GuestCentrix PMS Trust Accounting. Simplifying The Management Of Strata Titled Accommodation

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1 GuestCentrix PMS Trust Accounting Simplifying The Management Of Strata Titled Accommodation An experienced vendor develops world class hospitality technology solutions. Established in 1983, CMS has installed hundreds of software systems for a range of major hospitality groups, hotels and resort operations across the Asia Pacific region. Feature Summary A timely solution GuestCentrix PMS is a proven and widely used software package for hotel management. The Trust Accounting (TA) module leverages this power and adds to it by simplifying the management of strata titled accommodation. Designed to increase control and efficiency GuestCentrix TA is highly customisable, straightforward to use, and will suit properties that have some, or all, of their rooms individually owned. The system will deliver increased control and efficiency, and provides sophisticated business intelligence and memory.

2 Ensures fair distribution of rooms GuestCentrix TA ensures the fair distribution of business between the privately owned rooms in your hotel by scheduling bookings and preventing conflicts. Accurately tracks room utilisation Room utilisation is accurately recorded in arrears and in advance. Detailed reports provide you with easy access to information about all revenues and deposits held against each unit. Automates standing charges Standing monthly charges, such as letting fees and maintenance fund contributions, can be set up once and automatically charged at user-defined intervals. Automates FF&E accounting Depreciation of room assets, such as furntiture and fittings, is automatically calculated and applied against each unit. Comprehensive statements for single or multiple rooms Owners are delivered timely and comprehensive statements on all aspects of their investment. Handy contact database An inbuilt contact management system records addresses, phone numbers, addresses etc, as well as financial information and payment preferences.

3 Room lists and owner discounts Details of each of your rooms are also listed and easily accessed. Discounted rates can be created and automatically applied if an owner decides to stay in their own unit. Provisional ledger Charges from the hotel system are held in a provisional ledger for review prior to transfer to the Trust Ledger. Owners statements and scheduled payments Owners statements and a schedule of owners payments are readily available, with full audit trails. Trust funds can also be pooled and distributed with a one click end of month process. Customised, integrated, compliant GuestCentrix TA has an extensible design that can be customised to suit almost any property. The intuitive interface means you ll be using the system capably in a short period of time. GuestCentrix TA fully complies with local Trust Accounting legislation.

4 Screen Shots and Detailed Information Set up for Trust Accounting is performed through the following screens. The Trust Details table will hold bank account and BSP information for each trust as well as the deposit transaction codes referred to by the Deposit Posting program. Other information contained on this table is the format for cheques, EFT and remittance advice.

5 The Trust Owners table links each owner to a specified trust account and determines the GST calculation method for service and management fees. Other details included on this table are the owner s bank account details and preferred method of payment.

6 Each Trust will have a number of parameter settings, which control their current processing date, as well as the setting of some options: Owners Records The Trust Owners table identifies each Apartment owner, as below.

7 Room or Apartment Records Each room or apartment within a Trust will have a Trust Room record. Provisional Ledger Charges Provisional Ledger charges are applied when a guest stay record is transferred to the Trust Accounting system. In this way a nightly charge could be applied for each day of stay. Such charges could include electricity usage, or a one off Linen charge as a percentage value of the accommodation revenue.

8 Suppliers S uppliers may be set up within the Trust Accounting System to allow sundry expenses such as repair work or pest control to be applied to the unit holders. Trust Owner Own Use Rate Codes The GuestCentrix Property Management System requires a reservation to have a rate code to determine the amount to be charged. Rate codes may be set up with any amount. The Trust Owner Own Use Rate Codes table links to the Trust Accounting System and allows the details to appear on the owners statements..

9 Processing Cycle Processing follows the normal Hotel Trust Accounting process. Monies received from guests are held in the PMS. After check out, the funds become eligible for transfer to the Trust Accounting system, and thus for payment to the Owners. Ad Hoc Posting during the Month A variety of charges may be posted against Owners accounts during the month. These charges may either be a set of standing charges,or they may be individual transaction codes.

10 Monthly Processing Cycle Reporting There are a number of reports in the standard Trust Accounting system, and some additional ones will need to be developed for this project. Below is a sample of the standard reports. Ledger

11 FF&E Ledger Details

12 Ledger Summary