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    Taxes -- Accrual or Cash Based?

    Thanks both-- this confirms what I was thinking.
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    Taxes -- Accrual or Cash Based?

    Hi all, To my knowledge, all Trustee Taxes (hotel tax, room tax, sales tax, etc.) are all to be reported and paid based on cash-based accounting reports (i.e., one only pays trustee taxes that have actually been collected). Are there any jurisdictions which require otherwise? I ask this because...
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    Choosing the right Chart of Accounts...

    Thank you, everyone, for your replies. But, respectfully, when it comes to accounting--my entire point was that there should be a standard (best practices) way to set up the CoA and the reports. Perhaps I did not explain my question well, so allow me to elaborate a bit. Beyond my past...
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    Choosing the right Chart of Accounts...

    Is there a good sample Chart of Accounts that is generally used in the B&B industry? I have copies of: PAII recommended Chart of Accounts Uniform System of Accounts for the Lodging Industry (11th Edition) a spreadsheet from The B&B Team While I fully understand that there is lots of...
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    Expense or COGS

    Hi all, What is the most common practice when accounting for labor on one's P/L? As COGS or as Cost of Labor Expense? While it may seem obvious to many that Cost of Labor Expense would be the default, allow me to submit some examples: Since Housekeeping is directly proportional to Occupancy...
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    To Phone or Not to Phone...

    What is the current tendency or trend regarding the provision or absence of phones in B&B guest rooms?
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    Wasauna -- Chinese for "horrible product"

    Has anyone else come across the Wasauna spa showers in B&Bs? When they work, they're really great... But here we are, less than two months into owning our B&B and I've had failing mixing valves (guests got *only* hot water in the shower) and leaky solenoid water diverters (good thing I noticed...
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    Linen Service

    When we bought our B&B, we inherited a contract for linen servicing, since our B&B is sorely lacking in "back of house" space and thus has no room for on-site laundry. I'm not very fond of the linens we are provided currently, so I put things out for RFP from some other linen services. If...
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    Pros and Cons of Booking.com

    Given that we intended to dramatically increase our efforts to leverage OTAs as part of our marketing plan, we simply raised our rates an average of 20% year-round. Of course, we are also increasing our services and accouterments delivery as well--but the rise in rates offsets any "loss"...
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    Question with SEO

    Food for thought... according to a close examination of Google's indexing algorithm patent shows that an "ideal" web site has an average of *300* content-rich pages-- all of which fit within the theme pyramid of the overall site. Frankly, forget about keyword density as a "goal"... focus on...
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    The elusive closing is almost ours...

    WE DID IT! CLOSING IS DONE!! Yay! We head to Virginia Beach tomorrow to assume control of Beach Spa Bed & Breakfast! Woohoo!
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    The elusive closing is almost ours...

    I'm sure that many of those reading this have experienced this feeling too... the felling of anticipation, combined with the frustration that things do not happen more quickly... Here we are--on the cusp of closing on the B&B we've been working to purchase since late last year... Funny how so...
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    Is lobster vegan?

    Although I like to think of myself as a Obligate Carnivore, more specifically an Obligate Filet-Mignon-ivore, I am perfectly willing to be sensitive to guest needs--whether sincere or pretentious. So, since this thread started with "are lobsters suitable for vegans" (um, no, never, haha)...
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    Making peanut butter

    I bought my husband a peanut butter maker for Christmas (and even though it is obvious the gift benefits us both).... OMG, cashew butter is SOOOO good! We add a little salt and a little coconut oil.
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    B&B PMS Redux

    So, lots of chat over the years about PMS (property management software) systems suitable for the B&B and Country Inn markets. I'm currently shopping around and accepting demos from various systems. My automatic instinct would be to run to HotelDruid since I am a *huge* fan and supporter of...
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