AP
Starting January 2026, this is the closing date for Accounts Payable at month-end, which falls on the 5th business day.
What is the 5th business day after month-end
This day of the week marks the due date for posting advance purchases.
What is Friday?
If you purchase an item outside the approved order guide or from a non-preferred vendor, you must do this to justify the purchase.
What is write a note explaining why the purchase was made?
What is a daily or weekly task to ensure petty cash is balanced and accounted for?
What is petty cash reconciliation?
When an invoice is missing and the staff accountant emails you, this person needs to be updated both when the issue is acknowledged and when the task is completed.
Who is the Staff Accountant?
For repair invoices, any expense greater than this amount requires RDO approval.
What is $1,000.00?
This is the due date for posting franchise credits, which falls on the 10th business day of each month.
What is the 10th business day of the month?
When your staff accountant emails you, this is the maximum time you have to respond.
What is 24 Hours?
To stay compliant with monthly procedures, vendor statements must be uploaded by this business day each month.
What is the 5th business day?
I'm the one who make the business more successful and better. What is the account name?
Revenue
When processing a guest assistance or guest relations invoice, you must include these three items to ensure proper documentation and resolution.
What are the folio, case file, and a note explaining what happened and how it will be prevented in the future?
For any purchases approved through Quore, this packet must be submitted as supporting documentation with the invoice.
What is the Quore Packet?
In Hotel accounting, this term refers to the practice of estimating future hotel operating expenses and revenues for budgeting purposes.
What is Forecasting?
This accounting method allows hotels to recognize revenue when a guest checks out, rather than when the booking is made.
What is the Accrual Basis of Accounting?
When uploading a franchise invoice, these two items must also be entered as backup.
What are Statement and Service Recovery Points?
This report provides a detailed summary of a hotel's income and expenses for a specific period, commonly review by management for financial perfomance
What is the Profit and Loss Statement?
I'm an account that can make the business bankrupt. What is the account name?
Expenses
This Key Performance indicator measures a hotel's revenue generated per available room.
What is RevPar.
I am always used to check the equality for both debit and credit's sale. What am I called?
Trial Balance.
I am used for buying food and other cheap expenses
Petty Cash