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HIA vs QuickBooks

HIA and QuickBooks Online both offer cloud-based accounting software. In a showdown between HIA vs QuickBooks Online, Who is the Best Choice?

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The Rundown

QuickBooks can definitely serve its purpose. Many hoteliers start out in QuickBooks, but as their portfolio grows, the system gets increasingly inefficient and the hidden costs of extra labor and workarounds start to add up.
 
The main distinction between HIA and QuickBooks is that HIA provides customized software for hotels, restaurants, and hospitality businesses that can help hoteliers take their businesses to new heights, whereas QuickBooks is a less sophisticated software built for more general business use.

Feature Comparison

Features & Functionality
HIA
Quick Books
Hotel-Specific
Daily Reports
Document Management
Budgeting & Forecasting
Limited
Business Intelligence
Full Mobile Capabilities
Not for Hotels
Dashboards
Limited
Employee Expense Management
Limited
Real-Time Bank Balances
Dynamic Approval Process
Workflows
Automated PMS Integrations
Enhanced Reporting
USALI Hotel Accounting System
Hotel Analytics
STR Connectivity
Custom Daily Report per Hotel
Drill Down on Reports
Report Scheduler
Custom Cover Sheet
Labor Management
Security
Two Factor Authentication
Secure by User and Device
Change Passwords Yourself
Ease of Use
Fully Browser-based
Two-Way Excel Integration
Support team that speaks "Hotel"
Asset Management
Accounts Receivable
Contract Management
Fixed Assets
Implementation
Unlimited Users Included
Open API
Three Years of Detailed GL History

What do our Customers Say about HIA?

Paul Kloosterman, Director of Finance and Accounting

Merani Hotel Group

Top 5 Differentiators

Differentiator #1:

HIA is Designed for Hotels and Hotel Companies

HIA

HIA is designed for hotels and hotel businesses, including a full-spectrum of hospitality-specific functionality.

HIA comes out of the box with all the modules, reports, and hotel-specific analytics that hoteliers need to run their business. This includes having the right financial basis with the USALI hotel accounting system.

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QuickBooks

As a general accounting software for small businesses, QuickBooks is missing core functionality for hotels, without any of the helpful features, or the right financial basis. There are also no universal standards, such as USALI, for tracking hotel financial performance.

Differentiator #2:

HIA Offers Advanced Reporting and Streamlined Processes

HIA

HIA includes hotel-specific reports that allow hoteliers to view and benchmark both performance and expenses across the portfolio, for better insights and decision making. All HIA reports can include a column for either budget or forecast, which pulls data directly from the budgeting and forecasting module. 

HIA’s modern technology streamlines back-office processes, such as bank reconciliation. Bank Reconciliation is a very different process for hotels than for other businesses due to the high transaction volume that hotels experience. HIA’s hotel-specific bank reconciliation helps to keep the data tracked and reconciled with hotel operations in mind.

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QuickBooks

QuickBooks has limited reporting options, and without USALI, QuickBooks does not track financial information based on departments or operations, making it much more difficult to capture the right data for hospitality decision making.

Many processes in Quickbooks remain very manual, without hotel-specific workflows and automations. For instance, the QuickBooks bank reconciliation module is a general module not suited to the high transaction volume of hotels, causing extra work.

Differentiator #3:

HIA Helps Hoteliers Track Performance

HIA

HIA comes pre-built with the hotel-specific analytics that hoteliers need to run their portfolios such as Rooms Sold, Occupancy, ADR, RevPAR, Cost Per Occupied Room, etc. These metrics and KPIs are tracked in reports, real-time dashboards, and are accessible on-the-go in HIA’s top-rated mobile application. 

Another advanced tool that HIA offers is the two-way integration with Excel (Excel Connect powered by Velixo) which enables hoteliers to enjoy both the power of HIA and the flexibility of Excel at the same time. This makes it easy for your accounting team to work with live data from HIA in Excel, and then click to “write back” the data into HIA.

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QuickBooks

QuickBooks does not include any hotel-specific analytics making it much more difficult to track, compare, and gain insights into operational performance. There is no two-way integration with Excel available for flexible reporting.

Differentiator #4:

HIA Integrates with PMS and POS Systems

HIA

HIA offers a robust Daily Reporting module with automated PMS and POS imports to smoothly update data into the system.

Then, HIA has automations that perform a whole host of other tasks like automatically creating daily/monthly journal entries, feeding cash management, and feeding data into the dashboards.

HIA’s flexible daily report also provides multiple built-in review days so GMs can make sure the report balances without getting behind in reporting on other days.

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QuickBooks

Does not include PMS integrations or a designated Daily Report module. QuickBooks users have to manually enter PMS data into the system, typically taking 2+ hours/day for PMS entry for a 10 hotel group. 

Differentiator #5:

HIA is a Scalable Solution for Growing Portfolios

HIA

HIA is designed to manage a portfolio of hotels, including hotels with multiple entities within them, such as restaurants and retail outlets. HIA is also perfect for management companies, with great consolidated portfolio roll-up reports, intercompany transactions, and management company billing options.

HIA also has full back-office functionality that goes beyond accounting. Optional add-on modules include Business Intelligence, Project and Construction Management, Purchase Orders, Multi-Currency, and more.

If users have questions, HIA has a built-in Knowledge-Base and an acclaimed Customer Support Team that speaks “Hotel.” In all these ways and more, HIA is built to help your company scale as you grow.

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QuickBooks

QuickBooks modules are more limited, such as there is no Business Intelligence functionality to analyze your data and help hold the line on profit margins. Any Customer Support is general and not trained on hotels.

It can be difficult to scale your portfolio quickly on QuickBooks due to the lack of hotel-specific functionality and the extra time spent on manual data entry, such as PMS data.

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