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Summary Slide

Summary Slide. Guest Accounting Guest Ledger City Ledger Sample Aging Statement Accounting Entries Diagram – Debits and Credits Accounting Documentation Guest Accounting and the Front Desk Exercise. Figure 9-1. Guest Accounting.

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Summary Slide

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  1. Summary Slide • Guest Accounting • Guest Ledger • City Ledger • Sample Aging Statement • Accounting Entries • Diagram–Debits and Credits • Accounting Documentation • Guest Accounting and the Front Desk • Exercise Figure 9-1

  2. Guest Accounting • Guest accounting is the term used to track debits and credits within the front office. • The guest ledger tracks accounting activity within the hotel before and during a guest or group stay. • The city ledger tracks revenues due to the hotel. Figure 9-2

  3. Guest Ledger • The guest ledger is made of accounts that “house” debits and credits. These accounts include: • House Account • Guest Account • Master Account • At what point does a guest ledger account become a guest history account? Figure 9-3

  4. City Ledger • The revenues tracked by the city ledger are called receivables. • These revenues are tracked and managed by the accounts receivable group of accounting department. • An aging statement is used to track the length of time a receivable has remained in the city ledger. Figure 9-4

  5. Figure 9-5 Sample Aging Statement Name Current 306090120 Joe Smith $240 AVD Co. $3000 123 Heat $6500 Jane Doe $250 Bill’s Hair $950 XYZ Inc. $600 Pets R Us $400 K’s Hut $9500 Totals: $10690 $3400 $600 $6500 $250 Ave Days Outstanding: 36 Days

  6. Accounting Entries • This menu uses a series of entries to track activity. These include: • Debit (Has a positive effect on a balance) • Credit (Has a negative effect on a balance) Beginning Balance + Charges - Credits = Ending Balance • Other entries include correction and transfer. Figure 9-6

  7. Debits and Credits This is how the accounting menu tallies debits and credits Figure 9-7

  8. Accounting Documentation • In order to conform to uniform system of accounts for the lodging industry (USALI), all accounting entries must be documented. • The charge and credit slips are used as documentation when the entry has a net effect on the overall guest ledger • These slips will explain the entry and be signed by appropriate supervisory personnel. They help form the audit trail. Figure 9-8

  9. Guest Accounting and the Front Desk • Front desk staff use individual banks to handle daily transactions. • These banks are audited by the general cashier. • An in-depth understanding of the guest account is crucial to properly managing the check-in and checkout process. Figure 9-9

  10. Accounting Internet Exercise • Visit this Web site: http://www.hotel-accounting.com • This site contains numerous links and other tools. Once at the site, visit the hospitality and resource links. • The resource links offer further links to accounting "calculators" that are interesting. • Use these calculators to create a front desk staff schedule or determine the impact tourism has on an area of the country. Figure 9-10

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