Override Posting Date for Adjustments
Objective
This SOP outlines the steps to override the posting date for financial adjustments when reservation financials are locked.
Key Steps
Step 1: When To Override Posting Dates 0:07
Recognize that posting dates may need to be overwritten when:
Reservation financials are locked (e.g., books are closed).
The reservation is on a published understatement.
Step 3: Add an Adjustment 0:27
Go to the system to add an adjustment or line item.
Note that the default posting date will be set to the closing date.
Step 4: Change the Posting Date 0:33
If you need to record an adjustment after the books are closed:
Change the posting date to a date after the closing date (e.g., after the 26th).
The system will not allow an adjustment to be posted after this date.
Confirm that the adjustment is successfully recorded.
Step 5: Handle Fee Adjustments 1:00
For fee adjustments (e.g., cleaning fees):
Repeat the steps to add an adjustment
The system won't allow a posting date to be set after the books are closed.
Ensure to select a posting date on or after the close date
Note that reservation fees & commissions will not auto recalculate and post after the reservation has locked (either because books are closed or because it's been partially reported on an owner statement). Any fees & commission adjustments necessary due to financial adjustments at this point will need to be manually calculated and posted with a posting date in an unlocked period.
Important Reminders
Always verify that the financials are indeed locked before attempting to override posting dates.
Ensure that all adjustments are documented properly to maintain financial integrity.
Tips for Efficiency
Familiarize yourself with the system's interface for adding adjustments to streamline the process.
Keep a record of common scenarios where posting date overrides are necessary to expedite future adjustments.