User:MacDorre Ejikemenwachukwu

Accounting for Hotel Business takes the format of accounts prepared for clubs and other related businesses. However, topics like Accounts receivable, payable, advance deposit, reservations, prepaid for laundry services, bar, and meal tickets etc are duly taken into accounts when discussing this subject.

Bookkeeping: This is the art of recording all hotel business transactions in a systematic manner, so that the prepared or written up books of account will show at any time the exact state of the financial situation, and whether the hotel business has made a profit or incurred a deficit.

ACCOUNTING: When preparing the accounts of a hotel, one should endeavour to input such areas that deal with the users of hotel services - reservation against an advance date, room charges, breakfast, dinner and lunch, tea break, cost of extra services and games which are revenue generating.

How goods are procured and taken into stock before assigned out for customer use. Stock of goods available plus current purchases equals goods available. When this is set against the left over stock we have cost of goods sold to generate the revenue for the period.