Hotel Finance – Accounts Payable – SOP

      FI 001: Accounts Payable /


      Objective:

      To ensure that only valid and authorized payable are recorded and paid, that accounting procedures are implemented to ensure the accuracy of amounts, coding of General Ledger accounts and the appropriate timing of payments.

      “…Non-merchandise expenditures like utilities, rent, taxes, repairs, professional fees, etc. are          generally not recorded through the purchase order/receiving routine. However, there may be other documentation, like contracts and other agreements…”

      Includes:

      – DOCUMENTING ACCOUNTS PAYABLE
      – RECORDING MERCHANDISE/NON-MERCHANDISE PAYABLE
      – PAYMENT OF ACCOUNTS PAYABLE


      Details:

      File Size: 20 KB
      File Format: Word
      Print Length: 03 pages
      Publication Date: July 24, 2016
      Language: English
      Editable: Yes

      The finance (sometimes called accounting) department function is recording financial transactions, preparing and interpreting financial statements and providing management with timely report and operating results.