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    Monitor Financial Transactions

    Uploaded by

    Cherrielyn Lawas
    The document discusses the key roles and responsibilities of the night audit process in the hotel industry. It outlines the major functions of night audit which include verifying guest accounts, balancing all front office accounts, resolving room discrepancies, monitoring credit limits, and producing operational and managerial reports. The night audit requires attention to accounting details, procedural controls, and guest credit restrictions. Key steps involved in conducting night audit are completing postings, reconciling room status, balancing all departments, verifying room rates and no-show reservations, preparing daily reports, depositing cash, backing up the system, and distributing reports.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Monitor Financial Transactions

    Uploaded by

    Cherrielyn Lawas
    214 views27 pages
    The document discusses the key roles and responsibilities of the night audit process in the hotel industry. It outlines the major functions of night audit which include verifying guest accounts, balancing all front office accounts, resolving room discrepancies, monitoring credit limits, and producing operational and managerial reports. The night audit requires attention to accounting details, procedural controls, and guest credit restrictions. Key steps involved in conducting night audit are completing postings, reconciling room status, balancing all departments, verifying room rates and no-show reservations, preparing daily reports, depositing cash, backing up the system, and distributing reports.

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    The document discusses the key roles and responsibilities of the night audit process in the hotel industry. It outlines the major functions of night audit which include verifying guest accounts, balancing all front office accounts, resolving room discrepancies, monitoring credit limits, and producing operational and managerial reports. The night audit requires attention to accounting details, procedural controls, and guest credit restrictions. Key steps involved in conducting night audit are completing postings, reconciling room status, balancing all departments, verifying room rates and no-show reservations, preparing daily reports, depositing cash, backing up the system, and distributing reports.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    214 views27 pages

    Monitor Financial Transactions

    Uploaded by

    Cherrielyn Lawas
    The document discusses the key roles and responsibilities of the night audit process in the hotel industry. It outlines the major functions of night audit which include verifying guest accounts, balancing all front office accounts, resolving room discrepancies, monitoring credit limits, and producing operational and managerial reports. The night audit requires attention to accounting details, procedural controls, and guest credit restrictions. Key steps involved in conducting night audit are completing postings, reconciling room status, balancing all departments, verifying room rates and no-show reservations, preparing daily reports, depositing cash, backing up the system, and distributing reports.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 27

    Monitor

    Financial
    Transaction
    s
    Night audit
    process
    2
    The major functions of the night
    audit is to:
    a)Verify posted entries to guest and
    non-guest accounts
    b) Balance all front office accounts
    c) Resolve room status and rate
    discrepancies
    3
    The major functions of the night
    audit is to:

    d) Monitor guest credit limits


    e)Produce operational and
    managerial reports

    4
    Role of the night
    audit

    5
    Role of the night
    audit
    The night audit requires
    attention to accounting
    detail, procedural controls,
    and guest credit restrictions.
    6
    Role of the night
    audit
    In night auditing, end of the
    business day is a vital time
    for the auditor

    7
    Role of the night
    audit
    The night auditor shall always
    compare the data conveyed in
    different folios against points of
    sales outlets daily reports,
    housekeeping room status report.

    8
    Role of the night
    audit
    After comparing, the night
    auditor should come up with
    the guest, non guest, and
    departmental accounts.
    9
    Role of the night
    audit
    The night audit shall compare all credit limits of
    guests and non-guests accounts with credit card
    floor limits, hotel's house limit, guest's status
    and reputation. If high balance accounts (i.e.
    balances for which the guest or non-guest limits
    are very near to an established limit) are
    detected, the night auditor shall note and report
    this to management the following day.

    10
    Role of the night
    audit
    Under the manual, a daily
    transcript and a supplementary
    transcript are used to track
    daily transactions of guest and
    non-guest accounts respectively.
    11
    Night Audit focuses on 2
    areas
    1. Discovery and correction of
    front office accounting errors
    ensured through the cross-
    referencing process.

    12
    Night Audit focuses on 2
    areas
    2. Creation of accounting and managerial
    reports including audit balance, average
    rate, occupancy percentage, usage of
    package plans and other marketing
    programs, and the number of group rooms
    and complementary rooms occupied.

    13
    Role of a night auditor
     Tracks room revenues, occupancy percentages, and other
    standard hotel operating statistics.
     Prepares a daily summary of cash, check, credit card,
    debit card, gift certificate, and other activities that occurred
    at the front desk.
     Summarizes and reports the results of operations to
    front office management.

    14
    How to night
    audit?

    15
    The following steps in cond
    ucting night
    audit:

    1. Complete outstanding
    postings
    2. Reconcile the room status
    discripancies

    16
    The following steps in cond
    ucting night
    audit:

    3. Balance all departments

    17
    Departmental Balancing
    Sequence
    3.1 Sort the voucher according to their
    departments
    3.2 Consider each department’s voucher
    a.) Separate the correction voucher according to
    the departments they are to be applied.
    b.) Total the correction for each department
    18
    Departmental Balancing
    Sequence
    3.3 After verifying each of the correction with
    the departments affected, total the correction
    voucher on an adding machine. The
    corrections tape must coincide with the
    correction figures on the shift report.

    19
    Departmental Balancing
    Sequence
    3.4 Consider the voucher again
    3.5 The vouchers should agree with the
    correcting figure of the departments. If the
    tapes do not agree with either figure, check
    to find the error before proceeding

    20
    Departmental Balancing
    Sequence
    3.6 Print revised individual shift reports
    after the correction and adjustments have
    been made. In any operations made, all
    back up data should be packed for the
    accounting office.

    21
    The following steps in cond
    ucting night
    audit:

    4. Verify room rate


    5. Verify no-show reservation
    6. Post room rate and tax

    22
    The following steps in cond
    ucting night
    audit:

    7. Prepare reports

    23
    a r tm e n t D e t a i l an d
    a.) Final Dep
    Summary Report
    p o r t o f O p e r a ti o n
    b.) Daily Re
    c.) Hig h B al a n c e R ep o r t

    24
    The following steps in cond
    ucting night
    audit:

    8. Deposit Cash
    9. Backup the system
    10. Distribute report

    25
    Big

    26
    27

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