Financial Foundations: Mastering Budgeting and Cash Flow in Hospitality

Virtual GM - A Hotel Management Podcast

Vibrant Management द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Vibrant Management या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।

2M ago 18:45

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Podcast Description: Season 2, Episode 16 of the Virtual GM Podcast
In this episode of the Virtual GM Podcast, Cody and Meagan Adent from Vibrant Management dive into the critical topic of financial management in the hospitality industry. They share Vibrant’s proven financial process, including the creation of detailed budget sheets for all companies, the use of QuickBooks Online, and the importance of having everything in place for financial planning and success.

The episode emphasizes the significance of timely financial reporting, ensuring end-of-month finances are completed by the 10th of every month. This includes a reconciled budget sheet, Profit & Loss (P&L) statement for the previous month, year-to-date P&L, and the most current balance sheet. Cody and Meagan also offer practical tips on managing cash flow effectively to keep your hospitality business thriving.

Whether you’re a hotel owner, property manager, or involved in any aspect of the hospitality industry, this episode provides essential insights to help you maintain financial stability and achieve long-term success.

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