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TYPES OF GUEST FOLIOS

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GIRISH K
GIRISH K

This document discusses different types of folios used in hotel front offices to record guest transactions. It describes guest folios, which are created for individual guests to track charges and payments. Master folios contain information for an entire group. Non-guest and employee folios track transactions for non-residents and staff. Split folios allow guests to separate business and personal expenses. Folios begin with a zero balance and aim to return to zero upon checkout after recording all credits and debits.

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FRONT OFFICE ASSISTANT TYPES OF FOLIOS
FOLIOS ? A folio is a statement of all transaction that has taken place in a single account. ? It is a written record of guest account and is created at the time of starting book of accounting the name of a guest. ? The front office cashiers records all the transactions between the guest and the hotel on the folio. ? The folio is opened with zero initial balance. ? The balance in the folio then increases or decreases depending upon the transactions. ? At the time of check-out, the folio balance must return to zero on settlement of payment ie it begins with a ZERO balance and ends with the SAME. ? In between, the balance may be debit or credit depending upon the type of transactions.
Types of Folios ¨CGuest Folio ¨CMaster Folio ¨CNon-guest Folio ¨CEmployee Folio ¨CSplit folio
Guest Folio : Assigned to charge for individual guests. It is created for each guest as soon as the first financial transaction take place between the hotel and the guest. generally a folio is created at the time of registration or sometimes at the time of reservation it is open to post in the credit side the advance payment given by the guest as a token to guarantee his reservation.
TYPES OF GUEST FOLIOS
Master Folio: Assigned charge for more than one person, usually for Group Accounts./organization i.e. it contains account for more than one guest more common for the entire group master folio is prepared. In small hotels a master folio contains the financial details of all the guest staying in the hotel and by seeing through it one can easily find the net credit or debit balance for the day.
TYPES OF GUEST FOLIOS
Split Folios ¨C Accounts assigned to a guest on his/her request to split his/her charges and payments between two personal folios ¨C one to record expenses to be paid by the sponsoring business company and the other to record personal expenses to be paid by the guest.
Non-guest Folio: Assigned for non-resident guest. It is also called as city folio, it contain the financial transactions between a hotel and its nonresident guest. A hotel may offer credit facility to local businessman; corporate and even city folio is created for that nonresident s guest who avails the club facilities, health centre, sport centre etc facilities offered by the hotel
TYPES OF GUEST FOLIOS
Employee Folio: Assigned for hotel employee, his folio contains the credit transactions between hotel and its employees. The folio is created and maintain for employees to whom the hotel has permitted credit facilities, and the amount is later collected from the employees or deducted from their salaries as per the hotels policy.
TYPES OF GUEST FOLIOS
Postings in Folios: The process of recording the entries on the folio is called ?Posting¡® of transactions. There are two basic types of postings: Credit: They reduce the guest¡®s outstanding balance. These entries include complete or partial payment, or adjustments against tokens. Debit: They increase the outstanding balance in the guest account. Debit entries include charges under restaurant, room-service, health center/spa, laundry, telephone, and transportation.

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TYPES OF GUEST FOLIOS

  • 2. FOLIOS ? A folio is a statement of all transaction that has taken place in a single account. ? It is a written record of guest account and is created at the time of starting book of accounting the name of a guest. ? The front office cashiers records all the transactions between the guest and the hotel on the folio. ? The folio is opened with zero initial balance. ? The balance in the folio then increases or decreases depending upon the transactions. ? At the time of check-out, the folio balance must return to zero on settlement of payment ie it begins with a ZERO balance and ends with the SAME. ? In between, the balance may be debit or credit depending upon the type of transactions.
  • 3. Types of Folios ¨CGuest Folio ¨CMaster Folio ¨CNon-guest Folio ¨CEmployee Folio ¨CSplit folio
  • 4. Guest Folio : Assigned to charge for individual guests. It is created for each guest as soon as the first financial transaction take place between the hotel and the guest. generally a folio is created at the time of registration or sometimes at the time of reservation it is open to post in the credit side the advance payment given by the guest as a token to guarantee his reservation.
  • 6. Master Folio: Assigned charge for more than one person, usually for Group Accounts./organization i.e. it contains account for more than one guest more common for the entire group master folio is prepared. In small hotels a master folio contains the financial details of all the guest staying in the hotel and by seeing through it one can easily find the net credit or debit balance for the day.
  • 8. Split Folios ¨C Accounts assigned to a guest on his/her request to split his/her charges and payments between two personal folios ¨C one to record expenses to be paid by the sponsoring business company and the other to record personal expenses to be paid by the guest.
  • 9. Non-guest Folio: Assigned for non-resident guest. It is also called as city folio, it contain the financial transactions between a hotel and its nonresident guest. A hotel may offer credit facility to local businessman; corporate and even city folio is created for that nonresident s guest who avails the club facilities, health centre, sport centre etc facilities offered by the hotel
  • 11. Employee Folio: Assigned for hotel employee, his folio contains the credit transactions between hotel and its employees. The folio is created and maintain for employees to whom the hotel has permitted credit facilities, and the amount is later collected from the employees or deducted from their salaries as per the hotels policy.
  • 13. Postings in Folios: The process of recording the entries on the folio is called ?Posting¡® of transactions. There are two basic types of postings: Credit: They reduce the guest¡®s outstanding balance. These entries include complete or partial payment, or adjustments against tokens. Debit: They increase the outstanding balance in the guest account. Debit entries include charges under restaurant, room-service, health center/spa, laundry, telephone, and transportation.