Summary
This position is responsible for the entire credit granting process, bill collection, including the consistent application of a credit policy. Conducts periodic credit reviews of existing customers, and the assessment of the credit worthiness of potential customers, with the goal of optimizing the mix of company sales and bad debt losses.
Job Responsibilities
Credit applications:
· Process credit applications within 10 working days, ensuring that clients are notified promptly and professionally. The credit worthiness of all applicants is formally checked and approval must be received from the Director of Finance.
· Review the credit worthiness of all existing non-Accor approved clients on a yearly basis.
City Ledger:
· Ensure all invoices / statements are issued on a timely basis.
· Monitor the prompt follow-up of all overdue accounts and minimize the recovery delay.
· Monitors the special billing arrangements for groups and conventions as required to ensure that postings are in line with customer requirements.
· Monitor and pursue collection of overdue accounts.
· Review city ledger daily for correct postings of charges and take corrective action where necessary.
· Review bad debts listing monthly to prepare collectability analysis for monthly provision for doubtful debts.
· Respond to and resolve account queries in conjunction with accounts receivable.
· Review provision, write-offs and other adjustments immediately prior to month end.
· Implement effective inquiry response procedure for guests and management.
· Ensure all travel agent commissions are timely processed and paid.
· Report on monthly accounts receivable ageing analysis and detailed accounts’ ledgers.
· Conduct credit meetings at least once a month, with relevant highlighting monthly performance, bad debts, staff accounts outstanding and discuss any accounts causing concern and follow up.
· Attend Credit Managers meetings to keep up to date knowledge of credit risks.
· Appropriately manage all delinquent accounts, liaising with debt collectors where needed.
· Review and recommend accounts to be written off, providing appropriate documentation.
Guest Ledger and liaison with Front Office:
· Liaise between the Finance Department and the Front Office.
· Ensure PX and PM accounts are checked on daily basis and transferred to city ledger within 48hrs from the departure date.
· Review the Advance Deposit ledger to ensure all the balances are either current or for future date.
· Inform the Front Office Manager of any deviations from policy by Duty Managers, or Front Office Agents that may come to his/ her attention.
· Ensure guest refunds are processed in a timely manner as per the hotel policy; with all supporting paperwork and required authorizations.
Commercial Responsibilities
· To keep closed contact with hotel debtors i.e. Travel Agents, Airlines, Corporate clients and Individuals.
