Job Overview: The Finance Manager is responsible in the day-to-day finance operations and is primarily responsible for computing, recording, collecting, analyzing, and verifying numerical data for use in maintaining accounting records of the financial operations of the hotel. The Assistant Finance Manager will also recommend and maintain a system of policies and procedures that impose an adequate level of control over Finance Department activities.
Key Responsibilities:
Support in representing the finance department on the daily department heads meeting with the general manager.
Ensure that the guests have best possible experience by trouble-shooting and resolving all billing related disputes.
Support the budgeting, forecasting, and financial planning processes aligned with hotel operational goals
Ensure timely and accurate month-end and year-end close processes
Prepare regular reports and summaries of accounting activities
Manage all phases of Accounts Payable, Receivable, General Ledger and Department budget
Prepare financial statements and debtors listings
Verify recorded transactions and report irregularities to management
Provide direction to the night audit team so as to ensure proper revenue reporting
Review all ledger details guest ledger, city ledger and deposit ledgers to validate proper payment and revenue posting
Coordinate with the PMS team on any imbalance or difference found on the ledger
Review the postings, payments, revenue and guest balance reports on a daily basis
Ensure correct taxation are applied on all billing software like Property Management Systems (PMS), Point of Sale (POS) and SPA software's
Ensure that all statutory details (PAN, TAX No, Company Registration No. etc.) are displayed on the guest invoices and bills
Bills A/R accounts daily and send the same to guest along with the supporting bills and statements
Follow up on any accounts within 3 days to ensure customer has received the invoice and does not have any questions
Review the Account Receivables (A/R) Ageing reports on a daily basis
Follow up 30 days after the initial billing if payment has not been received
Check customers credit ratings and flag accounts as Black Listed for long outstanding or defaulter accounts
Enters invoices into accounts payable system weekly after verifying a purchase order was received from ordering department head and obtaining General Manager's approval
Forecasting cash payments and anticipating challenges arising from limited cash flow
Ensuring that cash flows are adequate to allow business units to operate effectively
Maintain banking relationships and negotiating loans and merchant services for business units
Maintain files of all contracts, insurance policies, tax reports, expenses, payroll etc
Maintaining and transferring money between bank accounts as required
Performing numerical analysis of data and formulating conclusions and/or solutions
Approving all Travel Agent commissions and releasing payments after verification
Preparing financial reports and submissions to relevant government entities
Ensure all new hire paperwork, benefits, performance appraisal, disciplinary action forms and other pertinent personnel documents are filed appropriately and maintained in accordance with the company HR practices
Monitor and contains all property inventories to ensure proper levels without causing burdens on property cash flows
Preparing and presenting financial reports for meetings and investors
Working with executives and business heads to prepare budgets and track profit/ loss performance by business unit
Providing direction and training to hotel operational team in areas related to finance, financial reports, internal controls, labour management, payroll, etc.
Effectively manage the accounting team through respectful communication, clear expectations, relevant training, productive coaching, regular meetings and appropriate performance management
Liaise with internal departments and external auditors during audits and ensure compliance with statutory requirements
Review and improve internal controls and financial processes to enhance efficiency
Qualifications & Requirements:
Proven experience as Hotel Finance Executive or equivalent position with minimum 5 years of working experience.
Diploma in Accountancy or equivalent
Knowledge of Financial Reporting Standards and uniform standards for hotel accounting
Proficiency with MS Office (Excel / Word)
Experience in PMS such as Opera, Room Master, Protel, Visual One, Delphi, Sun Finance, Oracle Finance, SAP, Xero etc
Experience in group consolidation and statutory reporting
Knowledge of Financial Reporting Standards
Good interpersonal and communication skills
Good with numbers and eye for details
Great understanding and experience in hotel operations and its financial aspect
Committed and able to work in a team
Good analytical and management skills
Able to work under pressure
Ability to manage multiple tasks and meet deadlines
