Hospitality properties close each day’s business with a ‘hotel night audit’. This ‘day end process’ covers the change-over from one business day to the next. The hotel night audit process starts with verification of all critical information which has happened across the day and proceeds for collation and grouping of that day’s transactions ending with generating crucial business reports and Management Information System (MIS) information of the concluding business day.
Why is a hotel night audit important for operations?
Night audit process is mandatory for a hotel operation, as it is part of the accounting section of the hotel. In a 24/7 business environment, guests check-in and check out at all hours and pay their bills either through cash, cards or other ways of settlements. At the end of the business day, hotels need to ensure that guest folios and their transactions are properly recorded and reconciled. The night audit process performs tasks of collating revenue against various revenue heads including collections and posting transactions.
In a nutshell, completion of night audit for a business accounting day will also have a check and balance in closing the accounting for that day and debarring any one from updating the information of previous day so that sales and collections are not altered. Read More
Published in: IDS Next Blog
By: Myra Allen