FI 018 - Finance - Payment Control

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.