Accounting for Hotels

In the current corporate culture of complex regulations and complex financial reporting standards, it can be difficult for your hospitality company to guarantee the transparency of financial matrices while controlling operational aspects on a day to day basis.

Regulatory hurdles, critical financial estimates, sophisticated procedural formalities, extended financial reporting details required for tax calculation, and prudent behavior in the formation of financial statements might come out to be hazardous and more challenging to manage than running the hotel business itself.

Our years of experience and a team of experts enable us to serve your hotel business’s financial side by taking care of taxation and other matters of regulatory compliance. We enable you to take off accounting from your to do list and place a keen eye on strategic aspects of the business.

How do we intend to serve and areas of service?

Accounting For HotelBased on market understanding and years of experience we consider that businesses should consider subcontracting the bookkeeping to a company of professional accountants and free up themselves for comprehensive market understanding and strategic business growth. We offer exceptional accounting services for hotels and enjoy a strong reputation within the Czech Republic. Our main services fall in the areas of taxation, business advisory, risk advisory, banking management, internal controls, business process improvement, e-commerce based accounting, e-commerce taxation, liquidation, change of the business address, and other business hurdles to successfully operate the company in the Czech republic.

Why work with us?

  • Sound understanding of the hospitality business laws prevailing in the Czech Republic.
  • An experienced team of experts to ensure a higher level of services.
  • All the services are delivered with our maker-checker policy.
  • Sound quality measures and internal controls in all the services offered.
  • Staff availability on and off-site depending on the nature of the services.
  • Logical and working advice grounded in local knowledge and backed by regional and Czech experience.
  • Low service charges and excellent quality of professional services.
  • Bespoken service plans depending on the needs of your company.
  • We believe in the quality of service and performance of excellent customer service to level up our reputation and satisfaction of the client.

What do we do?

  • Our firm provides a range of financial advisory services for hotels ranging from advice on some financial transactions to the preparation of financial statements.
  • Establish accuracy of financial data by reconciliation, performing a test of details, implementing segregation of duties, installing sound internal controls, and identification of gaps in the approval and execution of financial transactions.
  • Produce essential operational reports for decision-making and performance assessment and assist in other running aspects like opening a bank account.
  • Use our years of experience and extended knowledge to improve the strategic positioning of your company.
  • Ensure your taxation record is free from material misstatement and updated timely.
  • Provide help in carrying auditing tasks to internal and external auditors.
  • Our corporate secretarial service includes different services like sole trader registration and business registration, liquidation, change of the business address etc.

How to register a hotel as a sole trader and a company in the Czech Republic?

Register a hotelYou’ll need very basic information for registering the hotel business as a sole trader or a company in the Czech Republic. The documents needed for the registration include a certificate of no criminal record in the Czech language, an occupancy arrangement for the place you have rented, and intend to register as a business address and current visa or biometric card. After submission of all required documents, it should take around a week to get a business enlistment endorsement.

Here are examples of possible services and their pricing.

Service Price w/o our tariff, CZK Price for our tariff payers, CZK
Sole trader registration with 1 year free accounting service (Start tariff) 9500 CZK/380 EUR 9500 CZK/380 EUR
Company registration with 1 year free accounting service (Start tariff) 29500 CZK/1200 EUR 29500 CZK/1200 EUR
Legal address, 1 year 7200 CZK 6000 CZK
VAT registration From 6000 CZK From 5000 CZK

* Prices do not include possible VAT.

For incorporation of the hospitality company, some more details are required in addition to the above. For instance, authorized capital account, a form of organization, name of the company, name of Directors, certificate of no criminal record from directors, and formation of articles of association.

We’ll help you throughout the process from collection of documents to filing information and receipt of the affirmation, incorporation of the company at a very truly sensible cost. Make sure that you use our one hour free consultation during which our representatives will explain all the details and present you a clear plan and a quote.