HM 311 Chapter Notes - Chapter 8: Cash Advance, Accounts Receivable, Internal Control
15 Oct 2018
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Account: a form on which financial data are accumulated and summarized. Account balance: increases and decreases in an account and the resulting monetary amount. Guest account: record of financial transactions that occur between a guest and the hotel. Non guest account: set up for local businesses and agencies (house and city) Posting: the process of recording transactions on a folio. Guest folio: accounts assigned to individual persons/ guestrooms. Master folio: accounts assigned to more than one individual or guestroom. Employee folio: accounts assigned to employees with charge privileges. Vouchers: details a transaction to be posted on a front office account. Pos (point of sale) system: terminals at point of purchase to communicate directly with a front office system. Accounts receivable ledger: folios represented in front office. Paid in advance (pia) guests: pa(cid:455) cash and can"t e(cid:454)tend charges. Floor limit: limit assigned to hotels by card companies (max limit)
