Chp 4 Occupany

Question 1

What is guest privacy?

Answer 1

“Never without guest permission”

Question 2

What is FOLIO?

Answer 2

Record of all financial transactions between the guest and the hotel.
Guest account or bill, INVOICE

Question 3

When can you make changes in FOLIO?

Answer 3

Only in draft stage

Question 4

Types of Folio entries

Answer 4

Debits
Credits

Question 5

What are Debits?

Answer 5

postings of charges, guest’s debts to the hotel for services used.

Question 6

What are Credits?

Answer 6

postings of payments

Question 7

What are Postings in FOLIO?

Answer 7

Accounting transactions recorded in the guest’s folio.

Question 8

Examples of postings in FOLIO

Answer 8

Account correction
Account allowance - Adjustment
Account transfer

Question 9

Guest Ledger

Answer 9

A set of guest accounts that corresponds to registered hotel guests and guests who have made advance deposits for upcoming hotel stays.

Question 10

City ledger or Non-Guest Ledger

Answer 10

A set of accounts for groups, non-guests, and unsettled guest accounts.
Ex - Microsoft

Question 11

House Limit

Answer 11

Internal credit restrictions established by the hotel

Question 12

High Balance Account

Answer 12

Account that is approaching the house limit.

Question 13

Credit limit

Answer 13

Run authorization of house limit on card (200$ per day av.)

Question 14

Cash Bank

Answer 14

an amount of cash assigned to a cashier to handle the various transactions that occur during the work shift

Question 15

Bank Limit

Answer 15

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.

Question 16

Net Cash Receipts

Answer 16

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

Question 17

Overage

Answer 17

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).

Question 18

Shortage

Answer 18

Occurs when the total of the contents of the drawer is less than the NCR (Net Cash Receipt).

Question 19

Due Back

Answer 19

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.