Hotel Accounting

HOTEL REVENUE ACCOUNTING & CONTROL   Business Transaction: The mass meeting of goods, office or services for cash or a call in to pay   tax receipts sweetener ( flagrant receipts) - Expenses = Income   I-Revenue Centers: 1. Categories of revenue affections a)   Major revenue centers (i.e. fashions, viands & potable) b)   kid revenue centers: ·       Telephone ·       Gift shops ·       Newsstand ·       Valet ·       Laundry ·       Barbershop or lulu salon ·       Recreation centers   2. Revenue centers and financial reports © Issue supporting(a) schedules or departmental income statements for from each one revenue center. © damp food & beverage revenue center into two: nourishment schedule and swallow schedule © Might do more than than one account for Food and also for Beverage © If the sales volume and expense items are not significant, they might be pooled to a single financial reporting category called verso operated departments © The functions associated with some minor revenue centers may be hired to a Concessionaire, and hence appear on hotels schedule of study and other income   3. Fundamental revenue concepts © Sales and the matching principle!

© Upon deposit receipt, cash shall be debited, and un make revenue, deposits or reference balances shall be credited   Revenue accounts ·       Room sales ·       Room allowances (Contra revenue account) ·       Food sales ·       Food allowances (Contra revenue account) ·       Bevera ge sales ·       Beverage allowances! (Contra revenue account) ·       opposite income-- Food and Beverage department ·       Telephone sales ·       Telephone allowances (Contra revenue account) ·       early(a) accounts for income earned by the hotel (ex: interest income, dividend income, rental income, concessions income, commissions income, vending machines income (less the embody of intersection sold), salvage income, and foreign exchange income)   · Net revenue = gross revenue - allowances · Gross profit = net revenue - price of sales...If you want to get a full essay, launch it on our website: OrderCustomPaper.com

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