PS: Common ProfitSword Tasks - One Time Tasks When Adding New Hotels

• Site Setup:

  • [ ] Set-up Groups/Regions: Once the ProfitSword team sets up a group or region, use the Sites Extra screen to add or delete properties for users needing multi-property access.
  • [ ] Set-up Sites Lists: Use the Sites Lists screen to group properties together so you can easily filter reports for specific regions or lists.

• Forecast Admin Setup:

  • [ ] Activate Datasets in Forecast Admin: Go to Corporate Admin > Admin > Forecast Admin, drill into the Site List for the appropriate dataset, and check the Active, Editable, and Show Dataset in Report options.
  • [ ] Setting-Up Drivers in Customize Accounts: Define drivers (single GL lines or group subsets) and pair them with a ratio or metric so forecasted/budgeted amounts recalculate automatically.
  • [ ] Set up payroll accrual taxes: Coordinate with your account manager to either apply a generic payroll tax accrual percentage (Method #1) or set up specific PTEB G/L accounts with individual percentages (Method #2).

• Daily Income Journal Setup:

  • [ ] Inactivate Unused Departments/ Accounts in the Income Journal (IJ): Navigate to the Customize Accounts page and mark unused departments/ accounts as inactive so they are removed from pick lists and reports.
  • [ ] Assign Cash Types: Go to Accounting Admin > Tax/Cash Settings to assign cash types to all active Cash Depository Accounts (e.g., Operating Account, Beer & Liquor Account).
  • [ ] Set up Cashiers: Go to Accounting Admin > Cashiers to activate imported employees or manually add generic cashiers, and assign their type to control where they drop cash.
  • [ ] Assign Taxes to Accounts: In Accounting Admin > Tax/Cash Settings, check the applicable taxes for each revenue-generating GL line.
  • [ ] Assign Tax Rates: Enter all applicable tax rates (sales, city, county, bed, etc.) by hotel in Accounting Admin > Tax Rates.
  • [ ] Assign Credit Card Commissions Rates: Set up the commission rates to populate the Daily Commissions Report in Accounting Admin > Credit Card Commissions.

• Mappings:

  • [ ] IJ Mapping: Map the items that will flow into the income journal after the initial PMS/POS import, and mark any items not needed to balance as N/A.
  • [ ] Sales/OTB Mapping: Map Group/Transient OTB codes after the initial import, then update the data table by going to Forecast > Import OTB from PMS and selecting update.
  • [ ] Labor Mapping: Map new labor codes after the initial import (Accounting > Map Labor), then go to Accounting > Import Labor to update the system.
  • [ ] RMS Mapping: Map RMS codes after initial import Admin (Site Level) > RMS Mapping to update the system.

• ProfitPace:

  • [ ] ProfitPace Mapping: In the "Map Market Segments" screen within ProfitPace, assign Market Segments to the appropriate Sales Types (Group, Banquet, Catering, Contract, Transient, N/A).
  • [ ] Set Goals in ProfitPace: Enter sales goals for individual managers or teams in ProfitPace Admin > Input Goals and select the "Is Active" box for the applicable months.

• ProfitPlan:

  • [ ] Uploading Images to the Business Plan

• Acquiring an Entity that already uses ProfitSword:

  • [ ] Correspond with Selling Management Company: ProfitSword Support will coordinate the day of transition to turn off the PMS/POS integration within the Old Management Company and turn it on for the New Management Company. 

• Miscellaneous Tasks:

  • [ ] STR Uploads: Work with the Support Team to go over how to send in STR Reports