D1.HFO.CL2.04 Slide 1. Introduction Maintain guests’ financial records: Classroom schedule Trainer contact details Assessments Resources: Calculator,

MAINTAIN GUESTS’ FINANCIAL RECORDS

D1.HFO.CL2.04

Slide 1

Introduction

Maintain guests’ financial records:

Classroom schedule

Trainer contact details

Assessments

Resources:

• Calculator, pen and paper

Slide 2

Introduction

Ice breaker:

What is your name?

Where do you live?

Why are you doing this course?

Where do you work?

What do you like most about your workplace?

Slide 3

Cycle of service

Slide 4

Pre-arrival

Departure Arrival

Occupancy

Cycle of service

Goods and services provided:

• In small groups, list some examples of facilities that may be offered at accommodation venues

Financial transactions:

• Definition

• Source documents

• Responsibility

Slide 5

Guest accounting cycle

Slide 6

Pre-arrival

ArrivalAccount creation

OccupancyAccount

maintenance

DepartureAccount

settlement

Guest accounting cycle

Types of guest accounting systems:

• Features

• Revenue and expenses

Different accounts:

• Master accounts

• Extras accounts

• City ledger

• Cash folio

Slide 7

Guest accounting system

Accommodation services:

• Front office

• Back office

• Reservations

Transactions:

• Pre-arrival

• Arrival

• Occupancy

• Departure

Slide 8

Organizational chart

Slide 9

Senior Managers and Owners

Food and Beverage

Bar

Restaurant

Room service

Rooms

Front Office

Reservations Concierge

Housekeeping

Supervisors

Room and Laundry

attendants

Maintenance

Engineers

Tradesmen

Finance

Accountants

Clerical staff

Sales and Marketing

Sales Managers

Marketing assistants

Clerical staff

Transactions on the guest account

Deposits and advance payments:

• Definition

• Recording as revenue

• Pre-arrival

• Arrival

Slide 10


Limitations and restrictions:

• Responsibility

• Monetary

• Service

Activity

Describe to a partner what you understand both monetary and service limitations to mean. Refer to the Trainee Manual if required.

Share with the group as directed.

Slide 11


Problem accounts:

• Arrival

• Occupancy

• Departure

Corrections and adjustments

Activity

Slide 12


Room rates:

• Revenue

• What influences the room rate?

• Calculation

• Where are they found?

• The rack rate

Slide 13


Payment options:

• Cash and cash equivalent

• Vouchers

• Company charge

• Frequent guest points

Slide 14

15

Arrival Account creation

Departure

Account settleme

nt

Pre-arrival

Occupancy Account

maintenance

Establish guest financial record


The guest financial record or account:

When is it created?

• From previous information

• At check in

How is it created?

• Guest history

• Pre-arrival

• At check in

Slide 16


What does the guest account look like?

Personal details

Guest history

Payment details

Check-in and check-out dates

Special arrangements

Activity

Create a guest account template based on class discussions

Slide 17


Different types of guest accounts:

Master account

Extras account

Payment from guests on arrival:

• Advance payments

• Deposits

Slide 18


Different types of guest accounts:

Closed guest account

Open guest account:

• Pre-authorization limits

• Deposits

• Master or extras account

Slide 19


Status of guest accounts:

Notify revenue centres:

• What are revenue centres?

• Why?

• How?

• When?

Slide 20

Maintain guest accounts

Slide 21

Pre-arrival


OccupancyAccount

maintenance

DepartureAccount

settlement


Posting charges and payments to guest accounts:

Guest accounting system:

• Debit

• Credit

Responsibility:

• Revenue centres

• Front office

Slide 22


Posting charges to guest accounts:

Charges:

• Accommodation

• Revenue centres

• Other charges

Source documentation

Posted by front office or individual departments

Slide 23


Posting payments to guest accounts:

Payments:

• During occupancy

• Reasons


Responsibility

Procedures

Slide 24


Activity

Slide 25

Transaction Source document Process method Debit or credit


Limits on house accounts:

What is a limit?

Why do accommodation venues have limits:

• What are debtors?

• Debtor control

House limits:

• What are debtors?

• Debtor control

Slide 26


Limits on house accounts:

House limits:

• Company credit

• Credit card companies

• In-house guest limits

Floor limits:

• Credit card companies

Slide 27


Filing supporting documentation:

Represents revenue

Sort and distribute appropriately

System

Time frame

Organizational policies and procedures

Slide 28


Reconciling the guest account:

What is a reconciliation?

Why do you reconcile the guest account?

Who performs the reconciliation?

Source documentation:

• Department reports

• Front office reports

Slide 29


Slide 30

The reconciliation

Guest accounts Individual departments


What do you do if the totals do not agree?

Check calculations for computation errors

Ensure that all reports are included

If the guest account total is lower than the departments total:

• Charges or payments were not posted to the guest account or an incorrect amount was posted

If the guest account total is higher than the departments total:

• Charges or payments were not posted to the individual department or an incorrect amount was posted

Source documents Slide 31

Maintain guest accountsReconciliation adjustments:

Update missing charges or payments to guest accounts

Advise individual departments of changes to charges or payments

Final task after adjustments

Slide 32

Guest accounts Individual departments


Activity

Design a flowchart explaining the reconciliation process

Pass the flowchart to another student and perform the reconciliation provided using their flowchart. Did it work? Suggest any improvements

Slide 33


Refunds

What is a refund?

How is a refund calculated?

Who is responsible?

Who is paid?

Documentation to complete

Slide 34


Night audit functions:

What is the night audit?

What does the night auditor do?

How can you help?

Slide 35


Prepare account for payment:

Departure report:

• Room number

• Guest name

Missing charges and payments


Guest account balance

Slide 36

Finalize guest accounts

Slide 37


DepartureAccount

settlement

The guest accounting

cycle

Pre-arrival

OccupancyAccount

maintenance

Finalize guest accountsPrepare guest account for payment:

Finalizing charges and payments:

• Departure report

• Notification from revenue centres

• Posting charges and payments before check out

Presenting the account to the guest:

• Source documents included

• Manage queries

Slide 38


Explain charges as required:

Some of the queries guests may raise:

• Accommodation charges

• Charge for goods and services not used

• Incorrect charge for goods and services

Corrections and adjustments

Reprint guest account

Slide 39


Accept payment from guest:

Payment methods:

• Notes and coins

• Credit cards

• Cheques

• Vouchers

• Foreign currency

• Company/group charges

• No payment!

Slide 40

Finalize guest accountsProcess finalized guest account:

Record payment:

• Balance of guest account is zero

Related activities:

• Filing

• System reports

Slide 41


Late charges:

What are they and why do they occur?

Pre-authorization:

• Individual account

• Company account

No authorization

Slide 42


Activity

Role play:

• In pairs, re-enact the departure process using an example guest account provided in class

Slide 43

Documents

D1.HFO.CL2.04 Slide 1. Introduction Maintain guests’ financial records: Classroom schedule Trainer contact details Assessments Resources: Calculator,