FI 002 - Finance - Accounts Receivable

Hotel Finance – Accounts Receivable – SOP

FI 002: Accounts Receivable


Objective:

To ensure that payment for credit extended by the Hotel is received promptly, and in full.

“…Requests for billing to a third party will normally be made at the time that the room reservation is made.  The reservations department should check with the Accounts Receivable accountant before confirming that it is OK for the account to be forwarded to the third party…”

Includes:

– BILLING
– POSTING TO ACCOUNTS RECEIVABLE
– INVOICING
– RECEIPT
– ACCOUNT RECEIVABLE REVIEW
– RETURNED CHEQUES


Details:

File Size: 32 KB
File Format: Word
Print Length: 08 pages
Publication Date: July 27, 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.