Importance of Accounting software for Travel Agents

Accounting

Travel agents need to take care of an array of things to keep the clients happy and survive in this cut-throat competitive sector. They need to seek software solution for automating their business management needs, especially accounting ones. As mentioned earlier, they are too busy to manually do their accountancy tasks. An excel accounting software for travel agency company cannot address all the complex accounting needs these days.

A more robust and advanced accounting system backed with smart software solution can keep their tourism business flourish in this modern time.

Accounting Software

An accounting software is a kind of application software that automates and records accurately all the accounting transactions in a systematic way. They are also expected to record accounting data, track indicators, and report on the financial activity in an easy-to-understand and accurate manner.

Travel agency management software free download options are there but it is better to opt for feature-rich robust paid ones.

Importance of accounting software to travel agents

Travel agents widely embrace a robust and user-friendly accounting software these days as it can help in minimizing costs and boost productivity. Travel agency accounts excel format offers limited scopes.

With a reliable accounting software in hand, they can accurately forecast expenses and develop a smarter investment strategy.

  • Automated calculations help even a non-accounting audience the ability and confidence to perform all accounting operations.
  • Travel agents can avoid costly human errors.
  • They can achieve a complete financial transparency
  • They can develop a better understanding of their financial performance trend and pattern. This facilitates accurate forecasting.
  • The software helps in assembling, organizing and analyzing financial data to offer better insight into their current financial situation.
  • It minimizes the workload to a great extent.
  • It helps in saving money on printing and distributing paper-based documents storing sensitive data.
  • Travel agents can stay in compliance with the latest tax laws and regulations as the modern accounting system keep them acquainted with all recent developments in the tax field.

A few examples of accounting software for travel agents

ABH Trabill

It is counted among the best accounting software for travel agents available these days in Bangladesh. ABH Trabill is a cloud-based software with daily backup facility. It is user-friendly and easily customizable.

It features easy client and vendor refund facility, custom ledger generating system, hassle-free invoicing system, office expense management system etc. You can add unlimited users with different types of roles assigned, unlimited accounts and dynamic services with greater ease now.

ABH Trabill can generate different report like expenses, sales, collection, profit/loss statement, daily/monthly financial statement etc

Xero

This is available as a free option only for 30 days with no restriction on the number of users and no credit card requirement. You can sync this multi-currency travel agents accounting system with 700+ third-party tourism apps to smoothly operate your business.

You can record and manage expenses easily with the mobile accounting app. Plus, you can generate personalized online invoices for regular clients on a recurring basis. Xero can create financial reports and offers a high level of security with secure SSL encryption.

It features a smart dashboard, payroll tools, supports VAT, track purchase orders, bank reconciliation etc.

TravelWorks

TravelWorks by PC Voyages is a cloud-hosted business and accounting software designed for travel agencies of any size. Android and iOS TravelWorks apps are available for smartphones and tablet users. It offers excellent back office solutions for travel agents.

This software can provide you with invoicing and accounting facilities, along with reservation management, CRM functionalities. TravelWorks enjoys seamless integrates with multiple GDS and booking engines in the tourism industry, like Worldspan, Galileo, and Sabre.

You can customize the access level for each user according to your preference. It enjoys extensive reporting capabilities.

ONTRAcc® Accounting

ONTRA is a boutique travel technology company with headquarter in Navi Mumbai and has offices in New Delhi in India and in California, USA. One of its software products is ONTRAcc® Accounting is exclusively designed for addressing the accounting needs of travel agents.

This travel agency accounting system features invoices, journal entry, ledger post, trial balance, adjustments, close entries, close books, and supports ticket booking via portals. It comes with a powerful double-entry bookkeeping system.

With this software, you can generate GDS vendor report, agent report, journal entry details report, agent sale activity report etc.

TRAACS

It stands for Travel Agents Accounting System that offers an end-to-end travel accounting and management solution to travel agents. TRAACS is a reliable software from Nucore. It enjoys easy integration of online booking engines with all leading GDS.

You will get a double entry system with an auto-posting facility. You can drill down from a balance sheet to ticket booking using this accounting tool. Document reversal and easy year-end accounting with just a single click are possible. SHA-1 encryption 2048 bit ensures high-security standards. This travel agents accounting system supports multi-currency.

Users will benefit from the auto real-time invoicing facility with the direct email system,credit card, and bank reconciliation etc.

About the Author

Danish Mehmood
My name is Danish mehmood.I am blogger and freelance writer.I publish articles on many websites.You can contact me any time.My email id is s0542599232@gmail.com .You can Contact me anytime for Guest Post.

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