1. D1.HFO.CL2.05D1.HFI.CL8.07 D1.HFA.CL7.01D2.TCC.CL1.12 Slide 1

2. Introduction Process Financial Sales Transactions:  Classroom schedule  Trainer contact details  Resources you will need: Calculator Pen and Paper  Assessments. Slide 2

3. Introduction Ice breaker:  What is your name?  Where do you live?  Why are you doing this course?  Do you work in the Hospitality or Tourism industry or why do you want to work in either of these industries? Slide 3

4. Introduction Financial sales transactions:  Definition Monetary dealings between a business and customers, guests or clients  Hospitality and Tourism examples: Restaurant Hotel Tour operator. Slide 4

5. Introduction CashRevenue Slide 5

6. Security Potential for high volume of cash collected in a day or shift:  Authorisation: Can you think of examples?  Procedures on processing financial sales transactions: Can you list some procedures?  Point of sale systems: What are the options? Slide 6

7. Slide 7 Text in here Processing financial sales transactions Process Prepare Reconcile

8. Prepare point of sale area for operation  What is the Point of Sale area? Examples  Opening the point of sale area: Timing Authorisation Responsibility. Slide 8

9. Prepare point of sale area for operation The Cash Float:  What is it?  Who is issued the cash float?  Counting the cash float. Slide 9

10. Prepare point of sale area for operation Check supplies:  Adequate change Denominations of notes and coins  Documentation What do you need in a point of sale area? What do you need at a point of sale terminal or register? Slide 10

11. Prepare point of sale area for operation Clean and tidy Point of Sale area:  Customer impressions Last point of contact  At the start of the day  During the shift  At the end of the day. Slide 11

12. Prepare point of sale area for operation Activities 1. In small groups, draw a diagram of a Point of Sale area: In a restaurant At a hotel reception desk. 2. In pairs or groups of three, simulate the float collection procedures. Slide 12

13. Slide 13 Text in here Processing financial sales transactions Process Prepare Reconcile

14. Process payments and receipts Cash Revenue Slide 14

15. Process payments and receipts Customer service skills  Customer service standards: Why? Examples  Working in pairs: What personal characteristics do you need? Discuss customer service issues that may arise and skills you need to resolve them. Slide 15

16. Process payments and receipts Slide 16 Make payment Collate appropriate documentation Store securely Calculate or verify amount due

17. Process payments and receipts Calculate or verify amounts due:  Managing customers’ expectations  Collecting sales information  Confirming amounts due Reviewing the bill Resolving discrepancies. Slide 17

18. Process payments and receipts Calculate or verify amounts due:  Activity: What should you look for when reviewing the customer’s bill? What sort of discrepancies may you need to resolve and how would you resolve them? Slide 18

19. Process payments and receipts Make payment with cash:  Cash is defined as: Notes and coins in local currency  Safeguard cash at all times  Confirm amount received  Issue receipt. What can go wrong? Slide 19

20. Slide 20 Process payments and receipts Customer gives you incorrect amount Recount in front of customer

21. Slide 21 Process payments and receipts Confusion over the amount paid Confirm amount tendered when passed to you

22. Slide 2222 Process payments and receipts Mistakes with change given Count out change into customer’s hands

23. Process payments and receipts Non cash payments:  What are they?  Safeguarding documentation  Common types of transactions  Processing common transactions  Issue receipt. Slide 23

24. Slide 24 Add Your Title Financial sale transaction processed Documentation collected Information sent to Accounts Department REVENUE Collate documentation The audit or paper trail Process payments and receipts

25. Store securely  Why? Safeguard cash Safeguard documentation  How? Forms of secure storage  When? Organisational guidelines Experience. Slide 25

26. Process payments and receipts Cash skims OR “Clearing the cash drawer”:  Count notes, coins and non cash payments  Complete documentation  Secure storage. Activity Slide 26

27. Process payments and receipts Other transactions that may occur in a day’s trading:  Advanced payments Sometimes called “deposits” Unique code Receipt issued Tourism and Hospitality examples. Slide 27

28. Process payments and receipts Other transactions that may occur in a day’s trading:  Refunds What are they and why do they occur? Authorisation Documentation Customer service paramount. Slide 28

29. Process payments and receipts Other transactions that may occur in a day’s trading Issuing cash internally:  Payments to suppliers Check authorisations Review documentation Complete internal documentation and follow cash handling procedures. Slide 29

30. Process payments and receipts Other transactions that may occur in a day’s trading Issuing cash internally:  Reimbursements: Internal requests for cash Ensure valid and reliable documentation  Disbursements: Cash request on behalf of a guest or client Most common in hotels Complete and keep appropriate documentation. Slide 30

31. Processing financial sales transactions Slide 31 PrepareProcess Reconcile

32. Reconcile financial transactions at end of day  Close and secure point of sale area  Print system totals  Count takings  Balance (or reconcile) takings  Complete documentation. Slide 32

33. Reconcile financial transactions at end of day Close and secure point of sale area:  Physically secure the point of sale area: Locked doors Security screens  Secure the cash drawer: Security codes or identification required At or away from the point of sale area. Remember that you are still responsible for cash Slide 33

34. Reconcile financial transactions at end of day Register or Terminal reading:  Summary reading: “X” total Does not “zero” system  Final reading: “Z” total Point of sale system “re-set” for next day or shift. Slide 34

35. Reconcile financial transactions at end of day Count contents Summary sheet Slide 35 Date & Time Location Location code Notes & coins Cheques Bank cards Accounts Vouchers Other Total Cash counted Signature

36. Reconcile financial transactions at end of day Count contents:  Counting notes and coins: Always according to bank requirements Group same denominations together Complete summary sheet  Counting non cash payments and other transactions: Group “like” payments together Complete summary sheet. Slide 36

37. Reconcile financial transactions at end of day Point of sale system reading Contents of the cash drawer Slide 37 Balancing the takings

38. Reconcile financial transactions at end of day The takings do not balance, what next?  Check arithmetic and calculations on Summary Sheet  Recount cash and check totals of non cash transactions  Is discrepancy outside acceptable limits? No – Record on Summary sheet Yes – Investigate! Slide 38

39. Reconcile financial transactions at end of day Investigating discrepancies:  Incorrect amounts entered into the Point of Sale system: Human error Incorrect sale item Other incorrect details. Slide 39

40. Reconcile financial transactions at end of day Investigating discrepancies:  Incomplete documentation: Cash drawer less than the register readings Check with other staff Check register tape. Unresolved discrepancy – report to Manager Slide 40

41. Reconcile financial transactions at end of day Activity 1. The final reading from the point of sale system is 1,000.00 yet your cash summary sheet totals 990.00: Is this a discrepancy that requires investigation? What will you do first should you attempt to resolve the discrepancy? What else might you do given the nature of this discrepancy? Slide 41

42. Reconcile financial transactions at end of day Complete and forward documentation and takings:  The audit or paper trail again! Summary sheet All non-cash paperwork  Separate float: Return to secure storage  Forward takings and documentation to secure area. Slide 42