Docyt Accounting Suite
Multi-Entity Consolidation: hotels in every country, one statement in your currency
Two hotels in the States, a resort in Mexico, a head office in Toronto, and one question every month: what did we earn, across all of it, in Canadian dollars? Docyt consolidates your entire portfolio across countries and currencies. Every hotel keeps its books in its own currency. The portfolio reports in yours, with every exchange rate, elimination and adjustment on record.
Two minutes: a hotel portfolio with properties in three countries closes the month and reports in one currency.
Three outcomes
Every hotel in its own currency.
The portfolio in yours.
One portfolio, several currencies, one statement
Set each hotel's currency once and the portfolio's reporting currency once. From then on every consolidated statement renders in your currency, with each hotel in its own column and the rate it was translated at under the heading.
- Each hotel keeps its books in its own currency
- The portfolio reports in the currency your board reads
- Each hotel in its own column, eliminations in theirs
- Translation adjustment on its own equity line
Exchange rates on record, not in a spreadsheet
Market rates arrive every night. Your controller approves the month once, the rates freeze, and translation into your reporting currency is done for you. Every rate the portfolio used, every override and every approval stays on record for your auditors.
- Market rates every night, approved once a month
- Frozen for the month once approved
- Every override carries a reason and a name
- Translation adjustment where your auditors expect it
Intercompany matched, eliminated, explained
Management fees, shared costs, loans between hotels in different currencies: Docyt matches both sides, eliminates them, and sends a difference caused only by exchange rates where it belongs. Nothing is counted twice. A real difference gets explained, not buried.
- Management fees, shared costs and loans between hotels
- Both sides matched and eliminated in full
- A difference caused only by rates goes to equity
- A real difference is explained before the month locks
Books kept elsewhere
It works even where Docyt does not keep the books.
A hotel whose accounting is done in another country, in another system, still takes its place in the consolidation every month, in its own currency. Its results sit beside the hotels Docyt keeps the books for, translated the same way, eliminated the same way, signed off in the same close.
- Books kept elsewhere, consolidated here
- Results arrive every month in the hotel's own currency
- Same rates, same eliminations, same sign-off
- One statement, every hotel
Why it is different
One close for the whole portfolio. Not a consolidation workbook.
Other systems consolidate by export: three sets of books, a rates tab, a workbook only one person can open. Docyt consolidates from the ledger it keeps for each hotel, reconciled every day and closed every month, so the consolidated statement is the books, not a copy of them. Before the controller signs off, four checks pass.
- Translated books balance for every hotel
- The consolidated balance sheet balances in your currency
- Retained earnings roll forward from the prior month
- Every intercompany pair is matched or explained
How it works
From every hotel's books to one statement.
Set the currencies once
Each hotel keeps its books in its own currency. The portfolio reports in the currency your board reads.
Approve the month's rates
Market rates arrive every night. Your controller approves closing and average rates once a month; overrides carry a reason.
Docyt translates and eliminates
Every hotel is translated into your currency, intercompany balances are matched and eliminated, open foreign-currency bills are revalued, and the adjustments post.
Four checks, then sign off
Translated books balance, the consolidated balance sheet balances, retained earnings roll forward, every intercompany pair is matched or explained. One statement, in your currency.
Day to day, in any currency
Vendors who bill in pesos or euros. Booked at the day's rate.
A vendor bills one of your hotels in another currency? Enter the bill as it was sent. Docyt books it in the hotel's own currency at that day's rate, keeps the original amount on the bill, revalues whatever is still open at month end, and posts the gain or loss when you pay.
One ledger, every entity
Consolidate it. Run it. File from it.
Hotel management companies
Management fees, shared costs and owner reporting across a portfolio of 5 to 500 properties, on one login.
See the management company solution →Tax Center
The same books become each entity's tax books, without a spreadsheet and without touching the numbers you run on.
See Tax Center →Frequently asked
Frequently asked questions
Which currencies does Docyt support?
Every hotel keeps its books in its own functional currency and the portfolio reports in the currency you choose, such as US or Canadian dollars. Docyt supports the currencies hotel portfolios in North America, Europe and Asia Pacific commonly use, including USD, CAD, MXN, EUR, GBP, AUD, NZD, CHF, INR, SGD, JPY and CNY.
Where do the exchange rates come from?
Market rates arrive in Docyt every night. Your controller approves the month's closing and average rates once, after which they are frozen, and any override carries a reason and a name. You can also load your own rates.
What if some of our hotels keep their books in another system?
They still consolidate. A hotel whose accounting is done in another country or another system takes its place in the consolidation every month, in its own currency, translated and eliminated the same way as the hotels Docyt keeps the books for.
How does Docyt handle intercompany balances in two currencies?
Management fees, shared costs and loans between hotels are matched on both sides and eliminated in full. A difference that exists only because the two sides used different exchange rates is posted to equity as a translation adjustment. Any other difference is explained before the month locks.
What happens when a vendor bills one of our hotels in another currency?
Enter the bill as it was sent. Docyt books it in the hotel's own currency at that day's rate, keeps the original amount on the bill, revalues whatever is still open at month end, and posts the gain or loss when you pay.
What does the consolidated statement look like?
One statement in your reporting currency, each hotel in its own column with the rate it was translated at, eliminations in their own column, and the cumulative translation adjustment on its own equity line. Every number ties back to a hotel, a rate and an entry.
See it on your portfolio
Bring your hotels. We'll close them in one currency.
Schedule a demo and bring your entity list, your currencies and last month's consolidation workbook. We'll show you the same month closing from one place, in the currency your board reads.
See Docyt live
See how Docyt Enterprise Suite automates payments, accounting, and business intelligence, on one ledger.
- Control spend
- Stop revenue leakage
- Zero-day close
- Forecast with confidence