• Customer Payments – You have an option to update any number of payments to each booking until the full amount is paid by the customer
• Supplier Payments – You can record supplier payments for each booking along with amount payable and due date. This helps you to make the payment to your supplier on-time without any delay

For Example :
If you have a customer confirmed a booking with your company for Europe Holiday Package. Let’s say he is travelling to France, Germany, Switzerland and Italy
If you are working with different supplier in each country then You can update all the 4 different supplier along with their payment amount and due date in the booking
Travel CEO Software will remind you about the payment before the due date

• • Customer Payment Reminders – Travel CEO Software sends automated reminder email to customer before the balance due date
  • Payment Receivable Reports – You can generate a Payment receivable from your customers in a single click
  • Supplier Payment Reminders – Travel CEO Software sends automated reminder email to you and your team before the due date of your supplier payments for every booking
  • Payment Payable to Supplier Reports – This is an amazing feature at Travel CEO which helps you to generate upcoming payment reports payable to your suppliers in future
  • Report Variation -You can generate Payment Receivable & Payment Payable report for Today, Tomorrow, This Week, Next week, Next Month, Next 3 Months, Next 6 Months & Next 1 Year

5 Tips to choose best Travel Accounting Software in the Tourism industry

The tourism industry is dynamic industry-changing and adapting itself to the current changes at a breakneck pace. Adapting to the fast-changing industry is inevitable for the companies and agencies in the industry. 

Companies in the industry have to intervene in new-age technology to provide their customers with the best services. Accounting is a very tedious and essential task for any business. Coming to travel companies, it is necessary to prepare invoices, trip packages, tracking clients and supplier payments, and many more. 

Travel Accounting helps in boosting the company’s profits and reduces its expenses. Accounting software ensures that payments are received and paid on time and invoices are issued appropriately; apart from this, it also provides the company maintains brevity in their accounts. 

Accounting software helps the company be more financially aware as it tracks all the expenses and payments made and received; it also gives timely updates for overdue or unpaid payments.

So, while choosing software to take care of the company’s accounts software, they have to keep in mind the following tips.  

Tips for choosing the best Travel Accounting Software in Tourism Industry:

1.  Get paid faster: Getting paid quicker and never missing a payment is a must in a business
2.  Look professional: Customizing your invoices increases the company’s credibility among its customers and thereby impacts the business positively
3.  Time Saver: Invoice generation is essential for a business, and automating this function boosts the business
4.  Tracking expenses: Keeping track of a business’s expense will allow its owners to cut down on unnecessary costs, thereby decreasing their spending. 
5.  Profit & Loss tracking: A systematic accounting system helps the company arrange its resources accordingly to boost profits.

Reports
Get complete insights about your travel business with the help of reporting systems in Travel CEO. Following are few of the important reports.