Chp 4 Occupany Flashcards
What is guest privacy?
“Never without guest permission”
What is FOLIO?
Record of all financial transactions between the guest and the hotel.
Guest account or bill, INVOICE
When can you make changes in FOLIO?
Only in draft stage
Types of Folio entries
Debits
Credits
What are Debits?
postings of charges, guest’s debts to the hotel for services used.
What are Credits?
postings of payments
What are Postings in FOLIO?
Accounting transactions recorded in the guest’s folio.
Examples of postings in FOLIO
Account correction
Account allowance - Adjustment
Account transfer
Guest Ledger
A set of guest accounts that corresponds to registered hotel guests and guests who have made advance deposits for upcoming hotel stays.
City ledger or Non-Guest Ledger
A set of accounts for groups, non-guests, and unsettled guest accounts.
Ex - Microsoft
House Limit
Internal credit restrictions established by the hotel
High Balance Account
Account that is approaching the house limit.
Credit limit
Run authorization of house limit on card (200$ per day av.)
Cash Bank
an amount of cash assigned to a cashier to handle the various transactions that occur during the work shift
Bank Limit
the starting amount the bank should have in it when it is issued at the beginning of their shift.
The FO agent must sign for it at the beginning of the shift.
Net Cash Receipts
The amount of cash, checks and other negotiable items in the cashier’s drawer MINUS the amount of the initial cash bank plus any Paid Out vouchers
Overage
Occurs when, after the initial bank amount is removed, the total of the cash, checks, cash vouchers and paid outs in the cash drawer is greater than the NCR (Net Cash Receipt).
Shortage
Occurs when the total of the contents of the drawer is less than the NCR (Net Cash Receipt).
Due Back
Overage and Shortage are determined by comparing the cash totals of the cashier’s postings against the actual cash, checks and negotiables in the cashier’s bank.
