Accounting for hotels and hostels

Published 12 March 2020. Some rules have changed since; ask us for the current position.

We provide accounting services for hotels and hostels in Ukraine. We know the specifics of the hospitality industry and handle any business task in it professionally. The sector is growing fairly quickly in Ukraine and moving closer to EU standards. It still has its difficulties, as requirements are very high and it is not always possible to work out every detail on your own. We will help you run your business honestly, transparently and lawfully, and prepare for inspections so that the risk of fines is kept to a minimum. Our specialists know how to deal with the regulators and will arrange for reports to be filed with the tax authority, the Pension Fund of Ukraine and the statistics authorities.

How to keep the books in the hotel business: accounting for hostels, sanatoriums and hotel complexes

The best option is to outsource, and here is why. A motel or hostel needs only one accountant. Large hotel complexes and tourist resorts need several, and sometimes a whole accounting department. It is important that the people doing the work have strong management accounting skills.

We will take on:

source documents;
payroll;
monitoring room bookings;
corporate income tax accounting;
tax planning;
support during inspections;
filing reports.

Accounting specifics in tourism

Some expenses are specific to the hotel business, such as staff uniforms, which should be kept separate from protective workwear, and road construction costs. It is very important to reflect these in the company's accounting policy.

We work with both legal entities and individual entrepreneurs (FOP). Bookkeeping is simpler under the simplified single tax (yedynyi podatok), so Key Solutions charges less for accounting services for FOPs. To get your finances and accounting in order, it is essential to work with a firm whose accountants have extensive experience in this particular field, the hospitality industry. We are that kind of outsourcing firm, with all the resources needed to handle the financial matters of: