What is Folio in hospitality industry ?

Last / Next  2009-05-29 00:47:33

This is an account statement upon which guest
transactions (charges or payments) that affect the
balance of the guest’s account are recorded.
There are four types of folios:
  Guest folio – accounts assigned to individual persons
or guestrooms
  Master folio – accounts assigned to more than
one person or guestroom; usually reserved for
group accounts
  Non-guest or semi-permanent folio – accounts
assigned to non-guest businesses or agencies
with hotel charge purchase privileges
  Employee folio – accounts assigned to employees
with charge purchase privileges.
Guest folios can also be ‘split’ for, e.g., a business
guest who is getting their accommodation expenses
paid. Room and tax charges can be posted to the
room folio (A folio) and other charges can be
posted to the incidental folio (B folio).
The accurate and timely processing of all
these accounts assists the front office manager in
maintaining hard copies of guests’ financial
transactions with the hotel. These accounts are
collectively referred to as the hotel’s accounts
receivable – what guests owe the hotel. The
accounts receivable consist of two categories, the
guest ledger and the city ledger.

TAG: Hospitality hospitality HOSPITALITY Industry industry INDUSTRY Folio

Quote Delete Guest   /   2010-05-04 01:53:10
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