POLICYANDPROCEDUREMANUAL

SOPNO:ACCTGAR0061215
DEPARTMENT: ACCOUNTINGSUBSECTION:ACCOUNTSRECEIVABLE
SUBJECT:
CREDITMEETINGSISSUEDATE:DECEMBER9,2015

POLICY:Eachhotelwillhaveacreditmeetingoncepermonth,ormorefrequentlyifthepercentageof
accountsover60daysexceedsthecompanystandardof10%.

PROCEDURE:
ThecreditmeetingwillbeledbytheDirectorofAccountingandtheGeneralManager.In
attendancewillbetheAssistantGeneralManager,CreditManager/ARClerk,DirectorofSales,
SalesManagers,DirectorofCatering,CateringManagers,andFrontOfficeManager,oranyone
elsewhoisresponsibleforanoutstandingaccount60daysorolder.

Anagendawillbepreparedtoreviewthefollowing:
o GuestLedger,includinghouseandpermanentaccounts
o CityLedgeraccountsover60days,includinganyupdatesonaccountsdiscussedatthe
lastmeetingand/orreportedonthemostrecentA/RSummaryReport,submittedtothe
CorporateOffice.
o CityLedgeraccountsover30dayswithpotentialissues
o AdvancedDepositreview
o ReturnedChecks,Unbillableitems,Chargebacks
o CreditStatusforupcomingeventsinthenext30days.WhatistheirMethodof
Payment?
o Actionplansasnecessarytoavoidrecurrenceofcreditproblems

Collectionassistanceneededbyanaccountssalesmanagerorotherdepartmentmanagerswill
besolicitedwhennormalcollectioneffortshavenotbeeneffective.Thisisrequiredtoensure
timelycollection,whilemaintainingapositiverelationshipwiththecustomer.

Anyaccountsbeingrecommendedforwriteoffapprovalwillbereviewedbythecommittee.

Minutesofthemeetingwillbepreparedandwillbecirculatedtoallmeetingattendees,andkept
onfileinaseparatebinder,aswellasacopysubmittedwiththemonthlyA/RSummaryReport
duetotheCorporateOffice(ACCTGAR003).