Airport accounting departments are typically asked to do the impossible: with ongoing budgetary constraints on new information systems, they nonetheless face increasing demand for information from management.
The tools they have to work with?
Often, it’s the basic accounting packages not designed specifically for airport financials, like Simply Accounting, QuickBooks or similar packages. These solutions are based on generic technology that do not include critical dimension functionality (a term we’ll discuss later in this article). Existing aeronautical billing systems or other central airport information systems are rarely integrated with the accounting system. Furthermore, these accounting systems probably don’t have the capability to store and cross-reference non-financial data — such as the number of landings or number of passengers.
Accounting staff are burdened every day with these challenges, struggling to prepare meaningful financial statements and reports that can be used by management to streamline and operate their airport more effectively.
Financial Management Challenges
- Lack of integration with other systems
- Lack of analysis with a segment approach to the chart of accounts
- No dimensions
- Ability to store metrics
- Chart of accounts needs to be redesigned
Download the whitepaper to learn the steps to improve your airport financial management and what to look for in accounting system software for airports.DOWNLOAD PDF