Folio - overview

Modified on: Mon, 19 Sep, 2022 at 9:57 AM

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In this article, you will showcase folios and their purpose in greater detail. 

Purpose and folio types

You can view the folio as an open bill of the customer where all service charges and payments are posted. 

Clock PMS+ supports several folio types:

  • Standard folios for charging the services rendered and registering the payments from the customer;
  • Deposit folios reflecting the advance payments like booking deposits. Use it in the cases when you need to issue an advance payment invoice. These folios cannot contain charges.
  • Correction Folios - they are associated with the above folio types and cannot be used for registering payments. Their purpose is to reflect corrections made to closed folios.

Details

Folios are always related to a specific unit in the system - a booking, company, event. For each unit, you can create an unlimited number of folios.

Payer (1) of the folio is the unit for which the folio has been created and whose services it contains. The payer cannot be changed, it is automatically associated  with the folio upon its creation.

Apart from the Payer, the folio also has a Billing to (2), it is a person or entity in whose name the document is issued upon the folio closing. Before closing the folio, the "Billing to" can be changed with another physical person or legal entity (company).

Example: For booking folios, the booking automatically becomes the Payer, and, for the "Billing to", the first guest of the booking is taken. 

The balance of the folio is calculated as the difference between the charged services and the registered payments in it. Balanced folios are the ones whose balance is zero. Closed folios are tracked in the Deferred Payments Report. 

Payments can be added to the folio at any moment regardless of whether it is still open or is already closed. Depending on the rights of the respective user, the system can allow the folio closure without the necessary payments being present in it.

Charges can only be reflected in open folios. As long as a folio is open, corrections are also possible to already charged services. To issue a document for the services, you need to close the folio. The document will contain all the services from the folio, i.e. one document can be issued for one folio.

Please see the rest of the related articles to learn how to use folios.

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