![]() ![]() Following are the different types of folios that are used by hotels. The information about the value, time and date, and the place of financial transaction is communicated by the concerned section/department through a signed voucher/check). In some hotels, it is also called a guest weekly bill.Īll accounts receivable, payable, and paid-out transactions are entered in this document. This is also called a ‘guest accounts card’ and is prepared for every guest and room. Folios: A folio is a document that is initiated at the time of arrival of the guest normally and all guest transactions are recorded on it, which increases or decreases the balance of the account.Commonly used vouchers in hotels are cash vouchers, charge vouchers, transfer vouchers, allowance vouchers, check-out vouchers, credit card vouchers, paid-out vouchers, etc. When the guest signs the voucher / check for the number of goods/services consumed by him the voucher is sent to the front office bill clerk to be posted to the guest account card/guest folio. This is a support document for the financial transaction. When a guest consumes some services/facilities/goods of the hotel from any of its departments or sections, the concerned department prepares the voucher. ![]() A document to detail transactions at a point of sale and meant to transmit transactional information to the front office of guest charges which need posting. Vouchers: Vouchers are also called checks.Such transactions neither increase nor decrease the guest’s outstanding balance. For example, when a guest goes to a bar or restaurant and is served drinks or food and then presented a check for the same, he pays cash for that check. Cash Transaction: Cash Transaction means that the guest pays cash to the hotel.Such financial transactions will reduce the outstanding balance to be paid by the guest. Such transactions are not very common usually. Also, this type of transaction would include any allowances or discounts given by the hotel to guests and a transfer amount, etc. Accounts Payable: These are those transactions where the guest pays the hotel against his outstanding for example, he pays against his bill amount in part or full.Any ‘returned checks and chargebacks’ (maybe his previous skipper account) etc. are all examples of financial transaction where an amount is to be received by the hotel from the guest (guest has to pay) and these are called ‘accounts receivable for the hotel. Accounts Receivable: When a guest goes to the bar or restaurant (and consumes drinks or food) or avails laundry facilities, makes telephone calls, etc, and does not pay cash but signs a voucher (an undertaking that he agrees to the specified amount and shall pay later) and also the room charges, etc.Settlement of the accounts, which may be by cash or credit payment.įinancial transactions are generally of three types:.Ensuring internal control, checking and establishing the accuracy of the recorded transaction.Making necessary documents and recording a transaction on relevant documents.Financial transaction, creation, and maintenance of accurate accounting details.The process of guest accounting is based on the following concepts: This method is very efficient and convenient and is widely used today in almost all medium-sized and large hotels. Fully Automatic System: From the point of sale terminal (POS), the entry is made to the centralized computer server where the guest folio is updated and stored.Mechanical: Some medium or large-sized hotels have pneumatic tubes (pressure suction tubes) for sending signed vouchers of the guest from the department or outlet selling the service or commodity to the billing counter.Manual: In small hotels, a bellboy or a waiter, or a person from the department where a sale has taken place rushes to the billing counter for entry into the guest folio.Depending upon the type of hotel the communication methods can be: This is possible only when there is a very effective communication system between the billing section and the sales outlet. Speed and accuracy in preparing and maintaining a guest account are very important to avoid any late charges. ![]()
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