Finance & Accounting

Objective  The Bin Card is a small index card that is affixed to the shelving reserved the storeroom items. The quantity put on or taken off the shelves is noted on the Bin Card. The Storekeeper/Manager can quickly verify available amount by comparing a physical inspection with the quantity indicated on the Bin Card. Incorporating a Bin Card system with physical and perpetual inventory procedure provide for a very tight inventory control system Procedure   The Storekeeper mus

Objective ： It is imperative that certain guideline be established to ensure that the people entertained are entirely in the interest or for the business of the Hotel. Procedure : Pre-Opening Stage    During the pre-opening stage, due to establishing rapport with various external parties, business entertainment is an essential. The pre-opening stage is broken up into 2 parts, i.e. prior to handling over of various operating outlets and after the handover, but not officially o

Objective : Whenever possible, payment of expenses, purchases etc. by cash are to be kept to the absolute minimum. All petty cash disbursements shall be restricted to RMB500.00 per transaction. Procedure : Petty Cash can only be used on ： Each petty cash reimbursement within IDR 500.000,- for hotel internal transaction; Emergency purchasing case and small item purchasing (the expense of those purchase must be less than IDR 500.000,-): Emergency case: there will be some case o

Objective : It is to uniform the payment request & claim sequences in order to meet with the hotel requirements and accounting purposes. Procedure : 1． Normally, different kind of payments will be identified as follows according to usual practices: Petty Cash Payment Each petty cash reimbursement within IDR 500.000,- for hotel internal transaction (Refer to the P&P of Petty Cash) Cash Payment   Each cash payment request exceed IDR 500.000,-  for hotel internal transaction (pa

Objective： Legal action can be considered after the Hotel has tried to collect a debt itself, and has also used the services of a debt collection agency and still failed to obtain payment on the account. Legal action cannot be undertaken without the written approval of the District Controller. The District Controller should liaise with the Legal Department of Golden Tulip before commencing any legal proceedings. Procedure ： After the Hotel is committed to legal action, all  d

Objective ： There is always a tendency that some of the credit given out by the Hotel will be uncollectible and turned bad, whether it be due to insolvency or otherwise.  Thus it is necessary in any accounting practice that a monthly provision is made for this type of case. There are times whereby a debt after having been written off will be recovered after some time.  The accounting treatment for this recovery needs to be addressed. Procedure ： Provision for Bad Debt   A mon

Objective ： The use of a major credit collection agency’s services can sometimes lead to the payment of accounts which a hotel has been unable to collect itself. Procedure ： Usually, a credit collection agency will send collection letters to customers, without obligation to give them the rights to collect the money. This service usually is provided at a low cost. However, before collection agencies are employed, the terms, conditions and charges should be established to ensur

Objective ： It is important that any returned or post-dated checks are being properly recorded and follow up action needs to take to recover the loss or possible loss. Procedure ： Returned Check  If a check has been returned by the Bank for one reason or another, the General Cashier must record it into a “returned check log book”. The Credit Manager and the Director of Finance & Business Support must be notified immediately, who will jointly acknowledge onto the log book. The

Objective ： The most important tool used to achieve solid credit control is a comprehensive credit policy, adapted to each hotel’s particular requirements, periodically updated and made known to all necessary personnel in the reservations, front desk, marketing, accounting, food and beverage and A/R section.  Detailed below is credit policy. The procedures outlined in the policy are to be regarded as part of Kalihara Hotels Group minimum control procedures. Objective ： The mo

Objective ： In order to minimize exposure to loss resulting from excessive balance on guest accounts, advance deposits will be requested for during check-in, room reservations, and banquet functions. Check-in Deposits received through cash payment, or Credit card authorization, but avoid use cheque as not sure the status in the bank.  Room Reservation Deposits received through cash, bank remittance, Credit card, or company cheque with current date, or Guarantee Letter after C

Objective ： Unidentified bank payments must be deposited immediately and a thorough investigation made to determine their proper disposition. These payments must not be held pending identification Procedure : Upon receipt of unidentified bank payments, the responsible staff will: Deposit the cheque immediately to the Hotel’s Depository Bank Account. Transfer the payment to City Ledger. For overpayments and payments which cannot immediately be applied to an account, set up a C

Objective ： Errors in account balances will occur; also foreign currency payments and credit card remittances will occasionally require adjustments, even when the balance invoiced is correct. Procedure ： The Director of Finance & Business Support must personally approve all adjustments to City Ledger account balances, before the completion of the adjustment in the A/R System. The adjustment voucher must contain: Guest name and folio number or credit card master and date Amoun

A/R Section   A/R Officer will submit to GL Section the outstanding travel agent commission for the month based on the travel agent commission report.  A/R Officer must keep track of any payment made during the month by stamping “PAID” against the travel agent in the travel agent commission report.              For those commission not captured in the system but paid to the travel agent during the month, the information must also be recorded in order to determine the accuracy

Objective ： To maximize banquet revenue by ensuring that all banquet functions are properly accounted for and charged accordingly. Procedure： All tentative and confirmed functions must be documented in a “Function Book”. Cancelled functions must be erased or noted to prevent the unnecessary denial of business. The Banquet Manager will maintain the “Function Book”. The purpose of the Function Book is to provide a permanent record of all functions. The following information mus

Objective： To ensure that Room rate and code inputted into the PMS (Opera) and Menu/Beverage prices in POS System (Micros) are approved rates/prices and verified correct. Call Accounting charges must also be configured with the agreed mark-up applicable to the local telephone company rates Procedure： Room Rate and Rate Code   All categories of room rates and rate codes must be documented, approved by the Director of Sales and General Manager before being loaded into the hotel

Objective： To ensure that proper room rates are being used and occupied rooms’ results in revenue for the hotel. Procedure： Procedure on authorized rates control   The General Manager will provide a written room rate structure to Sales Department and the Front Office, with a copy to the Director, Finance & Business Support. All categories of room rates and rate codes must be documented, approved by the Director of Sales & Marketing and General Manager before being loaded into

Objective   To ensure that room’s revenue is properly accounted for and rebates are given only for genuine reasons. Procedure： Posting Of Room Charge  Regardless the rate packaging, all inclusive elements such as service charge, tax, breakfast, welcome drink, etc. should be taken out in arriving the gross Room Charge. Then should the Room Charge be posted into the guest account. Apart from day use room(same check in and same days out, and when the Night Audit running ), all r

Kalihara Hotels Code of Ethics & Business Conduct Introduction At Kalihara Hotels we believe that strong ethics and good business should go together naturally. We are committed to operating our company with integrity and in accordance with the highest ethical standards. Our reputation is built upon the trust and confidence of all our stakeholders, and is an integral part of vision of our group. This Code of Ethics and Business Conduct (‘The Code’) sets out the principles and

OBJECTIVE To establish proper procedures to handle promotional goods (samples) provided by vendors for sales promotion or introduction of new product, and gifts received   POLICY 1. Samples that are provided by vendors for sales promotion or introduction of new products should be delivered to the purchasing department, and should not be directly delivered to storeroom staff, the Executive Chef or other departments.   2. Samples provided should be tested by appropriate departm

PURPOSE To establish proper procedures for accepting and recording merchandise provided free-of-charge.   POLICY 1. Merchandise provided free-of-charge by vendors for various reasons should be controlled by recording receipt and issuance.   2. Accepting merchandise free-of-charge should not be encouraged.   PROCEDURE 1. Free-of-charge merchandise should be received with delivery slips or invoices to record the receipts. Free-of-charge merchandise should not be stored in a sep