Traditional Culture Encyclopedia - Hotel accommodation - How to confirm the income of long-term rental hotels

How to confirm the income of long-term rental hotels

The daily report of operating income confirms the income.

Different from other industries, hotels can only confirm their income according to the daily report of operating income. Because, many personal consumption does not need invoices. If the income is confirmed according to the invoice, it will cause the income to be untrue. Therefore, in order to make the hotel revenue confirmation true and accurate, we can only use the financial system to standardize the revenue and expenditure procedures and plug the loopholes.

The condition of revenue recognition is that the enterprise has transferred all the main risks and rewards of commodity ownership to the buyer, and the enterprise has neither retained the right to continue management, which is usually associated with ownership, nor exercised control over the sold goods.