Not only does Evention simplify cash/dueback management and gratuity distribution on a daily basis, but the application can also be leveraged by accounting at month’s end to dramatically simplify the end of month process. This page highlights some of the methods utilized by hotel accounting to reduce time spent with month end closing.

Evention SecureDrop – Month End Processing

Cash Deposits, Cash Clearing, and Cash Variance by Day or by Month

Depending on the process and general ledger setup for a property, it may be required to view the cash clearing report for an entire month. Evention allows accounting to simply run a report over any date range so that the total deposit (cash, checks, travelers checks, foreign currency, telechecks, etc.), duebacks, cash clearing, and cash variance can be reported for each department by day or by month.

Over/Short Totals by Month

In many cases, it is required to record the total variance (over/short) by day or by employee as part of closing the month. Evention allows accounting to do this with ease by simply running the Over/Short Report for the entire month and then by specifying a 1 cent threshold. All variances are immediately available for month-end reporting.

Unpaid Dueback Reporting and Posting to the General Ledger

Dueback tracking is another common headache at month’s end. In many cases, the total “unpaid” duebacks must be posted to the General Ledger and a corresponding record detailing the employees owed money must be archived. Evention makes this dueback reporting instantaneous by allowing accounting to run a Dueback report and simply filter to the status required for reporting. In fact, the manual archiving can be eliminated as the Evention reports are available for complete historical reporting.

Human Resources – Accountability for Over/Short Violation Management

Not only is accounting responsible for managing the tracking of the cash variances and over/shorts. When cash violations come into play, human resources typically plays a key role. However, the management of these violations can be extremely challenging as communication is required between accounting, outlet managers, and human resources. Evention SecureDrop dramatically simplifies this process by allowing each department to manage each employee's report while also providing comprehensive reporting that allows quick reconciliation.

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Evention Tips & Gratuities - Month End Processing

Posting Unpaid Gratuity Liability

Evention ensures accurate gratuity payroll each pay period, but a common scenario may exist in which an incomplete pay period may still be “open” at end of month. For example, for a weekly pay period starting Sunday, August 28^th, 2011, three days still remain before it closes on September 3, 2011. A controller could simply run the Evention Gratuity versus Revenue report for the last four days of August to determine the total unpaid payroll liability at month’s end.

Determine Amount of Service Charge to Post to “House”

In addition to employee payroll, it is very common for the house to receive a share of the service charge. To determine the “house gratuity share”, accounting can simply run the Evention Gratuity versus Revenue Report for the entire month. The “Service Charge Margin” column provides an instantaneous result for the total amount of service charge “paid” to the house.

Evention strives to simplify every aspect of the management related to gratuity payroll, cash management, and banquet scheduling. If you have any month’s end or other tips to share with the Evention team, please let your Evention account representative know. We greatly appreciate all of our customers’ feedback!