Finance Manager

Overview

1. Financial Planning and Budgeting

• Prepare annual budgets, forecasts, and business plans.
• Monitor departmental budgets and expenses.
• Analyze variances between actual and budgeted results.

2. Financial Reporting

• Prepare daily, weekly, monthly, and annual financial reports.
• Produce profit and loss statements, balance sheets, and cash flow reports.
• Present financial performance reports to hotel management and owners.

3. Revenue Management Support

• Monitor room revenue, food and beverage revenue, and other income streams.
• Analyze occupancy rates, Average Daily Rate (ADR), and Revenue per Available Room (RevPAR).
• Work closely with sales and revenue management teams to maximize profitability.

4. Cash Flow and Treasury Management

• Manage hotel cash flow and working capital.
• Monitor bank accounts and cash transactions.
• Ensure sufficient funds are available for daily operations.

5. Accounts Management

• Supervise Accounts Payable (AP) and Accounts Receivable (AR).
• Ensure timely collection of guest, corporate, and travel agent payments.
• Monitor supplier payments and outstanding balances.

6. Cost Control

• Control operating costs across all departments.
• Review purchasing activities and inventory usage.
• Identify opportunities for cost savings without affecting guest service quality.

7. Internal Controls and Compliance

• Establish and maintain financial policies and procedures.
• Ensure compliance with accounting standards, tax regulations, and company policies.
• Safeguard hotel assets and prevent fraud.

8. Audit Coordination

• Coordinate internal and external audits.
• Prepare audit schedules and supporting documents.
• Implement audit recommendations and corrective actions.

9. Payroll Administration

• Review payroll processes and labor cost reports.
• Ensure salaries, benefits, and statutory payments are processed accurately.
• Monitor labor costs against budget.

10. Inventory and Asset Management

• Oversee inventory controls for food, beverages, supplies, and operating equipment.
• Monitor fixed assets and depreciation records.
• Conduct periodic inventory and asset verification.

11. Team Leadership

• Lead and supervise the finance and accounting department.
• Train and develop finance staff.
• Conduct performance evaluations and provide coaching.

12. Strategic Business Support

• Provide financial analysis for hotel projects and investments.
• Support management in decision-making through financial insights.
• Evaluate business opportunities and operational improvements.