Hotel Finance – Payment Control – SOP

      FI 018: Payment Control


      Objective:

      To ensure that the Hotel only pays for goods and service which are bona-fide purchases.

      “…If the price shown on the invoice does not agree with the purchase order, the invoice and documentation should be referred to the purchasing department who should advise if the invoice price should be accepted…”

      Includes:

      – VOUCHING OF DOCUMENTATION
      – RECORDING OF DELIVERY NOTES AND INVOICES
      – VERIFICATION OF INVOICES
      – MONTH END PROCEDURES
      – PAYMENT PREPARATION AND PROCESSING
      – CONTROLS OVER PAYMENTS


      Details:

      File Size: 29 KB
      File Format: Word
      Print Length: 07 pages
      Publication Date: October 16, 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.