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Financial Handling
This topic describes how OPERA handles certain financial transactions on the trial balance. The following transactions are examined:
OPERA tracks currency exchange using a single transaction code which is set by the Cashiering Application Parameter CURRENCY_EXG_PAIDOUT.
All transactions on the trial balance are reported in the local currency of the hotel.
The following example shows the trial balance for an exchange of Australian $100 to local US $50.51.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
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Balance For |
04-JUL-02 |
196.00 |
0.00 |
0.00 |
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|
0.00 |
0.00 |
196.00 |
196.00 |
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Debit |
Credit |
Debit |
Credit |
8503 |
Currency Ex. |
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|
50.51 |
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3000 |
Cash |
0.00 |
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|
50.51 |
Total |
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0.00 |
0.00 |
0.00 |
50.51 |
50.51 |
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|
0.00 |
0.00 |
246.51 |
246.51 |
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196.00 |
0.00 |
0.00 |
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A debit (paid out) is posted to 8503 - Currency Exchange, and a credit is posted to 9000 Cash for the local equivalent value of the Australian dollars received. The net result in the Guest Ledger is zero, with the balance of the Guest Ledger unaffected by this transaction. Local currency is paid out to the guest and foreign currency is received in. There is no change to the ledger balance.
Check exchange tracking uses the same principal as currency exchange. A single transaction code is set by Cashiering Application Parameter CHECK_EXG_PAIDOUT. The Cashiering Application Parameter CHECK_TRXCODE identifies the check payment method against which the credit will be posted.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
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Balance For |
06-JUL- 02 |
1,196.00 |
0.00 |
0.00 |
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|
0.00 |
0.00 |
246.51 |
246.51 |
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Debit |
Credit |
Debit |
Credit |
8504 |
Check Ex. |
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200.00 |
|
9010 |
Check |
0.00 |
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|
|
200.00 |
Total |
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0.00 |
0.00 |
0.00 |
200.00 |
200.00 |
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|
0.00 |
0.00 |
446.51 |
446.51 |
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1,196.00 |
0.00 |
0.00 |
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A debit (paid out) is posted to 8504 - Check Exchange, and a credit is posted to 9010 Check.
AR Ledger payment (sometimes called direct bill payment) is used to transfer a Guest Ledger invoice amount to the property's AR Ledger. The AR Ledger is used for companies, agents, or individuals who request charge back to a credit account they have established with the property for payment at a later date. Invoices transferred (at check out time) to the AR Ledger then age until payment is received and applied against the invoice within AR.
The AR Ledger payment method is controlled by the Cashiering Application Parameter AR_SETTLE_CODE.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
Pkg Ledger |
AR Ledger |
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Balance For |
03-JUL- 02 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
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1000 |
Accommodation |
90.91 |
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100.00 |
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2101 |
Food |
47.62 |
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60.00 |
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2102 |
Beverage |
19.09 |
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20.00 |
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2600 |
Minibar |
23.81 |
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25.00 |
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3100 |
Local Call |
1.00 |
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1.00 |
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8100 |
Federal Tax |
10.00 |
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8150 |
State Tax |
2.72 |
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9003 |
Direct Bill |
0.00 |
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196.00 |
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196.00 |
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Total |
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196.00 |
0.00 |
0.00 |
196.00 |
196.00 |
0.00 |
0.00 |
196.00 |
0.00 |
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0.00 |
0.00 |
196.00 |
196.00 |
0.00 |
0.00 |
196.00 |
0.00 |
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196.00 |
0.00 |
0.00 |
0.00 |
196.00 |
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In this example, 9003 - Direct Bill is used to pay invoices of $100 and $96.
Direct bill payment is recorded as a credit to the Guest Ledger and reduces the General Ledger balance by the amount paid. A corresponding debit is posted to the AR Ledger, increasing the balance of the AR Ledger by an equal amount.
Deposit payments are used to post deposits received from reserved guests who are due to arrive on a future date. The payment method used to receive the deposit amount is posted directly to the Deposit Ledger.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
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Balance For |
07-JUL- 02 |
1,196.00 |
0.00 |
0.00 |
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0.00 |
0.00 |
446.51 |
446.51 |
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Debit |
Credit |
Debit |
Credit |
9000 |
Cash |
0.00 |
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300.00 |
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Total |
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0.00 |
0.00 |
300.00 |
0.00 |
0.00 |
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0.00 |
300.00 |
446.51 |
446.51 |
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1,196.00 |
-300.00 |
0.00 |
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The Deposit Ledger credit balance is increased by the amount of the deposit payment.
Note: The balance of the Deposit Ledger is regarded as a liability by the property on the profit and loss statement.
When a reserved guest who has made a deposit payment checks in, the credit balance reported on the Deposit Ledger is transferred to the Guest Ledger. OPERA uses an internal transaction code controlled by the Cashiering Application Parameter DEPOSIT_LED_TRX_CODE for this purpose.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
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Balance For |
08- JUL-02 |
1,196.00 |
-300.00 |
0.00 |
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0.00 |
300.00 |
446.51 |
446.51 |
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Debit |
Credit |
Debit |
Credit |
1000 |
Accommodation |
300.00 |
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|
300.00 |
|
8100 |
Federal Tax |
21.00 |
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21.00 |
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8150 |
State Tax |
9.00 |
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9.00 |
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9890 |
T/F Deposit |
0.00 |
300.00 |
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300.00 |
Total |
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330.00 |
300.00 |
00.00 |
330.00 |
300.00 |
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300.00 |
300.00 |
776.51 |
746.51 |
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1,526.00 |
0.00 |
30.00 |
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For each reservation checked in, a debit posting is made to the Deposit Ledger for the deposit amount that was paid toward the reservation (in this example, $300). This action reduces the credit balance of the Deposit Ledger by an equal amount. A corresponding credit using the same transaction code is posted to the Guest Ledger, thereby reducing the debit balance of the Guest Ledger by the same amount.
In the example, the Guest Ledger also contains the $300 room and tax charges posted during Night Audit, resulting in a closing balance of $30 on the Guest Ledger (10% goods and services tax).
The following trial balance shows the payment of $1,000 on an open balance invoice in AR.
Trn. Code |
Description |
Net Amount |
Deposit Ledger |
Guest Ledger |
Pkg Ledger |
AR Ledger |
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Balance For |
09-JUL- 02 |
1,526.00 |
0.00 |
30.00 |
0.00 |
1,196.00 |
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300.00 |
300.00 |
776.51 |
746.51 |
0.00 |
0.00 |
1,196.00 |
0.00 |
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Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
9000 |
Cash |
0.00 |
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30.00 |
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1,000.00 |
Total |
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0.00 |
0.00 |
0.00 |
0.00 |
30.00 |
0.00 |
0.00 |
0.00 |
1,000.00 |
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300.00 |
300.00 |
776.51 |
776.51 |
0.00 |
0.00 |
1,196.00 |
1,000.00 |
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1,526.00 |
0.00 |
0.00 |
0.00 |
196.00 |
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Payment of an AR invoice is reported directly in the AR Ledger as a credit against the payment method used. The opening balance of the AR Ledger is reduced by the payment amount posted.
Posting charges directly to an AR results in the balance of the AR Ledger increasing accordingly.
Trn. Code |
Description |
Net Amount |
AR Ledger |
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Balance For |
14-JUL-02 |
0.00 |
0.00 |
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0.00 |
0.00 |
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Debit |
Credit |
1000 |
Accommodation |
|
100.00 |
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Food |
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20.00 |
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Currency Exch |
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Cash |
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Direct Bill |
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Check |
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Total |
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420.00 |
120.00 |
00.00 |
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120.00 |
00.00 |
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420.00 |
120.00 |
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Revenue is reported directly in the AR Ledger and the closing balance increases by the amount of the invoice.
See Also
