Hotel account

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This discussion covers the accounting for hotel and banquet rooms, including purchase and sales entries. It also touches upon franchise accounting, which incorporates specific fees like royalties and marketing costs. The advice suggests debiting your bank account when payments are received.

Atul Nagarkar

Atul Nagarkar (Querist)

11 November 2022 I have started accounting for hotel and banquet rooms.
Main purchase accounting entries and sales enties
They have taken other food frenchiee.
How I maintain account
Please give replay

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 November 2022 Franchise accounting is the application of accounting to franchises. It functions much like non-franchise accounting, but it takes the unique fees associated with franchises, like royalty fees, amortizing initial fees, and marketing fees, into consideration.

Atul Nagarkar

Atul Nagarkar (Querist)

11 November 2022 We have received payment through gpalyband paytM
Account entry

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 November 2022 If payment received in your bank account debit bank account.

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