lBSBFIM601 MANAGE FINANCE

ASSESSMENT 1

1. What are the requirement for financial probity?

Probity requires that a public authority conduct its procurement activities ethically, honestly and
fairly. Elements of a procurement culture that promotes and demonstrates high standards of
probity include the following:
● Expected behaviours are articulated and enforced.
● Officers involved are skilled, knowledgeable and experienced.
● Appropriate checks and balances are in place at various stages in the procurement
process.
● The concept of conflict of interest is well understood and strategies are in place to
identify and manage potential issues.
● Communication with suppliers is consistent and does not disadvantage or advantage
one supplier over others.
● Officers are not compromised in their ability to act, or to be seen to act, impartially.
● Confidentiality of supplier information and evaluation processes is secure.

Probity decisions should be:

● Helpful: Probity should be used to facilitate discussion of current approaches to market
with suppliers in order to promote genuine engagement,
● Inclusive: Probity processes should be designed to enable innovative approaches to be
adopted if required.
● Tailored: Probity roles can be tailored to the business need and range from using
internal expertise through to engaging external specialist advice.
● Sensible: Each individual process may require a different approach; one size will not fit
all.
Probity is the evidence of ethical behaviour, and can be defined as complete and confirmed
integrity, uprightness and honesty in a particular process.
1. The principles underpinning ethics and probity in Australian Government Procurement are:
○ Officials must act ethically, in accordance with the APS Values (set out in section
10 of the Public Service Act 1999) and Code of Conduct (set out in section 13 of
the Public Service Act 1999), at all times in undertaking procurement.
○ Officials must not make improper use of their position.
○ Officials should avoid placing themselves in a position where there is the
potential for claims of bias.
○ Officials must not accept hospitality, gifts or benefits from any potential suppliers.
○ Agencies must not seek to benefit from supplier practices that may be dishonest,
unethical or unsafe.
○ All tenderers must be treated equitably. This means that all tenderers must be
treated fairly - it does not necessarily mean that they are treated equally.
○ Conflicts of interest must be managed appropriately.
○ Probity and conflict of interest requirements should be applied with appropriate
and proportionate measures informed by sound risk management principles.
 ○ Value for money outcomes are best served by effective probity measures that do
not exclude suppliers from consideration for inconsequential reasons.
○ Confidential information must be treated appropriately during and after a
procurement process.
○ External probity specialists should only be appointed where justified by the
nature of the procurement.
2. Mechanisms for assuring probity should be applied sensibly in procurement processes, with
the management of probity issues tailored to each individual process.
3. Importantly, probity should not be used to justify avoiding reasonable discussion with
potential suppliers during a tender. Officials are able to discuss current tenders in the market
with potential suppliers. The level of detail and formality in providing information should be
appropriate to the risk of the procurement. The procurement's level of risk will inform how
officials engage with potential suppliers:
● For lower risk (typically low cost and complexity procurements run via limited tender), in
line with the probity principles above, officials can discuss the procurement. This process
can reasonably be dealt with by the tender contact officer with limited requirements for
formalised or rigid probity processes. Information can be discussed in a meeting or over
the telephone, or where necessary, via written correspondence (e.g. email). Any
information provided to the potential supplier that would be useful for other potential
suppliers should be de-identified and provided to them also.
● For higher risk (typically higher cost and complexity procurements run via open tender),
it is appropriate to implement more rigor in dealing with suppliers. This may include
formalised approaches to handling requests from suppliers, specified probity roles and
utilising additional expertise where necessary

2. Describe the principles of and provisions for effective financial systems.

a.Business Plan
A business plan is a formal statement of business goals, reasons they are attainable, and plans
for reaching them. It may also contain background information about the organization or team
attempting to reach those goals.

b. Transaction Recording
An accounting transaction is a business event having a monetary impact on the financial
statements of a business. It is recorded in the accounting records of the business. Examples
of accounting transactions are: Sale in cash to a customer.

c.Reconciliation Processes
Reconciliation is an accounting process that uses two sets of records to ensure figures are
correct and in agreement. It confirms whether the money leaving an account matches the
amount that's been spent, ensuring the two are balanced at the end of the recording period.
d.Invoicing
An invoice is a commercial document that itemizes a transaction between a buyer and a seller.
If goods or services were purchased on credit, the invoice usually specifies the terms of the
deal, and provide information on the available methods of payment. An invoice is also known
as a bill or sales invoice.

e.Accounts payable
Accounts payable is money owed by a business to its suppliers shown as a liability on a
company's balance sheet. It is distinct from notes payable liabilities, which are debts created by
formal legal instrument documents.

f.Account receivable
Accounts receivable is a legally enforceable claim for payment held by a business for goods
supplied and/or services rendered that customers/clients have ordered but not paid for.

g.Cash Management
Cash management refers to a broad area of finance involving the collection, handling, and
usage of cash. It involves assessing market liquidity, cash flow, and investments.

h.Security Measures
Measures taken as a precaution against theft or espionage or sabotage etc. a precautionary
measure warding off impending danger or damage or injury etc

i.Banking Procedures
1. Opening the Bank Account

2. Investment of Funds on Hand

3. Deposit Content

4. Disbursements

5. Bonding

6. Closing the Bank Account

j.Revenue Systems
In accounting, revenue is the income that a business has from its normal business activities,
usually from the sale of goods and services to customers. Revenue is also referred to as sales
or turnover. ... This is to be contrasted with the "bottom line" which denotes net income (gross
revenues minus total expenses).
k.Financial Management System
A financial management system is the methodology and software that an organization uses to
oversee and govern its income, expenses, and assets with the objectives of maximizing profits
and ensuring sustainability.

4. Explain the following :

1.Australian Consumer Law(ACL)

The Australian Consumer Law (ACL) includes:
● a national unfair contract terms law covering standard form consumer and small
business contracts;
● a national law guaranteeing consumer rights when buying goods and services;
● a national product safety law and enforcement system;
● a national law for unsolicited consumer agreements covering door-to-door sales and
telephone sales;
● simple national rules for lay-by agreements; and
● penalties, enforcement powers and consumer redress options.

The ACL applies nationally and in all States and Territories, and to all Australian businesses.
For transactions that occurred prior to 1 January 2011, the previous national, State and Territory
consumer laws continue to apply.
The ACL is administered by the ACCC and state and territory consumer protection agencies
and is enforced by all Australian courts and tribunals, including the courts and tribunals of the
States and Territories.
The protections in the ACL are generally reflected in similar provisions in the Australian
Securities and Investments Commission Act 2001 (ASIC Act), so that financial products and
services are treated in the same way.
The ACL is a cooperative reform of the Australian Government and the States and Territories,
through Council of Australian Governments (COAG). An Intergovernmental Agreement (IGA)
signed by the Council of Australian Governments underpins the establishment of the ACL.
The ACL was the key recommendation of the Productivity Commission’s 2008 Review of
Australia’s Consumer Policy Framework. The Productivity Commission found that the ACL could
deliver between $1.5 and $4.5 billion of benefits to the Australian community.

2.International Commercial terms (INCOTERMS)

INCOTERMS® — International Commercial Terms — are three-letter trade terms developed
by International Chamber of Commerce and widely used in international and domestic
contracts for the sale of goods. They're accepted by governments and shippers worldwide, and
are used to prevent uncertainty or misunderstandings.
INCOTERMS® specify the rights and obligations of each of the parties that enter into a contract
for the delivery of goods sold. These eleven terms specify how transaction costs and
responsibilities are divided between buyer and seller.
Revised INCOTERMS® took effect on January 1, 2011. The number of terms has been reduced
from thirteen to eleven:
● Several terms have been eliminated
● Delivered at Place (DAP), Delivered at Terminal (DAT), and Delivered Duty Paid (DDP)
have been added.

1. Terms For Any Transport Mode

Each of these seven terms must specify the port or destination.

CIP—Carriage and Insurance Paid (TO) (named place of destination)

The seller pays for moving the goods to the destination. From the time the goods are transferred
to the first carrier, the buyer bears the risks of loss or damage, but the seller pays for the cargo
insurance.

CPT—Carriage Paid To (named place of destination)

The seller pays for moving the goods to destination. From the time the goods are transferred to
the first carrier, the buyer bears the risks of loss or damage.

DAP—Delivered At Place (named place of destination)

Delivery takes place when the seller places the goods at the buyer's disposal on the arriving
means of transport, and when the goods are therefore ready to be unloaded at the named place
of destination. It's best to be as specific as possible about the exact point within the place of
destination, because that's the point where the risk transfers from seller to buyer.

DAT—Delivered At Terminal (named place of destination)

The seller delivers the goods when they have been unloaded from the arriving means of
transport and placed at the disposal of the buyer at a named terminal at the named port or place
of destination. "Terminal" includes quays, warehouses, container yards, or road, rail or air cargo
terminals. The seller and the buyer should agree to the specific terminal and, when possible, the
point within the terminal at which the risks will transfer from the seller to the buyer of the goods.

DDP—Delivered Duty Paid (named place of destination)

The seller delivers the goods which have been cleared for import to the buyer at destination.
The seller bears all costs and risks of moving the goods to destination, including the payment of
Customs duties and taxes.

ExW—Ex Works (named place)

The seller's only responsibility is to make the goods available at the seller's premises. The buyer
bears full costs and risks of moving the goods from there to destination. EXW means that a
seller has the goods ready for collection at his premises (factory or warehouse, for example) on
the date agreed upon. This term places the greatest responsibility on the buyer and minimum
obligations on the seller.
FCA—Free Carrier (named places)
The seller delivers the goods that have been cleared for export to the carrier selected by the
buyer. The seller loads the goods if the carrier pickup location is on the seller's premises, i.e.,
truck. From that point, the buyer bears the costs and risks of moving the goods to destination.
This is the "freight collect" term that should be used for sea shipments in containers, whether
LCL (less than container load) or FCL (full container load).

2. Maritime-Only Terms
CFR—Cost and Freight (named destination port)
The seller clears the goods for export and pays the costs and freight to the named port of
destination. The buyer bears risks of loss or damage.

CIF—Cost Insurance and Freight (named destination port)

The seller clears the goods for export and pays the costs, cargo insurance, and freight to the
named port of destination. The buyer bears risks of loss or damage.

FAS—Free Alongside Ship (named loading port)

The seller delivers the goods to the named port of shipment. From that point the buyer bears all
costs and risks of loss or damage. This term is only used for maritime transport but it's not used
for multimodal sea transport in containers. It's typically used for heavy-lift or bulk cargo.

FOB—Free on Board (named loading port)

The seller delivers the goods on board the ship and clears the goods for export. From that point
the buyer bears all costs and risks of loss or damage.

3.Warsaw Convention
The Convention for the Unification of certain rules relating to international carriage by air,
commonly known as the Warsaw Convention, is an international convention which regulates
liability for international carriage of persons, luggage, or goods performed by aircraft for reward.

An international agreement defining the responsibilities and limiting the liability of air carriers
involved in international transport. Among other things it establishes the international liability of
air carriers and the monetary limits o loss, damage, and delay. The formal name is: The
Convention for the Unification of Certain Rules Relating to international Carriage by Air.

4.Trade Agreements
Trade agreements are when two or more nations agree on the terms of trade between them.
They determine the tariffs and duties that countries impose on imports and exports. All trade
agreements affect international trade.
Imports are goods and services produced in a foreign country and bought by domestic
residents. That includes anything shipped into the country even if it by the foreign subsidiary of
a domestic firm.
If the consumer is inside the country's boundaries and the provider is outside, then the good or
service is an import.
Exports are goods and services that are made in a country and sold outside its borders. That
includes anything shipped from a domestic company to its foreign affiliate or branch.

Three Types of Trade Agreements

There are three types of trade agreements. The first is a unilateral trade agreement. It occurs
when a country imposes trade restrictions and no other country reciprocates.
A country can also unilaterally loosen trade restrictions, but that rarely happens. It would put the
country at a competitive disadvantage. The United States and other developed countries only
do this as a type of foreign aid. They want to help emerging markets strengthen certain
industries. The foreign industry is too small to be a threat. It helps the emerging market's
economy grow, creating new markets for U.S. exporters.

Bilateral trade agreements are between two countries. Both countries agree to loosen trade
restrictions to expand business opportunities between them. They lower tariffs and confer
preferred trade status with each other. The sticking point usually centers around key protected
or subsidized domestic industries.

For most countries, these are in the automotive, oil or food production industries. The United
States has 16 bilateral agreements. The Obama administration was negotiating the world's
largest bilateral agreement. It was the Transatlantic Trade and Investment Partnership with the
European Union.
Multilateral trade agreements are the most difficult to negotiate. These are among three
countries or more. The greater the number of participants, the more difficult the negotiations
are. They are also more complex, since each country has its own needs and requests.
Once negotiated, multilateral agreements are very powerful. They cover a larger geographic
area. That confers a greater competitive advantage on the signatories. All countries also give
each other most favored nation status. They agree to treat each other equally.
The largest multilateral agreement is the North American Free Trade Agreement. It is between
the United States, Canada and Mexico. Their combined economic output is $20 trillion. NAFTA
quadrupled trade to $1.14 trillion in 2015 But it also cost between 500,000 to 750,000 U.S. jobs.
Most were in the manufacturing industry in California, New York, Michigan and Texas. For
more, see Pros and Cons of Free Trade Agreements.

The United States has one other multilateral regional trade agreement. The United States
negotiated the Central American-Dominican Republic Free Trade Agreement. It was with Costa
Rica, Dominican Republic, Guatemala, Honduras, Nicaragua and El Salvador. It eliminated
tariffs on more than 80 percent of U.S. exports.
The Trans-Pacific Partnership would have replaced NAFTA as the world's largest agreement. In
2017, President Trump withdrew the United States from it.

The Role of the WTO in Trade Agreements

Once agreements move beyond the regional level, they usually need help. The World Trade
Organization steps in at that point It is an international body that helps negotiate global trade
agreements. Once in place, the WTO enforces the agreements and responds to complaints.
The WTO currently enforces the General Agreement on Tariffs and Trade.

The world almost received greater free trade from the next round, known as the Doha Round
Trade Agreement. If successful, Doha would have reduced tariffs across the board for all WTO
members.
Unfortunately, the two most powerful economies refused to budge on a key sticking point. Both
the United States and the EU resisted lowering farm subsidies. These subsidies made their food
export prices lower than those in many emerging market countries. Low food prices would have
put many local farmers out of business. When that happens, they must look for jobs in
overcrowded urban areas. The U.S. and EU refusals to cut subsidies doomed the Doha round.
It is a thorn in the side of all future world multilateral trade agreements.
The failure of Doha allowed China to gain a global trade foothold. It has signed bilateral trade
agreements with dozens of countries in Africa, Asia and Latin America. Chinese companies
receive rights to develop the country's oil and other commodities. In return, China provides
loans and technical or business support,

5.World Trade Organization determinations

The World Trade Organization (WTO) is the only global international organization dealing
with the rules of trade between nations. At its heart are the WTO agreements, negotiated and
signed by the bulk of the world's trading nations and ratified in their parliaments.

The World Trade Organization (WTO) is the only international institution that oversees the
global rules of trade between nations. The WTO is based on agreements signed by the majority
of the world's trading nations. The main function of the organization is to help producers of
goods and services, exporters and importers protect and manage their businesses.
Proponents of the WTO, particularly multinational corporations, believe that the WTO is
beneficial to business. Skeptics believe that the WTO undermines the principles of organic
democracy and widens the international wealth gap.

BREAKING DOWN 'World Trade Organization - WTO'

The WTO is essentially a mediation entity that upholds the international rules of trade between
nations. However, the WTO has fueled globalization with both positive and adverse effects. The
WTO's efforts have increased global trade expansion, but a side effect has been a negative
impact on local communities and human rights.
Advocates of the WTO consider the stimulation of free trade and a decline in trade disputes as
beneficial to the global economy. Critics of the WTO point to the decline in domestic industries
and increasing foreign influence in some cases as negative impacts on the world economy.

5.
The Australian Tax Office (ATO) requires businesses to submit a business activity statement
(BAS) monthly, quarterly or annually (annual GST return, if eligible).
It is used to report and pay goods and services tax (GST), pay as you go (PAYG) instalments,
PAYG withholding tax and other tax obligations.
When you register for an Australian business number (ABN) and GST, the ATO will
automatically send you a BAS when it is time to lodge. All businesses registered for GST must
lodge a BAS before the due date.
An instalment activity statement (IAS) is similar to the BAS but without GST and some other
taxes. Businesses that are not registered for GST would submit an IAS to pay PAYG
instalments.
Financial year reporting
In Australia, the financial year for tax purposes runs from 1 July to 30 June.
Businesses are required to lodge an income tax return for this period. If you operate your
business as a sole trader you can declare your business income as part of your personal
income tax return.

Goods and Services Tax

The Goods and Services Tax (GST) is a national, broad-based consumer tax on most goods
and services sold or consumed in Australia.
Most businesses are required to register for GST with the Australian Taxation Office.
Businesses which have paid for business supplies inclusive of GST are entitled to claim an
equivalent input tax credit. Certain businesses may also be eligible for GST concessions.

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other
items sold or consumed in Australia.
Generally, businesses and other organisations registered for GST will:
● include GST in the price they charge for their goods and services
● claim credits for the GST included in the price of goods and services they buy for their
business.

What you need to do for GST

If you run a business or other enterprise and have a GST turnover of $75,000 or more
($150,000 or more for non-profit organisations), or you provide taxi travel (including ride-
sourcing) – you need to:
● register for GST
 ● work out whether your sales are taxable (that is, subject to GST, and not exempted
because they are GST-free or input-taxed) and include GST in the price of your taxable
sales
● issue tax invoices for your taxable sales and obtain tax invoices for your business
purchases
● claim GST credits for GST included in the price of your business purchases
● account for GST on either a cash or non-cash basis and put aside the GST you collected
so you can pay it to us when due
● lodge activity statements or annual returns to report your sales and purchases, and pay
GST to us or receive a GST refund.

Company tax
An Australian resident company is subject to company tax, at a rate set by the Australian
Government.
A non-resident company is taxed on its Australian source income at the same rate as a resident
company. Taxable income and the tax rate may vary under limited circumstances, such as
industry or business structure.

Tax rates 2017–18

The following rates of tax apply to companies for the 2017–18 income year.

Companies

Income category Rate (%)

Base rate entities 27.5

Otherwise 30

Note 1: This includes corporate limited partnerships, strata title bodies corporate, trustees of
corporate unit trusts and public trading trusts.

Life insurance companies

2017–18 tax rates – Life insurance companies

Income category Rate (%)

Ordinary class of taxable income 30

 Complying superannuation class of taxable 15
income

Additional tax on no-TFN contributions 32

income where the company is a retirement
savings account (RSA) provider

RSA providers other than life insurance providers

2017–18 tax rates – RSA providers other than life insurance providers

Income category Rate (%)

RSA component of taxable income 15

Additional tax on no-TFN contributions 32

income

Standard component of taxable income:

● Base rate entity 27.5
● Otherwise 30

Pay as You Go
Pay as You Go (PAYG) instalments allow you and your business to meet your income tax
obligations.

PAYG instalments explained

PAYG instalments is a system for making payments each quarter towards your expected
income tax obligation on your business and investment income for the current financial year.
PAYG instalments are generally paid by business owners, investors and sub-contractors who
earn a certain amount of income.
The Australian Taxation Office (ATO) will write to tell you if you must pay PAYG instalments.

PAYG changes explained

Changes to Pay As You Go (PAYG) instalment thresholds have been introduced to help save
you and your business, time and money.
Changes to PAYG instalments from 1 July 2014 include:
● an increase to PAYG instalment thresholds, which may mean you no longer need to pay
an instalment. Threshold changes include:
○ business or investment income increases from $2 000 to $4 000
○ adjusted balance of assessment increases from $500 to $1 000
○ notional tax increases from $250 to $500.
● no longer being required to remain in the PAYG system if you have a zero instalment
rate, even if you're registered for Goods and Services Tax (GST)
● automatic removal from the PAYG instalments system if you no longer meet the PAYG
instalment thresholds - the ATO will let you know if this happens.
 ASSIGNMENT PROJECT
ASSESSMENT 2

Task 1:

1.Net Cash Flow From Operations:

Cash Receipts from customers = 693,200

Cash paid for

Inventory purchases = -264,000

General Operating and administrative expenses = -112,000
Wage expenses = -123,000
Interest = -13,500
Income Taxes = -32,800

Net Cash Flow From Operations: 147900

2. Net Cash Flow from Investing Activities

Cash paid for purchase of property and equipment - Cash receipts from sale of property and
equipment

-98,300 - 49,700

= 49000

3.Net Cash flow from Financing Activities

repayment of loans - Dividends = -64000 - (-33000)

= -64000+33000

= - 31000
4. Net increase in Cash

Net Cash Flow From Operations+Net Cash Flow from Investing Activities+Net Cash flow from
Financing Activities
 = 147900+49000 + (-31000)
=165900

5. Cash at the end of the year

Net increase in Cash - cash at the beginning of year

= 165900 - 22900

= 143000

Task 2:

$
Total Revenue 13,439,785 Forecasted
2015/16 .52 $ - 2015/16

Room Budget Forecast $ Forecast % Expenses Analysis

Rooms Available 56587.5 90% COGS $ 859,172.85 13%
$
Rooms Occupied 51548 Staff costs 1,466,415.60 22%
Other
Total Occupancy % 91.09 78.0% Expenses $ 134,568.13 9%
Revenue Per Total $
Available Room $ 178.00 Expenses 2,460,156.58
$
9,175,544.
Total Room Revenue 00
 $
Total Catering 4,264,241.
Revenue 52

Food Budget Expenses Analysis

$
2,019,370.
Total Revenue 53 COGS $ 601,944.02 30%
$
2,001,129. $
Total Food Revenue 73 99% Staff costs 1,122,433.24 56%
Total Beverage $ Other
Revenue 301,598.34 15% Expenses $ 130,264.74 6%
Total $
Expenses 1,854,642.00

Banquet Budget Expenses Analysis

$
1,313,940.
Total Revenue 16 COGS $ 408,367.91 31%
$
1,600,000.
Total Food Revenue 00 122% Staff costs $ 385,995.84 29%
Total Beverage $ Other
Revenue 441,427.73 34% Expenses $ 71,830.49 5%

Room Service
Budget Expenses Analysis
$
Total Revenue 417,442.15 COGS $ 105,345.38 25%
$
Total Food Revenue 386,166.14 93% Staff costs $ 228,397.17 55%
Total Beverage $ Other
Revenue 34,668.69 8% Expenses $ 23,233.82 6%
$
Total Other Revenue 46,976.82 11%

Mini Bar Budget Expenses Analysis

$
Total Revenue 146,471.02 COGS $ 35,781.74 24%
Beverage Revenue / $
Minibar 146,471.02 100% Staff costs $ 55,510.55 38%
Other
Other Revenue $- Expenses $ 18,897.56 13%

Bar Budget Expenses Analysis

$
Total Revenue 367,017.66 COGS $ 114,140.20 31%
$
Total Food Revenue 83,989.85 23% Staff costs $ 151,731.13 41%
Total Beverage $ Other
Revenue 359,790.94 98% Expenses $ 24,311.30 7%

Task 3: After the renovation is complete, the 10% of the unused rooms becomes available. So the staffs
rate which was decreased can be increased to some percent. Staffs are the one who brings out the
assumptions to real digits and if they are satisfied with their wages, then overall it will impact upon the
company’s performance.

Task 4:
1. Ans: The very first things that always matters if food. Whether people are coming for
accommodation or only for food, food is always served and so about the beverages. Main target
should be focused in sanitary and hygienic food. Aslo, varieties of food menus can be explored.
For this, cost of bar , mini bar and food budget should be increased managing other expenses.
Also other expenses should not be increased by decreasing staff’s costs because they are the
one if satisfied can bring out the real assumptions to actual income.

2. Ans: Food Services, beverages could be the factors that could be served and considered if the
accomodation reach to 100% as rooms are full, food and beverages are the way to enhance the
sell and earn profits.

Hotelogix offers a revolutionary new Frontdesk interface to work with at the heart of its PMS.
It is a Dynamic Tape Chart that is designed with years of research, and a closely coordinated
development with some of the best brains the industry has to offer. The result has been a
celebrated new design that hoteliers swear by for its simplicity, and flexibility that its powerful
Graphical interface offers even on a basic dial-up Internet connection.
The up-to-the-moment hotel status is displayed on screen at all times. The nice part is that
this simple status chart lets you work on it directly. So add/edit even the most complex form
of bookings, reservations; or transact check-ins, check-outs or payments on the fly within
seconds.
 Hotelogix comes with unlimited built-in POS terminals and an extensively configurable Web
booking engine. The system seamlessly integrates Reservations, Front Desk,
Housekeeping, along with your Restaurants, Spa, Travel Desk etc through its built-in POS
terminals, and also your Marketing/Regional offices, select Corporate customers, and Travel
agents enabling direct transactions on a unified platform

User Management

● Manage multiple hotel properties with Management/Super Administrator/Administrator logins

● No limit to the number of (staff) user accounts
● Real time financial status available to authorized users.

Rates Management

● Number of seasons covering multiple years supported

● Special pricing for holiday, weekend or other short-term event periods
● Special pricing for Adults & Children
● Support for unlimited Add-on services appropriate Revenue distribution
● Negotiated Rates with flexible Commissions/Discounts for travel agents, sources of business
etc
● Surcharge for extra persons
● Daily & Long-stay rates with promotional Discounts
● Group discounts/surcharges
● Multiple rates & rate types support in a single stay
● Centralized rates
● Articulative rate management grid allowing you to set up and change Daily or monthly rate
● Inclusive exclusive set up of rates

Reservations Management

● Room status - available/reserved/checked-in/checked-out/blocked

● Room availability lookup, summary & stay information grid
● Details for a returning guest automatically filled in the reservation screen
● Guest details: name, address, email address, fax number, phone number, credit card(s),
company, member/number, preferences, free format notes
● Historic and current records (mail and email addresses, phone & fax numbers, contact
names etc) of and revenues from/payments to travel agents, sources of business, groups,
companies etc in a central database.
● Credit limits for guests, companies, Agents etc
● History of guest hotel stays including dates, rates paid, total expenditure, sharers,
preferences, notes
● Search for a reservation by last name, first name, group name or confirmation number all
from a single search
● Override standard room rates/packages with appropriate authority
 ● Special guest requests including for a specific room, adjoining rooms, same floor rooms
● Late arrival/checkin, early checkin, late checkout (with option to charge extra)
● Extra bed/cot
● Group reservations (multiple rooms under one name/bill).
● Record name & room number of group leader
● Inquiry on guests scheduled to arrive/depart on a specific date
● Sources of business/travel agent codes and information (for calculation of and payment of
commission)
● Collection of deposits for room reservations
● Reservation confirmations by email or fax

Online Bookings

● Integrated Web Booking module for the Hotel website

● Enter start/end stay dates and room selection
● View real time room availability and price
● Real time confirmation of booking to customer
● Offer Multiple Rates & Packages based on stay dates
● Single & Multiple room bookings with policy based deposits & Guarantees
● Automatic creation of Guest account, enabling them to edit their reservation or book a new
one
● Automatic confirmation email with booking details and policies
● TripConnect Instant Booking and Review Express Connect
● Link to sell available rooms via GDS/IDS
● Channel Management interface like Vertical Booking/SiteMinder to sell rooms via
Expedia.com, Hotels.com and other OTAs

Check-in

● Automatic allocation of rooms to guests on check-in for maximum yield and optimal usage of
Room Inventory
● Accept and post room deposits/key money
● Print guest check-in card (option to do so in bulk in advance)
● Multiple guest names and sharers per room
● Cancel Check-ins (before Night Audit)
● Group check-ins
● Negotiated room rate (with appropriate authority)
● Extending stays
● Direct Interface with online Credit Card payments
● Secure web based credit card processing
● Automatic allocation of breakfasts/meals and other add-on services for inclusive rates

Check-out

● Account/invoice printing with multiple splits & routings

 ● Late check out with option to extra charge
● Free format reminder feature for front desk clerk (coming soon)
● Combine and share bills between Room Sharers and Group Rooms
● Move charges between accounts and room bills.
● Point and click to void or transfer guest transactions
● Reinstate checked-out rooms (before Night Audit)
● Group check-outs
● Forms of payment including cheques, traveler’s cheques, debit and credit cards, bill to
company
● Recording of a reference number for non cash payments (cheque number, authorization
code etc)
● Direct Interface with Credit Card Payments
● Secure web based credit card processing
● Payment in multiple currencies
● Cash counter support
● Receipt printing
● Guest accounts
● Automatic posting of room charges overnight
● Suppression/reversal of auto room charges and then manual posting
● Automatic invoice to corporate accounts (when due or monthly)

Supplementary Hotel Services

● POS system for café, convenience store, laundry, tours, travel desk etc
● POS system enables staff to accept cash sales or to post charges to the room
● POS fully integrated into guest accounts, and sales
● POS with touchscreen support and online credit card processing
● Charge additionally phone calls, movies, broadband internet etc to the guest’s account
● Can be used with almost all PABX or PBX systems (Optional) worldwide.
● Guest messages with delivery confirmations
● Task Management between departments and POS
● Process Credit Cards Throughout the System (Paypal, Authorize.net etc) - Virtual Payment
Terminal

Conference Booking & Management (Coming Soon)

● Sell and manage tours including ticket sales and space available.
● Sell and manage use of meeting/reception rooms in partial hour or hourly increments
● Meeting/reception room bookings. Numbers of participants, seating and table configurations
● Projector/screen/PC hire
● Provision of refreshments for meetings/receptions
● Meeting/reception room charges and billing

Financial and Business Reports

A Daily report & Monthly summary that shows

● Prior day, current month to date and current year to date

● By cost centre (rooms, phone, internet, café, convenience store, laundry, tours (POS
assisted))
● House count
● Statistical history and forecast
● Detailed up-to-the-minute House Status
● Rooms availability
● Occupancy %
● Reservations, checkins, checkouts
● Average guest stay duration
● Total room revenue; Average room rate, RevPar
● Balances by not due, due, overdue and total
● Collections by payment method (cash, cheque, MC, Visa etc) & total
● No shows, cancellations
● Rate variations & discounts
● Travel agent commission
●
● Detailed charge & payment journal
●
○ Guest bills and receipts
○ Corporate Direct Billing Ledger and Ageing

Housekeeping

● List of today’s check-ins, checkouts, occupied and vacancies including any repair or
maintenance notes
● Room status: dirty, clean, inspected, under repair
● Manage room status from the housekeeping area.
● Front desk staff can see real time room updated status
● Housekeeper to front desk communications
● Maid assignment to rooms
● Report of assignments
● Daily task lists for housekeepers
● Recording and reporting of defects, repairs & maintenance
● Recording that defects have been remedied, repairs and maintenance undertaken

Hotel Administration

● Aids to revenue management, forecasting, marketing, campaign management (coming soon)

● Promotional mail or email campaigns (coming soon)
● Report of guests scheduled to arrive/depart on a specific date
● Forecast for Inclusions based on occupancy
 ● Staff training aids
● Internal messaging system

Accounting

● General ledger
● Profit/cost centres
● Automatic direct billing from front desk
● Printing and mailing of room/monthly guest bills to companies. Statement print/email with
past due messages.
● Ability to flag accounts due for payments or payment delays
● Vendor details (mail and email addresses, phone numbers, contact names, products, prices
etc)
● Accounts payable
● Contract/subscription recurrent payables
● Cash requirements forecasting (coming soon)
● Accounts receivable
● Aged debtors
● Provisions for bad debts
● Payment of Travel Agent commission
● Audit trails (who changed, what and when)