Travel Accounting Software

Travel accounting software is specially designed for travel agencies and tour operators & it’s Available a Complete ERP of Travel Agencies: Ticketing, Vouchers, Payment and Receipt Vouchers, Hotel Management & many more options to know.

Simple travel accounting software is important for tracking the success of your business. It allows users to store all the information that gives a clear picture of the business's financial health. The software can easily manage bookkeeping and enable monitoring costs and revenues to maximize profit margins.

Today, the travel industry is integrating their business with secured and customized travel accounting systems in order to easily handle the travel accounting issues. Travel agency accounting system automates the accounting processes of business that includes analysis of reports like balance sheet, account activity report, trial sheet, availability of multiple currencies and multilingual etc.
 

Many businesses from time to time start to ask themselves whether they are operating the right travel accounting software for their business, especially through a time of growth or change. The good news is that you are not stuck with the one travel accounting system for the whole life of your business.

Travel Accounting is a crucial part of any commercial business; therefore, every business requires an accountant or simple accounting software to manage their business effectively. Software development companies have started simple accounting software with GST ready features to help businesses in completing their tax businesses successfully. It completes most of the bookkeeping procedures of the business, generates reports, and manages GST calculations.

User Friendly: Software development companies develop software keeping in mind the common user, therefore, people with no accounting knowledge can maintain proper bookkeeping with user-friendly accounting software. It executes accounting tasks quickly that saves time and money. It also enables the efficient management of information and finance easily.

Generate Reports: Trawex Accounting software allows generating reports that show the complete financial status of the company. It provides go through trail reports and sends them in Excel format.

Improve Financial Performance: Trawex Accounting software gives insights into the overall financial performance of the business. It handles all the financial features of your company and keeps a record of business transactions. It manages general ledger, accounts receivable, and accounts payable. Moreover, it enables tracking cash flow, revenue, and expenses.

GST Ready Feature: It is very tough to calculate GST manually for businesses. Accounting software greatly assists businesses in performing accounting tasks. GST ready feature of simple accounting software gives accurate calculations of GST. It helps in the GST reunion and tracking with just a click. It updates a knowledge database on GST.

Accuracy and Speed: One of the significant benefits of travel accounting software is a higher degree of accuracy and speed. It provides real-time data that assist in streamlining business transactions.

Make sure the software you choose suits your business needs and size. It enables you to keep track of your business performance. Good accounting software upgrades cash flow. Lots of companies are offering software solutions all over the world.

It is important to choose a reliable company. You can get recommendations from friends or relatives that are utilizing software solutions and have positive remarks about its quality and features. We provide software solutions for small-sized businesses. If you want to receive quality software solutions for your business, contact us today.
Many businesses from time to time start to ask themselves whether they are operating the right travel accounting software for their business, especially through a time of growth or change. The good news is that you are not stuck with the one travel accounting system for the whole life of your business.

With almost 75% of bookings done online and a dynamic & ever-evolving travel market, it has become really important to have a robust, simple & mature back-office solution that makes day-to-day operations coherent. Needless to say, accounting and financial processes form the backbone of any organization, and a comprehensive accounting software package is vital to accelerate, improve, and efficient accounting-related tasks of the organization.

Trawex Accounting back office solution (IATA Agents, Non-IATA Agents, and GSA Agents & Tour Operators) is widely used and is a vital tool that enables travel agents to carry out back-office operations like accounting, billing, payable, accommodate & settling, receivables tracking & processing, and expenses & recovery monitoring.

The robust core engine provides you with security & role-based access rights and allows you to establish business rules like customers, vendor, taxes, and incentives related policies.

Major Modules of Travel Accounting Software by Trawex: 

• Air Ticketing Module

• Flight Inventory Module

• Rail Ticketing Module

• Hotel Booking Module

• Car Rentals Module

• DOM. Money Transfer Module

• Tour & Tour Booking Module

• Multi-Currency Module

Trawex is a complete travel agency software for managing your tour and travel business efficiently and in a user-friendly manner with its CRM, Auto Accounting, B2B, etc. features. Custom-made with utmost coherence, this software proves to be an end-to-end solution for all tour operators' entire business-related needs.

The main purposes of travel accounting are:

Recording Transactions: The main role of accounting is to maintain a systematic, accurate, and complete record of all financial transactions of a business. These records are the backbone of the accounting system. Business owners should be able to recover and review the transactions whenever required.

Budgeting and Planning: Business owners need to plan how they allow their limited resources including labor, machinery, equipment, and cash towards accomplishing the objectives of the business. An important component of business management, budgeting, and planning enable businesses to plan ahead by anticipating their needs and resources. This helps in the coordination of different segments of an organization.

Decision Making: Our Travel Accounting assists in a range of decision-making processes and helps owners in developing policies to increase the efficiency of business processes. Some examples of decisions based on accounting data include the price to be charged for products and services, the resources needed to make these products and services, and financing and business opportunities.

Business Performance: Using accounting reports, business owners can determine how well a business is performing. The financial reports are a valid source of measuring the key performance indicators, so business owners can compare themselves against their past performance as well as against the competitors.

Financial Position: The financial statements generated at the end of the accounting cycle return the financial condition of a business at that time. It shows how much capital has been invested, how much funds the business has used, the profit and loss, and the number of help and liabilities of a business.

Liquidity: A common reason for small business failure is the mismanagement of cash. Our Accounting assists in determining the liquidity of a business which refers to the cash and other liquid resources at your disposal to pay off financial commitments. The information reduces the risk of bankruptcy through the detection of bottlenecks.

Financing: Our Travel Accounting helps business owners prepare historic financial records as well as financial projections which can be used while applying for a loan or securing investment for the business.

Control: By placing various checks across the organization, our accounting assists in avoiding losses caused by theft, fraud, errors, damage, obsolescence, and mismanagement. The internal controls safeguard business assets and avoid long-term losses.

Legal Requirements: Law needs businesses to maintain an accurate financial record of their transactions and share the reports with the shareholders, tax authorities, and regulators. The financial statements and data are also required for indirect and direct tax filing purposes.
 

Generic accounting software is unable to automate the travel agency’s accounting processes: accounting for travel agencies is a specific job!

When analyzing the best IT solutions, we clearly noticed that the generic accounting software sold in retail stores were inappropriate and meant dealing with accounting gymnastics in order to obtain all the required accounting data related to a travel agency. A full-time job for the internal staff of a small travel agency! Generic accounting software is unfit to automate the travel agency’s accounting processes as it has not been designed to take into account all the specificities of the travel industry.

An accounting software tailored to the travel industry must have these 5 benefits:

#1.  Being Able to Access Complete File History with all the Accounting Implications

• Good accounting software for travel agencies has to join all the parameters set as a rule.

• In the invoicing step, mainly assumed by travel agents, a reliable travel software with integrated processes will enable you to save 6 accounting entries which would have had to be done manually when using generic accounting software.

#2.  To Automate your Invoicing Process

• A reliable accounting software tailored to the software industry has to be fully interfaced with a GDS like Sabre or Amadeus or booking engines. Bookings made in one of these booking tools activate the automatic generation of the invoice in the accounting software and this, without any manual intervention or double data entry with all the related risks of error.

• Having no mistakes on invoices is the initial guarantee for accurate and reliable accounting.

#3.  Automatically Issue Checks in a batch

• The procedure of issuing checks is often time-consuming in a travel agency’s administration. Robust accounting software has to enable automated check printing with the accurate data exported from the invoice while including this in the batch for several suppliers at the same time.

• Otherwise, manual operations will make you re-enter data on each check while taking the chance of accepting some of the ledger entries.

#4.  To Facilitate Bank Reconciliations

• Well-proven accounting software for travel agencies will ease the preparation and the deposit management directly within the system. It can automatically create a deposit slip you can use with your bank institution. It is no longer required to fill out paper slips in parallel.

• All of this will allow you to facilitate bank reconciliations with the accounting being automatically updated when transactions are made.

#5.  To Generate Specific Reports Tailored to the Travel Industry

Accounting software for the travel industry must generate advanced reports that are useful and specific to the travel industry. Minimally, to make sure you can easily generate in real-time:

• Sales analysis by travel agents, by product

• Reports related to the Consumer Protection Funds (if applicable by legislation)

• Tax reports

• Trust account reports

• Commissions to be paid to travel agents

Trawex allows improving the processes of interaction with customers of a travel agency, which leads to an increase in the level of loyalty to increase sales. Trawex is designed primarily for companies that are not willing to pay big money for the commercial industry solutions and want to have an inexpensive and flexible solution that can be changed to the business processes of the company.

Payments Receivables

• Track and manage all your Receivables.

• Set due-dates and send out automated payment reminders to your customers.

• Categorize your Receivables using various filters like Date, Month, and Payment Status.

Expense Management

• Track all your Other Business Expenses

• Categorize Expenses into relevant Categories

• Illustrative Pie-Chart depicting all your Expenses

• Complete Expense date, month, and Quarter-wise.

Profit Management

• Track total Income and Expense for each trip.

• Bookings wise Profit report

• Track Employee Wise Profits.

Payable vs Receivable

• Get a snapshot of Receivables Vs Payments comparison

• Get reports week wise, month-wise, or quarter wise using Date filters

• Illustrative Bar Graph to instantly highlight your Cash Flow for a particular date range.

Being a leading travel portal development company, we provide complete online technology solutions to medium-sized and small-sized travel agencies that best match with the individual business specifications. 

• The backend operations consume time, and sometimes it may take more time, this is an unavoidable circumstance that every travel agent and companies have to face. Having a tour and travel accounting software can assist in saving a lot of time, and at the same time, you can concentrate on your key work. Moreover, the best accounting software has been designed and developed in a manner that it completely takes on the accounting work of the travel agents.

• The need for instant invoice generation and payment receipt along with proper tax calculation and sending it across to the client in a proper format can be a daunting task if done manually. However, if you use online invoicing and billing software for travel agencies can take up this task and do it efficiently. All you need to do is feed the data and the rest is taken care of by the tour and travel accounting software.

• Accounting and taxation are an integral part of the business which must be done right, and we do have much software on the market that can efficiently do this work. However, this software is not customized to work as per the travel industry, and thus, there is a need for tour and travel accounting software for travel agencies. This software is developed based on the requirement of travel agents.

• Trawex is one of the best accounting software available in the market. It has been developed especially for the travel agents, and it has many features that make it the best help for the travel agents.

Trawex is a popular cloud-based accounting service designed specifically for small business owners.

Designed for small and mid-sized businesses (SMBs), it's probably a bit much for freelancers or sole traders, but if you need something a bit more useful than a cash book Trawex can handle purchase orders, multiple companies, and multiple users.

Trawex provides an online travel agency management software with an accounting system for the automation of customer relationships for travel agencies. Manage reservations, create invoices, track payments with accounting software for travel agents providing airline ticketing, hotel reservation services, etc. 

Monitoring travel agents' commissions can become complex. Different commission rates depend on the products, payments due to the client's partial payments, commissions shared between multiple agents on certain sales, etc.

• User-friendly interface

• Plenty of depth and features

• Integrates with many popular services

• Real-time access to accounting information

• Web-based with offline & online back-office operations

• API integration available to connect with booking engine

• Supports booking systems like Flights, Hotels, Car Rentals, Transfers, Cruise, Bus, Packages- both Static & Dynamic

• ARC/BSP, PLB, taxes & currencies are built-in from the ground up & not patched in

• Full-featured Accounts Receivable (AR) & Accounts Payable (AP) allowing partial payment transactions

• All reports can be saved, printed, or emailed in PDF & Excel format

• Provision for individual billing for different products

• Multi Organization

• All reports can be processed for single or multiple companies

• Provision to make your own series for Invoices, Credit Notes, and Receipts

• Audit Log for all Transactional and Modification activities

• Auto Fare/ Tariff & Auto Charge calculation at the time of invoice creation

• Auto-update of Purchase Date while creating Invoice and Credit Note

• Interactive dashboard to manage all accounting activities

• Collection of over 50 pre-configured reports

• Provision for Group Billing