Today's Hotelier - April 2018 - 110

OPERATIONS

the policy. You do not want procedures
mixed in with your policies.
The best way to handle procedures
is to have a checklist or an instruction
guide as a separate document and not
part of your policy. A great example
of this is a manual we used to load
data from our general ledger (GL) into
the financial reporting engine. In our
company, we had a binder referenced
monthly to load the data into whatever
category being used. The procedures in
the book changed often and, depending
on what GL system we had, there were
different instructions. The policy was
a different matter. The policy was all
GL data loaded into the system verified
using the retained earnings in the current period. A print screen from both
systems was required to be attached

to the sign-off sheet, approved by the
controller monthly. Do not confuse
policy with procedure. You will make
your manual much more effective and
useful if you avoid this common mistake. Creating a policy manual will also
be much simpler if you do not include
procedures.
Getting back to the client for whom
we created a custom policy manual. We
had been working on financial statement design issues when he indicated
their company did not have a policy on
recoding hours worked in the general
ledger. A bit more discussion revealed
that his hotel company did not have a
completed accounting policy manual.
All they had were a bunch of memos.
This is fairly common. In order to create
a custom policy manual for his hotels,

we needed to develop a standard set of
hotel-specific accounting policies. More
than 500 different policies in 30 different sections.
We outlined a way to work together
to create his own custom company
manual. Every other week we worked
on three sections of the manual via
email  - approximately 50 different
policies. His job was to review those
standard policies and think about how
he wanted things changed or not for
his business. We then convened a call,
and one by one we reviewed the policies and agreed on what needed to be
changed. We discussed these changes so
we were both clear on what he wanted.
The calls were recorded and used to edit
the standard policies with his changes.
They were then returned to the client,
and we were successful because we
were making progress in a way that
allowed him to see and tailor each piece.
Before long, we had his company policy
manual completed.
He liked the process because he only
worked a few hours each week: a little
reading and some review on his part and
he received a policy manual that was
customized to his needs.
If you don't have a policy manual, you
now know two important things to help
you get this project off the ground: Don't
mix policy with procedure, and you don't
have to do this alone.
■
David Lund, CHAE, "The
Financial Hotel Coach," is
an international hospitality
financial leadership expert
who has held positions
as a regional financial
controller, corporate director and hotel
manager with an international brand for
30 years. He authored an award-winning
workshop and two books on hospitality
financial leadership, coaches hospitality
executives and delivers his financial
leadership training worldwide. To learn
more, visit www.hotelcoachdavid.com.

110  | APRIL1
839412_Hospitality.indd

2018 | TODAYSHOTELIER.COM

15/02/17 10:06 pm


http://www.hifranchise.com http://www.hifranchise.com http://www.hotelcoachdavid.com http://www.TODAYSHOTELIER.COM

Table of Contents for the Digital Edition of Today's Hotelier - April 2018

Letter From the Chairman
Letter From the President & CEO
Government Affairs & Advocacy
The C-Suite
Common Ground
Summer Season Offers Opportunities to Drive Business
Maximizing Your Experiential Travel Potential
What Can Hoteliers Learn From Other Industries?
Trends to Watch
Finance
Operations
Marketing
Small Business
Spotlight
Q&A
Perspectives
Travel
Leadership
Strategy
Design
Guest Experience
Food & Beverage
Technology
Operations
HR & Employee Relations
AAHOA Club Blue, Platinum, Gold & Silver Members
AAHOA @ Industry Events
Classifieds
Advertiser Index
Back of the House
Today's Hotelier - April 2018 - Intro
Today's Hotelier - April 2018 - cover1
Today's Hotelier - April 2018 - cover2
Today's Hotelier - April 2018 - insert1
Today's Hotelier - April 2018 - insert2
Today's Hotelier - April 2018 - 3
Today's Hotelier - April 2018 - 4
Today's Hotelier - April 2018 - 5
Today's Hotelier - April 2018 - 6
Today's Hotelier - April 2018 - 7
Today's Hotelier - April 2018 - 8
Today's Hotelier - April 2018 - 9
Today's Hotelier - April 2018 - 10
Today's Hotelier - April 2018 - 11
Today's Hotelier - April 2018 - Letter From the Chairman
Today's Hotelier - April 2018 - 13
Today's Hotelier - April 2018 - Letter From the President & CEO
Today's Hotelier - April 2018 - 15
Today's Hotelier - April 2018 - Government Affairs & Advocacy
Today's Hotelier - April 2018 - 17
Today's Hotelier - April 2018 - 18
Today's Hotelier - April 2018 - 19
Today's Hotelier - April 2018 - The C-Suite
Today's Hotelier - April 2018 - 21
Today's Hotelier - April 2018 - Common Ground
Today's Hotelier - April 2018 - 23
Today's Hotelier - April 2018 - Summer Season Offers Opportunities to Drive Business
Today's Hotelier - April 2018 - 25
Today's Hotelier - April 2018 - 26
Today's Hotelier - April 2018 - 27
Today's Hotelier - April 2018 - 28
Today's Hotelier - April 2018 - 29
Today's Hotelier - April 2018 - Maximizing Your Experiential Travel Potential
Today's Hotelier - April 2018 - 31
Today's Hotelier - April 2018 - 32
Today's Hotelier - April 2018 - 33
Today's Hotelier - April 2018 - 34
Today's Hotelier - April 2018 - 35
Today's Hotelier - April 2018 - What Can Hoteliers Learn From Other Industries?
Today's Hotelier - April 2018 - 37
Today's Hotelier - April 2018 - 38
Today's Hotelier - April 2018 - 39
Today's Hotelier - April 2018 - 40
Today's Hotelier - April 2018 - 41
Today's Hotelier - April 2018 - Trends to Watch
Today's Hotelier - April 2018 - 43
Today's Hotelier - April 2018 - 44
Today's Hotelier - April 2018 - 45
Today's Hotelier - April 2018 - Finance
Today's Hotelier - April 2018 - 47
Today's Hotelier - April 2018 - 48
Today's Hotelier - April 2018 - 49
Today's Hotelier - April 2018 - Operations
Today's Hotelier - April 2018 - 51
Today's Hotelier - April 2018 - 52
Today's Hotelier - April 2018 - 53
Today's Hotelier - April 2018 - Marketing
Today's Hotelier - April 2018 - 55
Today's Hotelier - April 2018 - 56
Today's Hotelier - April 2018 - 57
Today's Hotelier - April 2018 - Small Business
Today's Hotelier - April 2018 - 59
Today's Hotelier - April 2018 - Spotlight
Today's Hotelier - April 2018 - 61
Today's Hotelier - April 2018 - Q&A
Today's Hotelier - April 2018 - 63
Today's Hotelier - April 2018 - 64
Today's Hotelier - April 2018 - 65
Today's Hotelier - April 2018 - Perspectives
Today's Hotelier - April 2018 - 67
Today's Hotelier - April 2018 - 68
Today's Hotelier - April 2018 - 69
Today's Hotelier - April 2018 - Travel
Today's Hotelier - April 2018 - 71
Today's Hotelier - April 2018 - 72
Today's Hotelier - April 2018 - 73
Today's Hotelier - April 2018 - 74
Today's Hotelier - April 2018 - 75
Today's Hotelier - April 2018 - Leadership
Today's Hotelier - April 2018 - 77
Today's Hotelier - April 2018 - 78
Today's Hotelier - April 2018 - 79
Today's Hotelier - April 2018 - 80
Today's Hotelier - April 2018 - 81
Today's Hotelier - April 2018 - Strategy
Today's Hotelier - April 2018 - 83
Today's Hotelier - April 2018 - 84
Today's Hotelier - April 2018 - 85
Today's Hotelier - April 2018 - Design
Today's Hotelier - April 2018 - 87
Today's Hotelier - April 2018 - 88
Today's Hotelier - April 2018 - 89
Today's Hotelier - April 2018 - Guest Experience
Today's Hotelier - April 2018 - 91
Today's Hotelier - April 2018 - 92
Today's Hotelier - April 2018 - 93
Today's Hotelier - April 2018 - 94
Today's Hotelier - April 2018 - 95
Today's Hotelier - April 2018 - Food & Beverage
Today's Hotelier - April 2018 - 97
Today's Hotelier - April 2018 - 98
Today's Hotelier - April 2018 - 99
Today's Hotelier - April 2018 - 100
Today's Hotelier - April 2018 - 101
Today's Hotelier - April 2018 - Technology
Today's Hotelier - April 2018 - 103
Today's Hotelier - April 2018 - 104
Today's Hotelier - April 2018 - 105
Today's Hotelier - April 2018 - Operations
Today's Hotelier - April 2018 - 107
Today's Hotelier - April 2018 - 108
Today's Hotelier - April 2018 - 109
Today's Hotelier - April 2018 - 110
Today's Hotelier - April 2018 - 111
Today's Hotelier - April 2018 - HR & Employee Relations
Today's Hotelier - April 2018 - 113
Today's Hotelier - April 2018 - 114
Today's Hotelier - April 2018 - 115
Today's Hotelier - April 2018 - 116
Today's Hotelier - April 2018 - 117
Today's Hotelier - April 2018 - AAHOA Club Blue, Platinum, Gold & Silver Members
Today's Hotelier - April 2018 - 119
Today's Hotelier - April 2018 - AAHOA @ Industry Events
Today's Hotelier - April 2018 - 121
Today's Hotelier - April 2018 - 122
Today's Hotelier - April 2018 - Classifieds
Today's Hotelier - April 2018 - 124
Today's Hotelier - April 2018 - 125
Today's Hotelier - April 2018 - 126
Today's Hotelier - April 2018 - 127
Today's Hotelier - April 2018 - 128
Today's Hotelier - April 2018 - 129
Today's Hotelier - April 2018 - 130
Today's Hotelier - April 2018 - 131
Today's Hotelier - April 2018 - 132
Today's Hotelier - April 2018 - Advertiser Index
Today's Hotelier - April 2018 - 134
Today's Hotelier - April 2018 - 135
Today's Hotelier - April 2018 - Back of the House
Today's Hotelier - April 2018 - 137
Today's Hotelier - April 2018 - 138
Today's Hotelier - April 2018 - cover3
Today's Hotelier - April 2018 - cover4
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