Sales record and control of revenue producing sections is an essential part of hotel accounting, as it enables hotel management to monitor revenue generated by different sections and identify opportunities to increase profitability. In this unit, we will cover the following topics:
Sales record: This involves keeping track of all sales made by various revenue-producing sections of the hotel, such as rooms, food and beverage, and other services. Sales records help management identify trends in revenue generation and make informed decisions about pricing, marketing, and staffing.
Control procedures: To ensure that revenue is accurately recorded and properly allocated to the appropriate sections, hotels must implement control procedures. These may include internal audits, physical inventory checks, and cash handling policies.
Revenue management: This involves maximizing revenue and profits through the strategic pricing and management of hotel inventory. Revenue management techniques may include dynamic pricing, capacity management, and demand forecasting.
Point of sale systems: These computerized systems are used in many hotels to facilitate sales recording and revenue control. They can provide real-time data on sales and inventory levels, making it easier for management to track revenue and identify opportunities for improvement.
There are various forms and formats used for keeping sales records and control on the sale of rooms and food in hotels. Some of the common forms and formats are:
Room occupancy report: This report provides a summary of the number of rooms sold, the average room rate, and the revenue generated by room sales for a given period.
Food and beverage sales report: This report provides a summary of the total revenue generated by the food and beverage department, broken down by category (e.g. breakfast, lunch, dinner, bar).
Banquet event order (BEO): This document outlines the details of a specific banquet or event, including the date, time, number of guests, menu, and any special requests or accommodations.
Menu engineering report: This report analyzes the profitability of individual menu items by comparing the cost of ingredients to the selling price.
Sales forecast: This document predicts future sales levels for the hotel, based on historical data and market trends.
Cash control report: This report tracks cash transactions, including cash sales, tips, and cash refunds.
Point of sale (POS) reports: These reports provide real-time data on sales and inventory levels at the point of sale, allowing management to track revenue and identify opportunities for improvement.