SOP Finance and Accounting – Guest Ledger Adjustments

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Procedure For Adjusting Guest Ledger

Purpose of Guest Ledger Adjustments :

To ensure that adequate controls are in place for overall transactions in the Guest Ledger. The General Manager working with the Front Office Manager has full responsibility for the total Guest Ledger.

In the world of finance and accounting, it is important to maintain accurate records of all financial transactions. One aspect of this process is the Guest Ledger, which tracks the financial activities of individual guests at hotels, resorts, and other hospitality establishments.

However, there may be instances where adjustments need to be made to the Guest Ledger. This is where the Standard Operating Procedure (SOP) for Guest Ledger Adjustments comes into play. The SOP provides guidelines for how to make necessary adjustments while ensuring the integrity and accuracy of the financial records.

Some common reasons for Guest Ledger adjustments include errors in billing, cancellations, or changes to reservations. It is important for accounting personnel to follow the SOP when making these adjustments to prevent any discrepancies or mistakes in the Guest Ledger.

Overall, the SOP for Guest Ledger Adjustments is a crucial component of finance and accounting in the hospitality industry, ensuring that financial records are accurate and reliable.

Guest Ledger Adjustments SOP Procedures:

  • All adjustments are to be posted the same day they are approved.
  •  All adjustments made are circulated daily to the Executive Committee for review and approval the following day.
  •  The Controller or General Manager General Manager will review the daily credit card batch reports and verify that any credit card credits are legitimate.
  •  The accounting staff may post adjustments and miscellaneous vouchers to the Guest Ledger. At the end of their shift, they will run a shift close to verify the accuracy of the transactions.
  •  All transactions to Guest Ledger will require a miscellaneous or adjustment voucher.
  •  This form must be completed and authorized per policy with the appropriate backup attached.
  •  Front Office and Accounting are to forward all items to the Night Audit Staff with their shift work.
  •  Night Audit will then forward all forms and documentation to Accounting via the Income.
  •  Journal packet; The Controller or the General Manager General Management must review all forms and documentation daily, including the shift closing of any Accounting Clerk.
  •  All City ledger transfers will be performed by the Accounting Department and the same must be done within SOP-stated time limits.

Training Summary Questions:

Q1. Who has full responsibility for the total Guest Ledger.?

Q2. Why all the adjustments made are circulated daily?

Q3. To where does the Night Audit forward all forms and documentation?

Q4. Which report is the most useful tool for disciplinary and corrective action?
SOP Number: Finance and Accounting SOP  – 27
Department: Accounts Receivable
Date Issued: 8-Aug-2021
Time to Train: 30 Minutes
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