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In hotel accounting, the city ledger is the collection of accounts belonging to non-registered guests. This is distinct from the transient ledger (or front-office ledger, or guest ledger), which is the collection of accounts receivable for guests who are currently registered.
Hotels operate 24 hours a day, as such they typically continue to provide front desk services around the clock. The night auditor carries out the duties of the front desk agent (such as check ins, check outs, room changes, dealing with emergency situations, reservation and customer complaint handling) as well as performing wake up calls and providing concierge services and other duties carried ...
Most hotel establishments consist of a general manager who serves as the head executive (often referred to as the "hotel manager"), department heads who oversee various departments within a hotel, middle managers, administrative staff, and line-level supervisors. The organizational chart and volume of job positions and hierarchy varies by hotel ...
GOPPAR is the abbreviation for gross operating profit per available room, a key performance indicator for the hotel industry. It gives greater insight in the actual performance of a hotel than the most commonly used RevPAR as it not only considers revenues generated, but also factors in operational costs related with such revenues. [1] [2]
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
The first digit might, for example, signify the type of account (asset, liability, etc.). In accounting software, using the account number may be a more rapid way to post to an account, and allows accounts to be presented in numeric order rather than alphabetic order.
Travel and subsistence expenses describe the cost of spending on business travel, meals, hotels, sundry items such as laundry (though usually only on long trips) and similar ad hoc expenditures. [1] These reimbursements often have tax and related implications, and vary depending on the country of the business.
A natural extension of hotel revenue management was to rental car firms, which experienced similar issues of discount availability and duration control. In 1994, revenue management saved National Car Rental from bankruptcy. Their revival from near collapse to making profits served as an indicator of revenue management's potential. [8]