Professional Documents
Culture Documents
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Submitted to: Jennifer Gorospe- Sese
1. Enumerate and define: the different forms of payment (aside from cash, credit card,
charge to company account)
Personal Cheque- these are ordered through the buyer's account. They are
essentially paper forms the buyer fills out and gives to the seller. The seller gives the
cheque to their bank, the bank processes the transaction, and a few days later the
money is deducted from the buyer's account. With the increasing trend toward fast
payment, cheques are seen as slow and somewhat outdated.
Online Payments and Electronic Transfers- EFTs are also widely used by both
small and medium businesses, as well as corporations, to pay their payroll, taxes,
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and utilities and professional services. To facilitate transfers, most people turn to
their mobile devices as the channel for online and electronic payment.E-commerce
payment methods are dominating the market and should therefore be considered by
your small business for paying your expenses or even receiving money from
suppliers or customers. Interact payments offer a quick and easy transaction
process, with the money being deposited directly into your account within a day.
Mobile Payments or Digital Wallets- Making payments using this method is easier
than ever. Mobile phones and wearable devices have become the new way to pay.
Apple, Google and Fitbit® have adapted their wearable devices for contactless
payment capabilities. Using digital wallet and wearables for payments can translate
to shorter lines and faster checkouts.
Digital Currency – Bitcoin- Digital currency is currency that only exists in
electronic form. An example of digital currency is Bitcoin. Although digital currency
will not replace other forms of currency anytime soon, it is a payment method that
younger customers are starting to use.
Online banking- Online banking or internet banking can be used to make all sorts
of payments. The user will need to sign up with their bank before they can get
started but once they’re up and running, it can be used to transfer money to anyone
they want, directly from their bank account.
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Performance Task No. _____________
Submitted to: Jennifer Gorospe- Sese
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Handling Bills by Credit
- Usually the corporation requesting direct billing will complete an application
for credit approval. The controller in the lodging establishment will then
perform a credit check to determine a credit rating and a credit limit. This
house limitof credit, a credit limit set by an individual hotel, can vary,
depending on the amount of projected charges and the length of time allowed
for charges to be paid. The credit rating of the corporation in question will play
a large part in assigning a credit limit.
Payment by Cheques
- Most lodging properties simply do not accept personal checks; there is too
great an opportunity for fraud. This policy often comes as a surprise to guests,
who may protest that this is the only means of payment they have. However,
there are commercial check authorization companies that a hotel can employ
and credit - card companies that will guarantee a guest’s personal check.
Special Billing Instructions
- Billing or payment instructions are used to display the billing method of a
reservation for the front desk staff, cashiers etc.. A clearly defined billing
instruction will help both the front desk staff to do a correct settlement of the
guest at the time of check out and to avoid any further disputes later
on.Nowadays all the PMS / Front office software have two separate fields to fill
the billing instructions, one area to update the billing instruction for the guest,
which is also printed on all stationary like guest invoice, registration card etc.
And the second field for updating internal / cashier billing instruction eg: only
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Performance Task No. _____________
Submitted to: Jennifer Gorospe- Sese
cash settlement etc.A Payment/billing instructions must be updated at the time
of entering the reservation, For Example if the payment method cannot be
confirmed or if payment is by any form other than credit card then the Status of
the reservation should be changed to Tentative / Optional ( Depending upon
hotel policy) and once payment has been made or credit card provide the
Status can be updated to Confirmed.
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