In operations, so, the income audit is our basic task of the income audits, you will get all these slides after the class on that link you can download it in the meantime you can make notes in your book, this book is not the same as what we are teaching here. This one contains all the lanes and all the copy of the format that we are going to learn in this class also, you can make notes okay. So, the inner body is responsible to record all revenue, all the revenue of the hotel or restaurant, when it will say all revenue means all the aspects of revenue, your total revenue, your service charges, your tax everything. So and then they they are two aspects one is correct, and second is complete. So that way the income audit is ensuring both ways completeness and accuracy so accuracy means that the food revenue should Not be going to the room revenue revenue should not be going to the revenue.

So that we in the future we can make sure whenever whenever we are doing the analysis or whenever we are looking at the trends, we should be able to look at correct trends. So, when you are submitting the reports to the management, so management should be able to see the correct picture. Now, how many people are from Finance? Who are learning here for finance for making income on it? How many? Y'all from one to three?

You are also not from finance. Okay. You're from operations? Finance also? Okay. Yeah, so few people are from finance and operations.

So few people, some of you will be preparing these things, and few some of you will be using them. Okay. It's always important for both of you to learn equally, how to prepare and how to read. Okay. And then to check and ensure that all the discounts and rebates are authorized in hospital in the industry, there are usually a lot of fraud happens especially because it involves a lot of cash settlements. So people the operation people or the cashiers, they can give unnecessary discount and pocket the cash in their pocket.

There are a lot of incidents, we cannot cover all the incidents but we will cover you how to check them. Okay, then the next thing is unusual transactions, because in the summertime is not normally if the guests come, he paid the night and then he settled down his normal position. But if somebody come and stay and want to pay advance for future or want to stay without paying, that is unusual. So the income audit job is to make sure that these unusual things are authorized, authorized by somebody Who is authorized to do it? Either the owner himself or owner has authorized the operation manager to control the operation manager need to approve is somebody who is responsible, not everybody. Okay, then the next thing is on the advance, advise the operation, how to train them how to run, how to improve the operations because in the audit continue to check for mistakes.

So their job is also to train operations staff, how to avoid the mistakes, especially the operation cashier, front office staff, how if let's say you find a mistake in recording the revenue, so you need to not only use it to find that there is a mistake, you also need to train them how to fix it in future so that it does not happen again. If income auditor want to ease their life, then they have to train the staff so that they are less mistakes. less mistakes means you don't you have to find less also you have to work less, less For less paperwork, because you will see in future we have the income audit memo finding Limbo, there are so many things. So a lot of paper is required when you make a mistake, you need to have a proper approval for correctness. When you do have to issue the minutes, then you have to write down on a paper and submit to the management, why this error has happened.

So if you want to avoid all this, don't let that happen. So you train the staff. But even though you training this app, it does not mean that the mistakes will not happen, mistakes will still happen. Because the staff is contiguous this new staff, one staff is not staying at one place for a long time, right. You have used up every day. Sometimes you have some this person designed the next person comes this way another person designed and another person but that is you have to keep on training the staff.

And you have to continue to make the process standard properly so that any new staff who's coming they are understanding the Operations easily. The next step is to generate the management information system for management okay. So the management needs information to make decisions, correct decisions, okay. So, the medicine Our job is to generate the management information system for everybody so that they can make decisions. So the major reports that we normally generate our revenue segment, segment the revenue, that the revenue is coming from which guess coming from the river, future, how to segment the revenue, okay. And then they made reports performance, promotions, performance, the hotel run many promotions 30% discount 10% discount, buy one get one local promotion.

So how are these promotions are working? Are these promotions giving any revenue to the hotel owner? That's also a job off the income audit so that you can tell the management If you're making this promotion, this promotion will work. So based on the past history of promotion so that management can make a decision in future, they want to repeat this promotion, or they want to change the promotion in some other way. So it's not always means that sometimes you do a Facebook promotion, for example, my class, I run the promotion to the Facebook. So I only am in the material by myself, I check how my promotion is working.

So how do I check? I asked every one of you How do you know about my class? Did you know about my class from your friends? Or did you know about my class from your groups, the groups you might have joined from the groups or you will see my ad sponsored ad and then you click on join the class? Correct. So I want to know I want to understand so that in future I can plan if let's say nobody come from the my sponsor ads, the post ad then I will not vote I will not use anymore.

Because it doesn't give me anything, it's just waste of money. If you are coming through the groups like hotel Jovian gone or from the there are CPA groups or there are many many groups that we are continuing to post. So, if you are coming through them or coming through the friends, then I will post I will permit the promotion is that a feature so that I can get maximum guest maximum students, right this is an example of a school but an example of the hotel also you can track you can give them a quote in the promotions buy one get one If however promoting. So, every promotion need to track how much revenue we are generating. Okay.