Requiring prepayment for bookings, organised events or corporate contracts is common practice in the hospitality industry. Being aware of the significance of the proper handling of all these monetary flows, we have developed the necessary tools to manage them.
Clock PMS+ supports two modes of work that you can you use in parallel or choose one of them. To enable/disable each of the modes, go to the navigation bar and select Settings->All settings->Payments->Deposit Models.
Deposits
The work with deposits requires an enabled 'Transfer payment'(1) deposit mode. Deposits include:
- Open deposit folios only containing a payment without any charges.
- The use of a deposit is a transfer of the payment from the deposit folio to a folio with services.
- The remaining deposit of the deposit folio is the sum of its payments.
- Each deposit folio can be transformed into Advance Payment Folio by closing this deposit folio.
More info of the payments in deposit folios can be found in the Deposits article.
Advance Payments
To work with advances, you need to have the 'Deduct charges"(2) deposit mode enabled. Advance Payments include:
- Closed deposit folios containing charges.
- The charges can have different tax groups. All charges of the “Pre-invoiced Deposit” revenue group.
- The Advance Payment folio can be UNPAID. If this is the case, it is treated similarly to all unpaid folios and can be found in Accounts Receivable Report.
- The use of advance payment creates special charges in the folio with the services related to the funds consumption with a negative value, as this way the respective amount due is reduced.
- Remaining Advance Payment is calculated on the basis of the charges in the advance payment folio and the already used amounts.
More info of the handling of advances can be found in the other articles of the Advances and Deposits group.