Hotel Financial Controller (FC)
Hotel Financial Controllers (sometimes also called Controllers or Chief Accountant) are responsible for the effective and efficient administration of the financial data produced daily in the hotel.
This Excom (Executive Committee) member is responsible for organizing the collection and compilation of operating statistics, and provides financial insight into the operations of the property, including cash flow, valuation and analysis of costs, investment opportunities or banking procedures.
The Finance (or Accounting) department processes:
- Account payable (money the hotel owes to suppliers)
- Accounts receivable (money owed to the hotel by guests)
- The general ledger (a collection of accounts that the comptroller uses to organize the financial activities of the hotel)
- Cash flow statement (a projection of revenue from the hotel’s revenue-generating areas)
- The profit and loss statement (a list of income and expenses for a certain period)
- The balance sheet (a listing of the hotel’s financial condition at any given time)