Finance & Accounting

Objective:   This policy is to ensure the compliance with the terms of Management Agreement to which the Hotel has to strictly adhere to.  This is especially important in the case of establishing, adding of FF&E, disposal and relocation of assets. All department heads must be made aware that the hotel management is the trustee of these assets which belong to the Owners and therefore has an obligation to ensure to safeguard their assets at all time. Procedure: Obtain from owne

Objective: Employee payroll is the single largest controllable expense in the hotel industry and therefore requires strict adherence to procedures. Procedure: In addition to regulations concerning the key principles of segregation of duties, the following instructions must be followed: No one involved in personnel record processing or payroll preparation or calculation shall sign personnel authorizations. Where at all practical, no one involved in preparing or calculating pay

Objective  Hotels should establish a formal processing system for terminated employees, to ensure that all issues affecting the Company and the employee are discussed and resolved. Procedure   1. The Personnel Manager will assume responsibility for processing terminated employees, and will distribute all final payments to terminated employees. 2. The Personnel Manager must develop a checklist which addresses issues to be covered before the employee leaves the property. The Pe

Objective : Unclaimed wages represent a liability to the Hotel, and shall not be indiscriminately credited to income or the payroll account. In the absence of conflicting local regulations, unclaimed wages will be held for a period of six (6) months. Then, if still unclaimed, unclaimed wages will be debited and the applicable salaries and wages account credited for the same amount. Procedure : Paying by Bank Transfer    Unclaimed wages occur when the employee’s bank account h

Objective  Salary advances are to be discouraged. They are not to be confused with employee loans.  Advances are only permitted in exceptional situations. The General Manager will be required to rule as to whether the situation is exceptional. Examples of exceptional situations are: proven hardship, family bereavement, family illness etc. Procedure  The term “payroll advance” means the payment of wages already earned by the employee and being paid before the regularly schedul

Objective : The purpose of this procedure is to ensure that: All the keys of un-used Safe Deposit Box are properly controlled and kept in the Safe Deposit Room; Safe Deposit Box master key is properly safe guarded;  Proper guideline in the authorization to drill the Safe Deposit Box when reported loss of the key by the Guest. Procedure : Procedure on un-used key control Every day, the shift Duty Supervisor is responsible to prepare a Safe Deposit key check-list, which contain

Objective : All cash proceeds of the day from any point of sales are imperative to be secured and kept in the Drop Safe at the end of the shift without exception. Any cashiering personnel who violate this policy & procedure will be disciplinary dealt with. The following procedures are to ensure and eliminate the risk during the process. Procedure : At the end of the shift, the cashier personnel should seal his/her cash proceeds in a pre-printed Cashier’s Remittance Envelope a

Objective : To ensure that cashier’s due backs are properly carried out. Procedure : 1.  The Cashier will enter the date and amount on both the Cashier’s copy and the File copy of the Due-Back Receipt (Attachment 1). 2.  The Cashier will then sign only the Cashier’s copy, which will be included with his / her cash to bring the total to the approved house fund. 3.  The File copy, together with the other currency must be deposited in the hotel “Drop” safe at the end of the shif

Objective : The purpose of this policy is to ensure that cash paid out is properly documented to prevent any misappropriation as well as to protect the interest of the cash handling personnel. Procedure : “Cash Paid Out” Vouchers are intended to be only chargeable to guest folio and the following information must be duly recorded therein, without exception:        The guest name Room number  Date Description of the charge The amount of paid out  Name and signature of the cash

Objective : The objective of this policy is to minimize the hotel’s exposure of experiencing bounced cheque due to staff’s carelessness. Procedure : Filing up a Blank Cheque received 1. The cheque must be written using a black signature pen. 2. The payee must be completed using hotel bank account name, or entity company name. 3. Cheque CANNOT be amended. Cheque completion upon guest settlement 1. The amount in words must be completed with the word “only ”. 2. The amount in fi

Objective: The Director of Finance & Business Support is responsible for reconciling all bank accounts monthly . The reconciliation(s) must specifically account for all differences between the bank-prepared account statement and the Hotel’s accounting records. In addition to ensuring the accuracy of bank and Hotel accounting records, the reconciliation serves as an internal control/audit review of backing transactions. Procedure : 1.  Personnel Assignment   The Accounting Dep

Objective : Bank accounts should be established as necessary and practical to hotel operations as required by the terms of the management contract. All bank accounts must be opened in the name of Hotel’s Name. Procedure : 1. Usage of Bank Accounts   All Gross Revenue shall be deposited in the Bank Account. All items paid by virtue of Manager’s operation of the Hotel shall be paid from the Bank Account as defined in the management contract including: Operating Costs  Operating

Procedure : In addition to the year-end closing exercise:  The Director of Finance & Business Support will count all house floats at least once a month on a surprised basis. A person designated by the Director of Finance & Business Support, will count the general cashier’s float monthly on a surprise basis. Attention will be paid to all petty cash vouchers should be current, approved and adequately supported. All other floats will be counted monthly on a random surprise basi

Objective : House floats are given out to cashiers must be properly and accurately recorded so as to reflect the actual amount held by individual cashier and their acknowledgement as the custodian of the respective float. Procedure : All cashiers will be given an amount as their operating float, and has to acknowledge it by signing an indemnity Receipt for House Funds (Attachment 1) form. At the end of each respective shift, the float will be dropped into the drop safe or be

Objective : This procedure is intended primarily to provide a ready reference for means of precaution of the frequent losses of cashiering personnel’s funds due to acts of carelessness on the part of persons handling cash (Guest Service Agents, F&B Cashiers, etc.) and the inadequacy of protective measures taken by the hotel. Procedure : All employees assigned to cashiering personnel position must be fully instructed of the procedures in the discharge of their duties and respo

Objective ： To perform market survey and compare perishable product prices in local markets and search for alternative and comparable products. To ensure that perishable products supplied are within current market prices and evaluate possible replacement of high cost products by lower cost products without sacrificing quality and guest satisfaction. Any unavailable perishable products will be feedback to the requesting department in order to avoid undue delay in processing of

Objective： The receiving guidelines define the responsibilities of the staff concerned in ensuring that the delivery / receipts of Furniture, Fixtures & Equipment is in accordance with the terms of the purchase both in quality & quantity and those they are properly recorded and stored. Procedure ： The Purchasing Manager should co-ordinate on timely basis with the suppliers for the delivery schedules and shipments. Prior to the delivery, a detailed delivery note and packing li

Objective ： The receiving guidelines define the responsibilities of the staff concerned in ensuring that the delivery / receipts of goods and services required by the hotel is in accordance with the purchase request or market list in terms on quality, quantity, price etc. Procedure ： 1. The receiving function includes the following: Food & Beverage  Tobacco and Cigarettes  Printing & Stationeries  Office Supplies  Sundries  Housekeeping Supplies Engineering Supplies Furniture

Objective ： Emergency requisitions are discouraged, as Department Head are required to plan their inventory needs on a regular basis. However, in view of not jeopardizing the hotel’s operations, emergency requisitions are accepted but to be minimized at all cost. Procedure ： Emergency requisitions during store operation hours The store requisitions form must be completed and duly signed by the requestor and Department Head (or in his/her absence, his/her designated representa

Objective ： Ensure that inventory items are issued only for authorized purposes. Provide documented input to the accounting records to reduce inventory and charge to department costs. Procedure ： The Storeroom Requisition Operating Guidelines contain the responsibility of all departments/staff concerned in processing the stores requisition until the supplies are issued. All storeroom requisitions/issues must be supported by a duly completed, authorized and approved requisitio