Travel agents work hard to find the very best deals for their clients, but what about your internal systems? You can streamline back-office admin and accounting work with one of 2022’s best travel agents accounting systems. From invoicing to report generation, here’s a closer look at how automated accounting systems for travel agents can make your business more efficient.
What is an accounting system for travel agents?
Travel agencies need systems that support all general business activities, such as tracking expenses and revenue. A good accounting system for travel agents will also be able to support multiple users and handle billing needs.
Travel agents work not only with their customers, but also with various hotels, tour groups, and travel partners. They’ll facilitate payments back and forth between these various parties as a third-party middleman. A good accounting system must track these invoices and expenses.
Another feature to look for is a client management system, containing all traveler documents and notes. You need to keep all these files in a single place as well as payment histories and special requests.
Benefits of using a travel agent accounting system
There’s a lot to juggle when running a travel agency, which is why a good accounting software system comes in handy. Rather than choosing general accounting software, here are a few reasons why you should look for a system catering specifically to travel agencies:
You can access detailed file histories for each customer, including travel documents and invoices.
You can automate the invoicing process with billing software for a travel agency.
You can streamline bank reconciliations and deposit management to minimize paperwork.
You can generate industry-specific reports including relevant taxes, agent commissions, and sales analysis.
Challenges of billing software for a travel agency
Chasing up on payments is one of the biggest challenges for any travel agency, which is a problem good invoicing software will help with. Late payments can impact your agency’s cash flow, making it difficult to pay your suppliers and partner tour organizations.
Another problem that a good accounting software will solve is tracking and managing expenses. Travel agents will incur both billable and non-billable expenses. With a good invoicing system, you’ll keep on top of those billable expenses for reimbursement.
It’s vital for travel agencies to produce clear policies for all customers, now more than ever. With automated systems, you can ensure that all policies are available at a click and conveniently displayed on each invoice.
Choosing the best billing software for a travel agency
There are plentiful options when it comes to travel agents accounting systems. Here are a few solutions to consider:
Rezdy is a cloud-based open platform designed for tour operators. It integrates with numerous websites including WordPress and Drupal, using PayPal to facilitate payments online.
TravelWorks offers a cloud-based online booking engine that lets agencies create customized packages for clients. Customers can search through hotel and flights with an array of filters. In addition to reservation management, it also handles billing, invoicing, and accounting.
TrekkSoft is set up for activity and tour booking. Users can manage their payments and online bookings through the cloud-based platform. Agencies can design their own branded websites, and there’s also a payment gateway set up for online and offline payment processing.
GoCardless also offers an ideal way to automate your billing process. You can issue travel agency invoices automatically, with reminders and follow-up. It’s also easy to take recurring payments for instalment travel plans, and partners with accounting software like Xero.
Travel management is a field that involves numerous moving parts. By combining specialist travel agency invoice software with booking apps and automated features, you can make your agency more efficient. This provides a better customer experience while freeing up your agents to add value to each itinerary.
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.