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Best Accounting Software for Travel Agency

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Last editedMay 20223 min read

Travel agencies must juggle an array of tasks to provide the perfect package of services to customers. While a good portion of an agent’s day is spent reserving hotel rooms and arranging tours, there’s also all the usual business accounting tasks to complete. The best accounting software for a travel agency will cut down on admin time, so you can focus on providing excellent experiences for your customers. 

What are the benefits of accounting software for travel agencies?

Whether you choose general accounting software or a more specific industry-related app, there are several benefits. The best accounting software for a travel agency will:

  1. Save your business time – Store client data, create and send invoices automatically, and turn on payment reminders. Automatically imported expenses make it easier to track your finances, in less time.

  2. Minimize paperwork – With automation, the best accounting software will streamline bank reconciliation as well as deposit management.

  3. Provide better service – Create detailed profiles for each customer, storing all relevant invoices, travel documents, and preferences in a single place.

  4. Manage sales – Reward travel agents with commissions and incentives by setting up a detailed sales analysis and reporting system.

  5. Get paid faster – Invoicing software lets you accept payments online. Options like direct debit let travel agencies take recurring installment payments automatically without the need to chase up on anything.

What is the best accounting software for travel agencies?

As you can see, there are plentiful benefits associated with using good accounting software for tour operators and agencies. While there are numerous options on the market, here are a few of the best you’ll find today.

Xero

Although Xero is a more general accounting platform, it’s well-suited to the needs of a travel agency with automatic tax reporting and an international slant. Xero integrates with hundreds of third-party apps for easy customization. You can pair it with your choice of payments platform and booking engine for a smooth, streamlined reservations and payment process. Generate recurring invoices and send automatic payment reminders, while tracking gains and losses in over 160 currencies.

TravelWorks

A more travel-specific option isTravelWorks. Although it’s primarily known as an online reservations system, it also helps agencies tackle their accounting and finance tasks with ease. Features include advanced accounting management tools like real-time reporting, automated billing, and customer data management. Set up accounts payable and accounts receivable for easy tracking over time, all while putting together the perfect package deals for customers.

FreshBooks

FreshBooks offers user-friendly bookkeeping software that’s simple for travel agents to master. Create professional, branded invoices using templates, storing data securely in the cloud for easy retrieval on the go. Features include the ability to request sales commissions, retainer payments, and fees. Expense tracking features let you connect your agency’s bank account and business credit card for import. Multiple languages and currencies are supported to help you deal with international clients more effectively.

How to choose accounting software for tour operators

As you compare your options, be sure to take the following factors into account.

  • Features: Will the accounting software help you track invoices and expenses as you communicate with hotels and travel partners? Does it recognize revenue? Does it issue invoices and payment reminders?

  • Users: Can you support multiple users on the platform? Is there a customer portal to allow clients to manage their own reservations and payments?

  • Cost: Is there a monthly fee for the service? Are there any added charges to be aware of?

  • Ease of use: How easy is the software to use for beginners? Does it use complicated accounting jargon? Is training and customer support included as standard?

How to streamline payments in travel agency accounting

Most travel agencies take both one-off and recurring payments. For larger package tours, customers often prefer to pay off their deal in a series of installments which is where subscription billing software can come in handy. Reduce late payments to improve your agency’s cash flow as you connect with tour operators, hotel groups, and other partners.

GoCardless uses direct debit to pull recurring payments directly from customer bank accounts with full authorization. This automates the billing process for easier collection of your travel agency invoices, cutting down on costly delays. We also integrate with top accounting partners including Xero, for seamless payment and expense tracking online.

We can help

GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments.

Over 70,000 businesses use GoCardless to get paid on time. Learn more about how you can improve payment processing at your business today.

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Interested in automating the way you get paid? GoCardless can help
Interested in automating the way you get paid? GoCardless can help

Interested in automating the way you get paid? GoCardless can help

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