Front office management I

Payment through Travellers Cheque (T.C.)

1. 
   Traveler’s cheques are also a very famous method of settlement of bill by guest in hotel.
   
2. 
   T.C. are issued in fixed denominations by major banks travel agents and now building societies through out the world.
   
3. 
   The costumers buy then in their own currency or in the currency of the country being visited.
   
4. 
   When they are purchased they are to be signed, and the serial number are noted by the issuing bank in a register.
   
5. 
   Normally the customer pays a service of 1% to the bank.
   
6. 
   This charge covers insurance against the lost or theft.
   
7. 
   If the TC are stolen, the issuing company repay the customer within 24 hrs. Hence the TC are much more secure than the currency.
   
8. 
   When accepting payment through this mode, the cashiers should tally the guest signature and date.
   
9. 
   If there is any doubt then he is asked to sign again on the reverse of the cheque.
   
10. 
    The front office cashier will give a receipt to the guest as a proof of receipt of payment from the guest.
    
11. 
    At the time of departure the guest folio is stamped as “paid”.
    
12. 
    The duplicate copy of the folio is retained by the hotel for the record purpose.
    
13. 
    TC must then be paid into the bank account of the hotel, normally with the room nos of the guest noted on the reverse side so that any queries that arise can be followed up.
    

Indian currency and foreign currency

The hotel & tourism industry in any country is a prime source for the generation of foreign currency. Governors would therefore like to keep a close tab on all foreign currency realized. They institute a strict system of checks and records which extends to hotel as well. Firstly the hotels has to get the license to exchange the foreign currency. Secondly there has to be someone who is authorized to deal in foreign exchange cashier. Thirdly exchange is done only in local currency. Fourthly exchange rates must be displayed prominently at the exchange point. The rates are governed by the central banks which updates them on daily basis. The exchange can be only extended to resident guest of the hotel. No resident guest may go to exchange bureaus and banks to exchange their currency.