All charges must be posted to ledgers set up by the manager. There are five default ledgers which cannot be altered: room rent, telephone, non-taxed miscellaneous, taxable merchandise and escrow. Other ledgers with individually specified tax rates may be set up at any time. There can be a total of 999 ledgers shared by up to 9 cash drawers. Each ledger is assigned to one cash drawer and cannot be accessed by any other cash drawer. The exception is that any cash drawer can post charges from any ledger to a currently occupied room. Each cash drawer will keep a separate running cash total.
For LodgeWright with call accounting telephone charges are handled automatically with the telephone ledger by specifying the number called, the length of the call, and the time of day of the call.
SHIFT AND NIGHT AUDITS
The Shift Audit (by cash drawer)
The Night Audit
There are trial audits for both the shift and night audits to allow clerks to balance cash drawers and auditors to correct mistakes and balance before closing.
MONTHLY AND YEARLY REPORTS
There are seven monthly and yearly accounting categories which appear in accounting reports for those periods:
Totals tracked in Cash, Room Check Out, and Accounts Receivable audits are:
for Taxable Guests
Tax on Room Rent
Tax on Merchandise
and for Tax Exempt Guests
In postings to Accounts Payable:
In payments to Accounts Payable:
In the Payroll Summary Report:
|Gross Payroll (total of all base pay)|
|Total of Extra Withheld Amounts|
|Total of Tips Reported|
|Social Security Withheld|
|State Income Taxes Withheld|
|Federal Income Taxes Withheld|
|Net Payroll (total of all checks)|
|Employer Social Security Liability|
|Employer Unemployment Compensation Liability|
Monthly reports contain cumulative totals for each category, with an option to print an itemized daily summary for each category whenever a monthly report is run. Yearly reports contain the yearly cumulative totals for each category, with an option to print an itemized monthly summary for each of the seven categories. Both reports integrate this information into profit and loss statements for the period.
The monthly and yearly reports also include a "rooms rented" summary, which shows the activity of each room for the period, and a ledger postings summary, which shows the cumulative totals posted to each cash ledger.
ACCOUNTS RECEIVABLE, PAYABLE AND PAYROLL
In addition to the integrated accounting reports there are many specialized reports available on accounts receivable, accounts payable and payroll.