Introducing Financial Transactions and Sourcing Documents in the Hospitality Business

THE HOSPITALITY BUSINESS
TOOLKIT

Introduce financial transaction and identifying
types of sourcing documents
 Financial restrictions termed out as agreement that carried out among sellers and
customers with terms to exchange commodities for payment.
 This is process that covers change in status of the finances of two or more enterprises
or individuals. In addition to it, there are mainly four types of financial transaction
occur in business and these as are- Sales, Purchase, payments and receipts etc.

Principles of managing and monitoring financial
performance.
 Follow appropriate legislation and regulations- In this, all expenditure and activities
conducted by particular juice centres must be based on proper rules and regulations.
 Evaluate and analysis financial consequences- They must take steps towards to
evaluate and analysis consequences relates with financial before adopting any new
project and activities that aids to allocate resources in effective manner.

Principles of double entry book keeping system of debits
and credit
 Double entry book keeping system can be termed out as one of crucial concept that
each accounting transacting has two aspects within new business finance. Additionally,
general ledger mainly records two sides of each transaction.
 In this, one side reflect debit and other one shows credit. Debit side shows balance that
takes out from business for some object of making purchase and investment in “Health
Freakness”. Credit sides shows that money comes in after selling of commodities

Basic trail balance

Description on type of cost
 The cost in the accounting are outlined as-:
 fixed cost- This is defined as the cost of fixed inputs within productions.
 Semi variables- It is cost that termed out as partly fixed and partly variables.
 Variable cost- This is defined as cost of variables inputs that used in the production.