Financial procedures cover reconciliation of the day’s cash transactions, house reports and reservations from the previous day. The night auditor reconciles cashier reports from restaurant and retail outlets and transmits credit card transactions. Detailed reports are prepared, noting discrepancies and out-of-balance accounts. The night auditor acts as an internal auditor to ensure hotel staff correctly report revenue and financial transactions.
The financial process is critical for accounting and ensuring that every transaction is collected into records and accounted for before the next day of business. In some cases, the audit may reveal discrepancies that are reported and settled by management the following day.
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Answer:
Financial procedures cover reconciliation of the day’s cash transactions, house reports and reservations from the previous day. The night auditor reconciles cashier reports from restaurant and retail outlets and transmits credit card transactions. Detailed reports are prepared, noting discrepancies and out-of-balance accounts. The night auditor acts as an internal auditor to ensure hotel staff correctly report revenue and financial transactions.
The financial process is critical for accounting and ensuring that every transaction is collected into records and accounted for before the next day of business. In some cases, the audit may reveal discrepancies that are reported and settled by management the following day.
Explanation:
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