Percipient’s Jo Fuller discusses some key changes in the 12th edition of USALI and highlights
their importance in optimising performance in a modern hospitality environment.
I last blogged about USALI (Uniform System of Accounts for the Lodging Industry) in 2021, when we saw swathes of hospitality organisations embrace post-pandemic digitalisation.
Designed to allow hotels and hotel operators to analyse and report on activities based on pre-determined standards, it has become a mainstay of hospitality accounting. However, because adopting the standards requires significant resources, it can add to the already time-pressed finance teams’ workload.
In light of this, our fantastic team has made it easier for our hospitality customers to adopt the framework and optimise their financial management by incorporating the most relevant and used aspects of USALI within Sage Intacct.
USALI Turns 12
We’re now talking to customers and prospects about the 12th edition of USALI, what it means and how it can benefit the sector. Changes fall into three main categories as follows:
Loyalty Programs: With the rise in such schemes and specific offers and services tied directly to point earning and redemption, understanding the true costs of loyalty programs is paramount for accurate reporting. Tied to this is the corporate club lounge, which in a similar way, can present challenges in understanding how customers’ use of these impact costs. The new dedicated lines will help operators understand how much loyalty programs and executive lounges are really costing in order to help ascertain value.
Sustainability: Covering energy, water, waste and contract services, this schedule consolidates all expenses associated with these areas in a detailed way to help understand true costs, and therefore create metrics which support sustainability agendas. A game changer when it comes to comprehensive environmental reporting, it allows operators access to a greater number of sustainability levers from which to monitor, develop understanding and set meaningful goals.
All-Inclusive Models: As the industry has seen a continual rise in all-inclusive resorts and holidays, accounting must be performed in a way commensurate with the model. The latest edition allows such operators to manage financials and support performance in line with industry standards and expectations.
Joining the Conversation
The rise in loyalty schemes and how these are accounted for, is particularly interesting from an accounting perspective. These areas regularly come up in conversations, so we’re delighted to be able to bring this best practice into play.
And sustainability, despite its ranking as a major priority for CFOs, often falls short of the clarity, consistency and granularity necessary for evaluating improvements. Because the latest edition of USALI incorporates a broad range of metrics from across water, energy, waste and contractor management, it can help in the setting of meaningful goals and deliver against plans.
Supporting Best Practice
Not only does this latest edition of USALI reflect the modern hospitality industry in which we reside, but it also helps elevate the CFO’s role, underpinning more strategic planning and innovation in the wider business environment.
USALI is a huge value add for our customers, and as such, it’s a big priority in the way we design Sage Intacct projects. Leveraging our technical, accounting, and hospitality expertise, we are proud to lead the way when it comes to USALI as part of Sage Intacct and look forward to bringing the best practices contained in the 12th Edition to our customers as we move forward in a new era of hospitality.
Sage Intacct for Hospitality Experts
To find out how we can support best practice with your chart of accounts with Sage Intacct, contact us or call our hospitality finance experts on 01606 871332.
