancillary sales, then produce your declarations according to your frequency (monthly, quarterly or annually).
• Collect the 3.5% accommodation tax per night in participating tourist regions and remit it quarterly to Revenu Québec.
• Have a registration number in the Quebec Tourist Accommodation Register and display it in your advertisements.
• Pay the DAS on payroll (tax deductions, RRQ, RQAP, employment insurance, FSS, CNESST) and produce the T4 slips and Relevé 1 slips.
• Apply the Revenu Québec tipping scheme if you serve meals or drinks: declaration of staff tips and allocation by the employer.
• Claim the capital cost allowance (CCA) on the building, renovations and furniture in the T2 and CO-17 (or your business annexes).
• Reconcile the PMS, cash and reservation deposits with the accounting records each month, with supporting documents.

How do I manage my cash flow during the off-season in the hotel industry? Create a 12-month cash flow budget with an accountant who understands the hospitality sector: they'll calculate your break-even point per room, spread out fixed costs (mortgage, insurance, utilities), set aside funds for peak season, and plan your off-season tax rebates. We'll connect you with the right accountant for this sector, free of charge, as many times as you need, and we'll be there to support you every step of the way.

How does the 3.5% accommodation tax work? In participating tourist regions, a 3.5% tax is applied to the price of each night's stay, in addition to the 5% VAT and the 9.975% VAT. You collect this tax and then remit it quarterly to Revenu Québec. Your accountant will configure your PMS, invoices, and remittances to avoid any adjustments.

How much does an accountant cost in this sector? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median cost for this sector is around $1,500 per year. The cost varies depending on whether you are an incorporated company or a self-employed individual, as well as the volume and complexity of your work. Bankeo matching is free: you pay your accountant directly.

How to switch accountants in the hospitality industry without stress? The best time is after your fiscal year ends or before the peak season, never during the busy period. We take care of the rest: free of charge, we introduce you to an accountant who understands the hospitality sector, and the new accountant takes over your books, PMS, and tax files from the previous one. You continue to welcome your guests, the transition happens behind the scenes, and we remain by your side.

Local or remote accountant for my hotel? Both work very well. A local accountant knows your tourist area and its accommodation tax; a remote accountant works in the cloud, directly connected to your PMS and statements. What matters is experience in the accommodation sector, not the postcode: tell us your preference and we'll support you with the right profile, free of charge.

How do you account for revenue from booking platforms (Booking, Expedia, Airbnb)? Record the gross revenue per night, then the platform fees as an expense, instead of only recording the net payment received. You also need to track advance deposits, cancellations, and payment discrepancies, and reconcile platform statements with your PMS and bank statements each month. An accountant experienced with OTAs sets up this process once and for all.