CREDIT CONTROL DURING STAY OF A GUEST:
A credit limit is set for the guest depending on his credit profile and then in turn must be marked on his folios. The front office must monitor guest and non-guest accounts to ensure they remain within acceptable credit limits. Typically, a line of credit is set for guests who establish charge privileges during the reservations or registration process. Guests who present an acceptable credit card at registration may be extended a line of credit equal to the floor limit {credit limit set by the issuing credit card company}. Guest and non-guest accounts with other approved credit arrangements are subject to limitations established by the front office. These internal credit restrictions are called house limits.
Front office management may need to be notified when a front office account approaches the house limit. Such accounts are called high risk or high balance accounts. The front office auditor, or night auditor, is primarily responsible for identifying accounts which have reached or exceeded predetermined credit limits. Front office management may request the guest to make a partial payment to reduce the outstanding account balance.
CREDIT CONTROL AFTER DEPARTURE OF GUEST:
Hotels must ensure that the guests who are given credit facility from the hotel are able to pay their bill in full within the scheduled period of time and only then the hotel should fix a house limit. Usually the hotel’s credit policy allows credit to:
- Guaranteed payment reservation guests
- Company guarantee payment guests
- Credit card guarantee guests
- Deposit/advance payment reservation guests
PROBLEMS IN CREDIT CONTROL MAY ARISE IF:
- Guest is not explained clearly as to which credit cards/foreign currencies are accepted by the hotel.
- The guest is not informed that if his bill exceeds the house limit he will have to pay the balance in cash
- Communication gap between accounts department and cashier or night auditor and cashier
- Negligence by the staff to look at the black list
CASH CONTROL:
- All cash must be kept under lock and key and under the supervision of the cashier.
- The cash bank/float given to the cashier is also controlled and a check is kept on the same
- The cashier should take proper precautions when dealing with foreign currency
- Whenever the guest pays in cash the cashier has to make a cash receipt and hand it over to the guest.
- The cash collected everyday should be sent to the bank for deposit.
Cash control is important from the point of view of hotel as credit sales are usually discouraged.
PROTECTION OF HOTEL FUNDS:
- Cashiers should make frequent money drops to have minimum cash in hand.
- Cash drawers should be accessible to only one cashier at a time and should be kept closed when not in use.
- Alarm systems should be installed in all areas of the hotel where cash transactions take place.
- A consistent system for handling bank deposits and money pickup should be developed and followed.
- Staff handling money like the cashier, security etc should be appointed only after strict scrutiny and cross checking with their previous employers. They should be rotated from time to time and a new combination of staff should be used.
- They must also be trained to react in emergency situations.
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