HOW THE JEFFERSON HOTEL REDUCED MONTH-END CLOSE TIME BY 10% WITH AUTOMATED JOURNAL ENTRIES IN M 3
Efficiency isn’t a luxury, it’s a necessity. Here’s how The Jefferson achieved success.
1 Property
181 Guest Rooms
318 Staff Members
Customer Overview
The Jefferson, a historic luxury property in Richmond, Virginia, has been a landmark since 1895. With 181 guest rooms, two restaurants, banquet facilities, and over 318 staff members, the hotel required a modern financial management solution to streamline accounting operations, particularly journal entries and month-end closing.
THE CHALLENGE
Slowing Month – End Close
Before implementing M3 Accounting Core™ The Jefferson faced several accounting inefficiencies:
Manual Journal Entries
Time-consuming and prone to errors.reconciliations were required.
Limited Reporting Capabilities
Multiple manual exports and reconciliations were required.
Time-Consuming Paper Processes
Journal entry backups were stored in filing cabinets, making audits cumbersome.
Lack of Integration
Payroll and inventory data required separate manual entries, leading to inefficiencies.
SWITCH TO M3
The Jefferson Hotel selected M3 Accounting Core™ over competitors, like Sage, due to its automation capabilities and hospitality-specific design:
Automated Journal Entries
Bulk uploads and automatedreversals replaced manual processes.
Hospitality-Specific Functionality
Unlike generic software, M3 was designed for hotel operations.
Seamless Integration
Payroll data and invoices were easily imported.
Real-Time Financial Access
Cloud-based system enabled remote financial management.
Designed for Properties of All Sizes
M3 catered to both large chains and single-property hotels like The Jefferson.
“Being able to upload journal entries and automate reversals has saved us hours each month. We’re no longer spending time on tedious, repetitive tasks.”
Jim Ritcher
Director of Finance
THE RESULTS:
Faster Month-End Close & Increased Efficiency. Since implementing M3 Accounting Core™, The Jefferson Hotel has seen significant improvements:
10% Reduction in Month- End Close Time: Automated journal entries streamlined financial closing.
Increased Accuracy: Fewer manual inputs reduced errors and improved financial reliability.
Eliminated Manual Entry for Reversals: Automated reversing entries saved hours monthly.
Paperless Workflow: Digital journal entry backups replaced manual filing.
Seamless Payroll & AP Integration: Eliminated duplicate data entry.
CONCLUSION
By adopting M3 Accounting Core™, The Jefferson Hotel has successfully automated journal entries, reduced month-end close time, and increased financial efficiency, setting the stage for continued success.
LOOKING AHEAD
The Jefferson Hotel plans to expand automation efforts, explore M3 Insight™ for budgeting, and continue improving efficiency in financial workflows.
Get Started
Automate your journal entries and shorten month-end close.
The Jefferson moved away from manual entries, paper backups, and disconnected systems to a workflow built for hotel accounting, including automated uploads and reversing entries.
Reduce manual journal entry work and errors
Go paperless with digital backups for audits
Connect payroll and AP to eliminate duplicate entry
