Accouting

Daily Tasks:

1. Invoices: These should be entered daily into the Accounts Payable module in M3, if you’re on top of it this should go quick. Don’t hesitate to train your AGM/FOM/Auditor on any M3 process, you should have a back up to be able to help you!

2. Daily Report: This should be rolled every morning by 10:00AM (Monday-Friday). Please make sure you have someone who can take care of this while you are out. Most properties have a night auditor taking care of this already. Every hotel should have a login to M3 for their auditor/s, let Jacob and I know if you need help getting someone set up. If your night auditor is currently taking care of this process, please be sure to double check that it was rolled during the night. Be sure to email Jacob and I if the Daily Report is out of balance or you’re having issues, we will jump in and help fix it right away. Starting next week the owners will be getting a report from all of the hotels through M3 that will show the previous days numbers. To ensure that it’s not blank we need you to do this every day and if your auditor misses it we need you to double check and then complete it.

Weekly/Monthly:

1. CLC: If you have CLC reservations, make sure you’re logging into the portal and posting payment weekly or regularly.

2. Franchise Rewards Reimbursement Posting: The credit from your Franchise Invoice to reimburse for rewards stays needs to be posted monthly. Please reach out to Jacob and I if you have any questions or need help with this.

3. Depositing Cash: You should be making it to the bank once a week. Depending on if you’re bringing in a lot of cash or very little, running to the bank could be more or less frequent.

4. Chargebacks: Make sure you’re disputing any chargeback that gets mailed to the property or is initiated on your merchant account portal. Provide as much back up as possible so that we aren’t losing these.

5. PMS Ledgers: Your ledgers should be clean. Between the GM, AGM, FOM, and Night Auditors someone should be reviewing these almost daily.

   1. Guest Ledger: This report should only be in-house guests. Look out for any Checked-Out, cancelled, no-show, and house accounts with a balance that we haven’t received payment for. Figure out why payment hasn’t been taken or work on contacting them to get payment. Please work on collecting on these reservations first or posting cancellation revenue if there's a credit for that. If you can't collect then look into why we didn't collect earlier and we can discuss adjusting off.

   2. Accounts Receivable (A/R, Aging, or City) Ledger: Make sure you have billed any groups that have direct billing and continue to follow up on payment status. Monitor any accounts such as, CLC and Franchise Rewards, to make sure payments are being posted. When looking at your Aging, anything over 30 days should be mailed to the company weekly until we get payment.

   3. Advance Deposit Ledger: This report should only have the deposits of future guests. If there’s reservations with a cancelled status from the past then make sure to post cancellation revenue and clear that up.

Month-End (first few business days of the new month):

1. Cash Deposit Log: Make sure to send Jacob and I your deposit log for the month (I will attach with another email).

2. Petty Cash: Make sure to send Jacob and I your Petty Cash spreadsheet with the coding for each transaction along with the receipt (attached if you don’t already have the spreadsheet).

3. Credit Card Receipts and Coding: If your property uses a company credit card, please make sure you have all of your receipts together and coded. I will send out the credit card statement and worksheet to get everything filled out.