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Finance ( Audit, Control & Reporting

Jireh Hospitality provides centralised accounting services for hotel clients resulting in lower administrative payroll costs to the hotel and more accurate, informative and timely financial information. The central accounting office closely monitors daily accounting reports, supervises payroll processing, prepares monthly bank reconciliations, files sales and user tax returns, pays most invoices, and manages hotel cash.

JHL can assist in the setting and subsequent monitoring of meaningful cost control measures. Payroll is analysed daily, energy costs controlled, preventive maintenance programs are established, and an extensive Policy and Procedures Manual is utilised by property management.

 

To ensure both a high degree of operating efficiency and administrative accuracy an audit is conducted no less than twice a year. In addition to a thorough inspection of the physical property, the audit consists of a complete examination of the hotel's cash handling and reporting methods, the accuracy of daily reports, and analysis of payables and receivables, a check of all employment records, and a detailed review of all front office and administrative procedures.

 

Both monthly and quarterly reports are prepared for ownership. These reports include an analysis of present, past and projected performance. The monthly financial statements include balance sheets, cash flow statements and income statements.

 

A quarterly report is prepared to show and explain deviations in the income statement from the budget, personnel changes, market conditions, sales updates and capital improvement expenditures.