travel agency accounting software

 accounting 

 is a key factor in any kind of business and information system designed to communicate correct information to internal as well as external users. Accounting involves recording, classifying, and analyzing accounting information geared toward determining the financial strength and weakness of a travel agency.

Through the management of a travel agency and with many daily transactions

it can be easy to lose track of your sales and incoming payments. Through the use of a special accounting program to manage travel agencies, you can track your company’s net cash flow from sales and expenses. And look at your profits and losses by having reports that show you net profits and losses when it comes to data collating,  online travel management software is the answer.

2-    Accounting Benefits for Travel Agency Management

·        record for cash receipt

Keeping a record of electronic invoices and receipts is very important for travel agencies during accounting. It is also important to record all revene received by the travel agency during the period of running the business. Transactions relating to cash, cards such as debit or credit, checks for flight packages, and commissions received by travel businesses from hotels, airlines, and other sources are recorded.

·       Accounts Receivable in Accounting

 is the term referred to the amount owned by the producer, sellers or suppliers for the purchase made by the travel agency for tourism services and travel products on credit. It is one of the important statements of accounting that must be recorded in the travel business

·       Keep a record of cash payments for accounting

Cost, in the cash disbursement journal all cash outflows of the travel business are recorded. It is important to keep track of all operating expenses of a travel agency to facilitate accounting. The officer in charge should record company employees’ salaries, rents, telephone expenses, financial and legal expenses, administrative cash flows, selling and distribution expenses, etc. in the cash disbursement section of the travel process.

3-    What is the master ledger?

It is the destination of entries in sub-journals used to balance travel agency business accounts.

Balancing means constant examination and verification of the accuracy of the travel agency’s accounting system. There are certain objectives of the travel ledger in the accounting of the travel agency as shown below.

·        Determine the sources of income of the travel agency

·        Determine the total cash sales and deferred sales

·        . The total commission received by the travel agency through various sources.

·        Performance evaluation of the travel agency