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Code Topic
Finance Department
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Finance Department
Receiving of Goods
Objective
This SOP is to ensure that the quantity and quality of the materials or goods received are in
accordance with the required specification stated on the Purchase Order.
Responsibility
General Instruction
All suppliers are to be instructed to deliver all goods to the receiving area.
Supplier must deliver all goods within an agreed time frame stated by the Hotel/Resort.
Before accepting any goods, the Receiving Clerk, and/or Store Keeper has to ensure that the
purchases are supported by approved purchase orders. No orders, no deliveries.
Suppliers must be instructed to submit delivery notes (with completed and correct pricing
details) together with goods. Supplier should be instructed that no invoice is paid unless they
have copies signed by authorized personnel. In case the Hotel/Resort does not receive
necessary copies of the suppliers invoice or delivery orders, the receiving clerk must arrange the
necessary number of photo-stat copies.
The receiving clerk should receive information regarding price of items purchased in order to
facilitate Food and Beverage inventory control and Food/Beverage cost recording so that
inventory record can be up-to-date and daily Food and Beverage report can be produced on
a timely basis.
Procedure
The receiving clerk must inspect the goods received by counting each item and/or carefully
weigh and cross-check against the specification contained in the respective purchase order, by
invoice/delivery order accompanying the delivery. Depending upon goods being received, the
Department Head may be requested to inspect the quality of goods and reject items not
meeting the purchase/quality specifications.
For perishable food items; on examination where signs of deterioration is noticed, products are
to be rejected, by visual examination or in some cases by date stamps used by vendors.
After checking of goods by the receiving clerk, all invoices or delivery notes must be signed and
rubber-stamped to show that the goods have been checked and accepted.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-002
Advanced Payment
Objective
This SOP is to establish the procedure for income auditing to ensure that all revenue occurred in every
outlet is posted completely, corresponding to the proper category of revenue.
Responsibility
Procedures
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-003
Objective
This SOP is to ensure, departments receiving cash float are aware of the related responsibilities and
required procedures.
Responsibility
General Instruction
Procedure
Before every shift, all cashiers have to count the cash float received/prepared by the Chief
Cashier or any other designated associate.
At the end of shift, all cashiers must count and send the cash float & revenue to the designated
person/place such as to the Chief Cashier or the Safe Deposit Box.
The count result of cash float & revenue is reported in the cash count report corresponding to
each point of sales. The name of person on that shift also needs to be reported. The cash on
hand must be balanced with the cash of the point of sales and house fund.
In case of missing cash or shortage, the Chief Accountant is to investigate and report directly to
the Financial Controller and General Manager; the respective shift can thus not be closed until
all revenue/cost centres are balanced.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-004
Objective
This is to ensure that the amount of credit card commission, posted to General Ledger, is correct and
VAT for credit card commission are claimed as VAT purchase.
Responsibility
Procedure
The designated person will summarize the amount of credit card commission and VAT purchase
from the Tax Invoice received from the credit cards company or bank by month end.
Upon receiving of the Tax Invoice from the credit cards company or bank, it needs to be
reconciled with all supporting bank statements to ensure that the Hotel/Resort receives all Tax
Invoices for every credit card payment transactions.
The total amount of credit card commission and VAT purchase is posted to the General Ledger
under the credit card commission and VAT purchase account code at the end of month.
All Tax invoices are sent to an outside accounting company for accounting and tax record.
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Finance Department
Petty Cash
Objective
This SOP is to ensure that the person responsible for petty cash is aware of the related responsibilities
and required procedures.
Responsibility
Procedures
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-006
Purchasing
Objective
This SOP is to ensure, having strong internal controls applying to procurement and cash disbursements
relating to purchasing activities and to ensure that all purchasing of goods and services of any nature
is processed through the Purchasing Department in accordance with established guidelines.
This SOP is to ensure that requests for goods and services is made by the appropriate person and is
properly approved by the management according to the Company guidelines.
This SOP is to ensure that payments are made only for goods and services which are properly
authorized and received.
Consistency in control of
Quality
Freshness
Price (season)
Advantage
Save storage space
Prevent spoilage
Food items
Fresh vegetables
Fruits
Herbs, Spices, Condiments
Meat, poultry
Fish, Seafood
All import products (expensive items)
The Purchasing Policy and Procedure apply to all the departments and represents the minimum
requirements towards the achievement of the Hotel/Resort objectives. All employees are responsible
for compliance with the applicable policy and procedures.
Procedure
1. Purchase Requisitioning
Departments are responsible for initiating the purchase of goods or services required. The
person who authorities the requisition should ensure that the items to be purchased are
necessary for the departments operation and are within budget.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-006
Purchasing
The requests of goods and services is made by the requesting departments that have to
consider the following information:
There are three ways for an operating department or storekeeper to initiate a purchase of
goods or services:
A purchase requisition is prepared for all non-food items. Purchase of food items are handled by daily
market list. A purchase order is made according to the requisition.
The person in the department who has responsibility for raising requisitions prepares a pre-
numbered purchase requisition stating the following details:
1. Department name
2. Date
3. Required delivery date
4. Place of delivery
5. Description of goods or service and quantity required
6. Price (if known)/ Applicable discount negotiated
7. Reason for purchase
8. Special instruction (of any)
The authorized person (Usually the department head) should review the items requested to
ensure that they are necessary for the departments operation and that are within the approved
budget before signing the Purchase Requisition as evidence of approval.
Original Finance Department, to be attached to the Purchase Order for matching with the
payment supporting document
2nd copy Purchasing Department, filing in numerical order, for reference on purchasing
3rdcopy Requisition/Department, for filing and follow-up of purchase
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 2
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-006
Purchasing
2. Purchasing
Requisition for purchases must be reviewed to ensure that the amount of requisition is within the
Company approval limit.
Purchase order is used at all times, showing quantities, prices, payment and shipping terms.
Competitive bids or quotes are obtained prior to placing orders and documentations is to be
maintained to show that competitive bids were obtained.
Its the DHR policy to negotiate for discounts, for product quantities/amount exceeding a
certain figure agreed as per Hotel/Resort policy.
Its the DHR policy to obtain a minimum of three (3) quotations prior to submission for a Purchase
Order. In selecting a supplier, purchasing has a short list of three potential suppliers. After
obtaining quotations from the potential supplies the purchasing personnel must prepare a price
comparison.
The purchase personnel must review the offers and select the supplies based on the criteria set-
out. During the review of quotations they should consult with the Purchasing Manager to ensure
that the best offer is selected. The purchasing personnel, after selection of the supplier, may ask
the selected supplier for discount or better terms of payment, if possible.
The selection criteria which should be applied in vendor selection are as follows:
1. The VALUE FOR MONEY of the materials or goods from the suppliers
2. The QUALITY of the offer compared with those at a lower price
3. The PERFORMANCE of the supplier in terms of punctuality of delivery, after-sales-service,
and cooperation with the company
After selection of the supplier, the purchasing personnel should place the order with the supplier.
The Purchasing Manager is responsible for issuing purchase orders, They are to be issued in a
numerical sequence stating the following details:
The approval of purchase orders is made on running number of purchase order form, reviewed
for correctness and approved by the authorized person who has such authority to act on behalf
of the Company guidelines (usually to Financial Controller and General Manager/or the
designated person).
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 3
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-006
Purchasing
3. Monitoring of Delivery
The Purchasing Department is responsible for monitoring delivery to ensure that the supplier
delivers the goods according to the schedule stimulated in the purchasing order.
The Purchasing personnel should perform a review of all the outstanding orders, including
partially filled orders on a daily basis or more frequently as operational needs to expedite the
delivery.
The purchase personnel keeps departments informed of delivery dates. This is to enable them to take
any corrective actions if delivery cannot be made.
Vegetables Pork
Asparagus Fillet
Broccoli Neck
Carrots Belly
Condiments Chicken
Bean Cured Hip
Pickled Ginger Breast
Wings
Fruits
Water Melon
Seafood
Pineapple Prawns
Papaya Squid
Snapper
Herbs
Basil hot
Basil sweet
Signature __________________
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 4
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-007
VAT Sales
Objective
This SOP is to establish the procedure for issuing official tax invoice and tax invoice (abbreviation) and
to do VAT sales report to conform to the Revenue Departments regulation.
Responsibility
Official Tax invoice is issued to Travel Agency/Tour Operator or Guests who request for Official
tax Invoice.
To conform with the Revenue Departments regulations, the details needed to be in the Official
Tax Invoice are as follows:
Official Tax invoice is issued when the payment is received and the payment amount is already
paid-in to the bank account. The date on the official Tax Invoice is the date the Hotel/Resort
receives the payment.
Cashier/Bill Collector is to prepare the Tax Invoice and must sign his/her name on it.
Official Tax Invoice (Original) is sent to the Travel Agency/Tour Operator by post on the next day
after the Hotel/Resort receives the payment. The copy is kept in Monthly VAT sales file.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-007
VAT Sales
Tax Invoice (Abbreviation) will be issued in case of cash or credit card payment by guests who
do not request for Official tax Invoice. This is considered a selling to retail guests.
To conform with Revenue Departments regulations, the details needed to be in Official Tax
Invoice are as follows:
Tax Invoice (Abbreviation) will be issued after we summarize VAT sales from tax Invoice
(Abbreviation). The copy will be kept in Monthly VAT sales file.
Tax Invoice (Abbreviation) is not needed to be sent to anybody. But, it needed to be issued
according to Revenue Departments regulations in order to be an evidence of goods selling or
service providing.
To conform with the Revenue Departments regulations, the details needed to be in Official Tax
Invoice are as follows:
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 2
Finance Department
Standard Operating Procedure
Update: 15.08.08 / CO-FI-SOP-007
VAT Sales
VAT sales amount will be reported together with VAT purchase amount to Revenue Department
within the 15th of next month by using the PP.30 form.
VAT sales from Official Tax Invoice are summarized from Official Tax invoice which is issued to
Travel Agency/Tour Operator or Guests who request for Official tax Invoice.
VAT sales from Tax Invoice (Abbreviation) are summarized from the amount of cash and credit
card payment by retail guests at each outlet and front office.
1. Go to Amadeus System
2. Select Accounting (from Tool bar)
3. Select Journal, then Posting Journal
4. Select date from &to, then GO
5. Summarize only transaction payments which are cash and credit card, then export to
excel file.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 3
Finance Department
Standard Operating Procedure
Update: 15.08.08 /CO-FI-SOP-008
Objective:
This is to ensure the correct handling of all travel agent-related payments in regards to set menu
payments.
Procedures:
4. Cashier cross-checks the voucher of its validity (by using an internal confirmed travel agent list).
6. Cashier issues a manually-written statement without using prices for the set menus by using the
correct name of set menu and number of person(s)
- Payment will state only beverage payments with applicable service charge and tax
- Cashier logs all vouchers received by guests for recording purpose
7. Guest makes direct or credit card payment to outlet for the beverages.
8. Cashier posts respective set(s) and correct number of person(s) into POS including discount.
9. Accounting Department issues a tax invoice to respective agent with listed net price after
discount with confirmed person(s) dined at the restaurant and attached original voucher(s) of
respective agent.
10. Original invoice is faxed or personally sent to all agents on a weekly basis by noticing the agents
beforehand to prepare the payment.
11. 7 days credit is given as contracted to complete the payment by bank transfer or cash
payment.
12. If agent does not pay within 7 days, credit is extended to 14 days, if agent is over limit at this
point no bookings are accepted.
13. If agent does not pay after 14 days, bookings of respective agent are rejected until agent
makes payment of the entire outstanding amount.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 /CO-FI-SOP-008
Process Diagram:
Start of process
No
Cashier cross-checks validity of voucher Invalid voucher is rejected:
Apologize to guest and ask to dine a la carte offering
an FOC aperitif
Issue manually written statement w/o set Cashier records voucher Follow STD
menu price, incl. beverage consumption, service
service CH & taxes sequence
Client makes direct or cc payment Cashier posts set in POS End of process
Date after received invoice, 7 days credit to Agent does not pay Extend credit to 14 days
complete payment to complete payment
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Finance Department
Officers Check
Objective
This SOP is to outline the procedure and policies of Officers check and to ensure that all departments
concerned adhere to it strictly.
It is further a benefit for Assistant and Head of Departments and to check the quality of the Food &
Beverage service.
Responsibility
Policies
Officers check privileges are assigned (with a specific amount) to certain members of the
management of the Hotel/Resort.
The Officers check of the restaurant is issued with sales prices, but the Officers check is
accounted as per cost price.
The Officers check privilege is an integral part of the management member package/benefit
and for their use at their sole discretion.
The management can use the benefit during both working hours and non-working hours and
should prevent to use this benefit during peak times.
During duty hours responsible management can not order alcoholic beverages, however after
working hours as long as it is not excessive, they can.
The management can order take-away.
The management can invite a friend or family member as long as the amount does not exceed
the monthly F&B allowance.
In case of over credit; Finance Department charges the beneficiary sales prices.
Procedures
F&B Server/Captain/Manager has to issue a Captain Order, to be attached with the Officers
Check each time.
The management who uses the Officers check must sign it within the same day. If there is no
signature, the amount it will be charged to the City Ledger.
Cashiers at each outlet have to send all Officers checks to the Income Auditor/Cost Controller
after shift closing. At the night time, all OC are sent to its respective place.
Officers Check Report must be forwarded to the General Manager daily for acknowledgement.
Income Auditor has to issue a monthly summary of all Officers checks for each person and
forward to the General Manager accordingly.
For Management member(s) who uses this benefit over limit; the Income Auditor is to inform the
management respectively, the associate has to pay and balance his/her allowance the
following month.
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler 1
Finance Department
Standard Operating Procedure
Update: 15.08.08 CO-FI-SOP-010
This material is copyright protected and is property of Daniel G. Fuchs and Stephan Faessler. 1