Hospitality Business Toolkit

This toolkit provides a comprehensive guide for the hospitality business, covering topics such as ledger accounts, trial balance, financial performance measurement, training, legal and ethical considerations, and HR life cycle. It includes practical activities and recommendations for managing various aspects of the hospitality industry.

Hospitality Business
Toolkit

Table of Contents
INTRODUCTION..........................................................................................................................3
Part A...............................................................................................................................................3
Activity 1: Ledger Accounts & Trial balance........................................................................3
Activity 2: Recommendation of methods to measure financial performance........................8
Activity 3: Training of hospitality industry............................................................................9
Activity 4: Legal & Ethical considerations..........................................................................10
PART B..........................................................................................................................................10
Activity 5: HR life cycle for management of talent.............................................................10
Activity 6: Performance planning'........................................................................................11
Activity 7: Functional roles..................................................................................................12
(Covered in PPT)...........................................................................................................................12
CONCLUSION....................................................................................................................13
REFERNCES.................................................................................................................................14

INTRODUCTION
Hospitality industry is a very dynamic industry that is exchanging very fast and is
affected by sectors such as event planning, accommodation etc. Present report is based on The
Ritz London is a five star hotel that is having presence in London. It is one of luxurious hotels
that is prestigious and is well known across different parts of world (Wei. and YUE,, 2017).
There are various activities that are part of this report and includes aspects such as Principles of
management, double entry system (Gosavi, Garud. and Bisen, 2018). It includes different ages
of a HR life cycle and a performance management plan has been prepared. There is identification
of legislations and impact of employment law on working of a organisation. Various functional
roles have been discussed and methods of coordination & communication is applied in the
industry.
Part A
Activity 1: Ledger Accounts & Trial balance
Ledger accounts: Ledger accounts are those in which different accounts are settled in the name
of the person who is entitled to it. Ledger accounts are of three types such as General, purchase
and sales. With help of ledger, trial balance and financial statement are prepared and all the
transaction related with company are recorded in proper manner. Ledger accounts assists the firm
to maintain all the transactions as separate account so that all the data as well as information is
stored in proper format and order. Main issue with ledger is that it is unsafeas anyone or third
party can easily access the data or accounts. Besides this, main advantage of ledger is that it
helps the firm to determine the expenses and income and is listed as Profit and loss account. So,
when using ledger a proper focus is to be maintain so that chances of errors are minimised and
reduced.
Trial balance: Trial balance is method in which all amounts of debit as well as credits are
mentioned and total are equal of both sides. Organisation use trial balance so that all the accounts
are settled and any errors in the ledger is determined in effective manner. With help of trial

balance final accounts are is also prepared. Finance and accounting team of the firm are
responsible for handling all the transactions which occur in business. Trial balance need time and
focus so that all the accounts from ledger are placed in proper order. In this, it does not determine
all the errors and also repeating of accounts is also evaluated in proper manner. So, trial balance
assists the organisation and help them to analyse their fuinancial capability.
Journal entries for Dorchester Hotel for the month ending March, 2020
Date Particulars Debit Credit
March, 1 Purchase a/c
To Onur's kitchen a/c
6001
6001
March, 1 Purchase a/c
To Deniz's a/c
28652
28652
March, 3 Beverage a/c
To Sales a/c
12203
11203
March, 3 Food a/c
To Sales a/c
1924
1924
March, 6 Onur's kitchen a/c
To Bank a/c
6001
6001
March, 10 Beverage a/c
To Sales a/c
10966
10966
March, 10 Food a/c
To Sales a/c
2687
2687
March, 14 Bank a/c
To Sales a/c
3008
3008
March, 17 Beverage a/c
To Sales a/c
11710
11710
March, 17 Food a/c
To Sales a/c
1611
1611

March, 17 Deniz's a/c
To Bank a/c
28652
28652
March, 22 Purchase a/c
To Onur a/c
8013
8013
March, 24 Beverage a/c
To Sales a/c
10614
10614
March, 24 Food a/c
To Sales a/c
1905
1905
Ledger accounts of Dorchester Hotel for March, 2020
Purchase a/c
Date Particular Amount Date Particular Amount
March, 1
To Onur's
kitchen 6001 March, 31 By Balance c/d 34653
March, 1 To Deniz 28652
Total 34653 34653
Onur's Kitchen a/c
Date Particular Amount Date Particular Amount
March, 6 To Bank 6001 March, 1 By Purchase 6001
Total 6001 Total 6001
Deniz a/c
Date Particular Amount Date Particular Amount
March, 14 To Seling 3008 March, 1 By Purchase 28652

March, 17 To Bank 28652 March, 31 By Balance c/d 3008
Total 31660 Total 31660
Bank a/c
Date Particular Amount Date Particular Amount
March, 6
By Onur's
kitchen 6001
March, 31 To balance b/d 34553 March, 17 By Deniz 28652
Total 34553 Total 34553
Beverages a/c
Date Particulars £ Date Particulars £
March, 3 To sales 12203 March, 28 By balance c/f 45493
March, 10 To sales 10966
March, 22 To sales 10614
March, 17 To sales 11710
Total 45493 Total 45493
Sales a/c
Date Particulars £ Date Particulars £
March, 3 By Beverage 12203
March, 3 By Food 1924
March, 10 By Beverage 10996
March, 10 By Food 2687

March, 17 By Food 1611
March, 17 By Beverage 11710
March, 31
To balance
c/f 53650 March, 22 By Beverage 10614
March, 22 By Food 1905
Total 53650 Total 53650
Food Account
Date Particulars £ Date Particulars £
March, 3 To sales 1924
March, 10 To sales 2687 March, 31 By balance c/f 16140
March, 24 To sales 1905
March, 17 To sales 1611
March, 22 To Onur's 8013
Total 16140 Total 16140
Seling Account
Date Particulars £ Date Particulars £
March,
14 By Bank 3008
March, 31 To balance c/f 3008
Total 3008 Total 3008
Trial balance of Dorchester Hotel for the accounting period ending March, 2020

Particulars Debit (In £) Credit (In £)
Purchase a/c 34653
Deniz a/c 3008
Bank a/c - 34553
Beverage a/c 45493
Sales a/c 53650
Food a/c 16140
Selling a/c 3008
Onur's kitchen a/c 8083
TOTAL 99294 99294
Activity 2: Recommendation of methods to measure financial performance
Two key performance indicators for restaurants:
Number of customers:
Principles of managing & monitoring the financial performance of a organisation:
There are some principles that must be used for purpose of management of financial
performance of a organisation as discussed below:
 Consistency: According to this principle all procedures & policies must be established
accordance with similar transactions that are taking place in organisation (Janson,
Ichter. and Pavone, 2018).
 Timeliness: Transaction should be handled in a given period of time (Žuľová, Švec, and
Madleňák, 2018).
 Justification: There should always be a some reason that is supporting goals of a project
and adherence to guidelines given.

 Documentation: It is responsibility of the organisation to provide timely justification of
all the documents prepared. It consist of retaining and organisation of all such documents
prepared by finance department of Ritz London.
 Certification: In this step all transactions have to be certified so that all such documents
are properly maintained for long term, period.
In Ritz London above discussed principles have to be properly and timely implemented to ensure
smooth functioning of organisation (Brunnert and Krcmar, , 2017).
Activity 3: Training of hospitality industry
Specific legislations implying on Ritz London:
There are some legislation that are imposed on a business and that is helping in regulation
its overall performance (Yamamura, Fan and Suzuki, 2017). Such implications are helpful in
enhancement of quality of the services that are being offered to their customers. Such laws in
case of The Ritz London are discussed below:
 Employment law 2002: According to this law there is protection of customer interest by
ensuring that schemes such as related to customers, minimum amount to be paid &
overall benefits offered to these customers (Stegmann and Birkholtz, 2019). In case of
The Ritz London, all employees are given equal treatment and opportunities that is
motivating them to perform in a more better way.
 Food safety Act 2002: According to this law it is very important to consider overall
quality of the offerings to customers (Louis, and Urcan, 2018). For this purpose food
safety act has been implemented that is basically for ensuring bets quality of all services
that are actually availed by customers (Winship,2016). It has a very positive impact in
overall profitability and increasing the satisfaction of customers.
Activity 4: Legal & Ethical considerations
Impact of laws :
Employment law: It is law that is sued for controlling and management of activities. In
Ritz London, manages have the responsibility to improvise all such laws and following to
provided benefits to their workers (Warren,. and Jones, 2018).
Contract law: These are laws that are related with different types of contracts that are
being a made in course of business functions. There are contracts that are build up with various

stakeholder such as with suppliers, creditors etc. all such contracts have to be make fair for
smooth functioning of the organisation.
Company law: It is the law that has been developed for purpose of maintain of business
function in a effective manner ( Kuter and Gurskaya, 2019). This is a law that has been made
according to various requirements of Ritz London. It is used for ensuring proper functioning of
this hospitality organisation.
Potential impact of legal and ethical consideration for a Hotel:
There should be timely and proper implication of all such laws without any type of
baseness. It is helpful in reduction of any type of unethical practises (Lee, , 2016). Further such
timely implementation has a positive impact on improvement of productivity of the organisation.
Also, for improvement of overalls share of market.
PART B
Activity 5: HR life cycle for management of talent
Human resource life cycle is used for facilitation to development of understanding that is
result of various stages that are related to employees in every organisation. There is
consideration of a specific role in case of Ritz London that is the position of a HR executive is
vacant and for this there is a requirement to conduct a life cycle steps of Human resource. This
cycle has five stages as discussed below:
Recruiting: First stage in of HR life Cycle. In this step various roles and responsibilities
that have to be performed by managers have to be identified, in case of recruiting employees it is
necessary to consider that most suitable employee is selected based on their competence and
requirement of capabilities. HR managers in Ritz London, has to perform all such roles to assist
all their managers in performing assigned duties. For recruitment of a HR executive there will be
several sources that have to be identified such as various employment exchanges and
advertisements will be placed on print media and online sources on job recruitments sites will be
placed to approach various prospective candidates looking for job.
Orientation & Career planning: In this stage, employees are made more comfortable in
their workplace. In Ritz London, there are various types of orientation session that have been
organised for purpose of introduction of employee to their new workplace. Effort are made to
give a positive and warm welcome to the new employees that can help them in getting more

comfortable to perform their roles. After from the above identified sources there will be lot of
applicants and among all of those by use of personal interviewer as a selection method there will
be selection of the skilled candidate for the position of a HR executive. It is going to further lead
to fulfilment of the vacancy in the organisation. Now, there will be offer letter sent to the
employee and they will have to be present on the specific joining date. After that there will be
orientation programme that will be conducted of the selected employee for a period of one week
in Ritz London to make him comfortable.
Career development: In every company it is very important that employees have to
engage properly so that they are retained for a longer duration of time. HR managers in Ritz
London has the responsibility to identify such opportunities and then assist in individual
development. There are timely sessions of training to ten HR executive if he does not possess
any specific type of skills have to be started so that employees can be trained in those areas
where they are lacking their skills.
Termination: It is the last stage in which HR has the responsibility of managing the
retirement of employee. In this step different procedures and policies have to be formed
regarding transition and termination of employees. HR manager in Ritz London will be
formulating such policies that are related to retirement of the employee selected for HR
executive.
Activity 6: Performance planning'
(Covered in PPT)

Activity 7: Functional roles
(Covered in PPT)
(Covered in PPT)

CONCLUSION
It can be said from above discussed points that there are various elements that are used by
various hospitality organisations. Each organisation has to deal with various challenges while
managing their human resources. It is the responsibility for management to make a performance
management plan that can help them in managing their employee performance and maintenance
of a healthy environment for overall functioning of organisation.

REFERNCES
Books & Journal
Wei, W.E.I. and YUE, X., 2017. Research on Accunting Development Cost Per Graduate
Student in University. Canadian Social Science, 13(1), pp.11-15.
Janson, L., Ichter, B. and Pavone, M., 2018. Deterministic sampling-based motion planning:
Optimality, complexity, and performance. The International Journal of Robotics
Research, 37(1), pp.46-61.
Brunnert, A. and Krcmar, H., 2017. Continuous performance evaluation and capacity planning
using resource profiles for enterprise applications. Journal of Systems and
Software, 123, pp.239-262.
Yamamura, S., Fan, L. and Suzuki, Y., 2017. Assessment of urban energy performance through
integration of BIM and GIS for smart city planning. Procedia engineering, 180,
pp.1462-1472.
Stegmann, W. and Birkholtz, C., 2019. Accounting for Attorneys: AAT 322E, Degree
Examinations November 2019.
Winship, J., 2016. Fundamentals of Accounting.
Warren, C. and Jones, J., 2018. Corporate financial accounting. Cengage Learning.
Kuter, M. and Gurskaya, M., 2019, November. The reconstruction of the head office account in
the general ledger of Giovanni Farolfi’s company (1299–1300). In Third International
Economic Symposium (IES 2018). Atlantis Press.
Lee, D.K., 2016. Method and apparatus for accounting process using integrated trial balance.
U.S. Patent Application 15/074,072.
Louis, H. and Urcan, O., 2018. Employment Protection Legislation, Investment, Earnings
Management, and Corporate Performance. Investment, Earnings Management, and
Corporate Performance (October 9, 2018).
Žuľová, J., Švec, M. and Madleňák, A., 2018. Personality aspects of the employee and their
exploration from the GDPR perspective. Central European Journal of Labour Law and
Personnel Management, 1(1), pp.68-77.
Gosavi, A.A., Garud, A.S. and Bisen, K.B., 2018. “How is Employee relations in Industry and
Emerging Technology to sort out.
Vandamme, J. ed., 2019. Employee consultation and information in multinational corporations.
Routledge.
Hasle, P., Seim, R. and Refslund, B., 2019. From employee representation to problem-solving:
Mainstreaming OHS management. Economic and Industrial Democracy, 40(3), pp.662-
681.
Sivakumar, S., 2019. 030-Central Legislation.