Hotel Accounting

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

© Upon deposit receipt, cash shall be debited, and un realise revenue, deposits or allude balances shall be credited   Revenue accounts ·       Room sales ·       Room allowances (Contra revenue account) ·       Food sales ·       Food allowances (Contra revenue account) ·       Beverage sal es ·       Beverage allowances (Cont! ra 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 switch sold), salvage income, and foreign exchange income)   · Net revenue = gross revenue - allowances · Gross profit = net revenue - make up of sales...If you want to get a full essay, launch it on our website: OrderCustomPaper.com

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