Senior Finance Executive - Income Audit
Job Description
Finance Executive (Income Audit)
The Finance Executive (Income Audit) is responsible for verifying, reconciling, and auditing hotel financial transactions to ensure accuracy, completeness, proper documentation, and compliance with accounting standards, hotel policies, and internal control requirements. This role covers daily revenue auditing, OTA booking and commission reconciliation, financial reporting, discrepancy investigation, voucher monitoring, float cash counts, and audit record maintenance.
Key Responsibilities
1. Daily Revenue and Income Audit
Verify and post daily revenue from various hotel outlets, including rooms, food and beverage, events, and other revenue-generating departments.
Reconcile daily receipts, payments, room revenue, settlements, and booking records against the hotel’s Point of Sale (POS), Property Management System (PMS), and supporting reports.
Prepare daily revenue and income audit reports for management review.
Ensure all revenue is accurately recorded in the financial system.
Attend to any ad hoc tasks or reports assigned due to business or management needs.
2. OTA Reconciliation and Commission Verification
Reconcile OTA bookings, commissions, and payment records against hotel systems and supporting reports.
Verify OTA commission deductions and ensure they are properly recorded with complete supporting documentation.
Investigate discrepancies relating to OTA commissions, room revenue, settlements, and booking records.
Follow up with relevant departments or external parties to resolve OTA-related discrepancies promptly.
3. Financial Reporting
Prepare daily revenue reports and income audit reports for management review.
Generate monthly financial statements and other financial reports as required.
Assist in preparing ad hoc financial reports requested by management.
4. Discrepancy Resolution
Identify, investigate, and follow up on discrepancies or irregularities in financial transactions.
Work closely with Front Office, Reservations, Sales, Revenue, F&B, and other departments to resolve issues and ensure accurate financial reporting.
Escalate unresolved discrepancies promptly to the relevant supervisor or manager.
5. Voucher Monitoring and Controls
Monitor voucher issuance, redemption, expiry, and outstanding balances.
Ensure voucher transactions are properly documented, authorised, and followed up where necessary.
Maintain accurate records of voucher movements and balances for audit purposes.
6. Compliance and Internal Controls
Ensure compliance with hotel policies, procedures, accounting standards, and internal control requirements.
Implement and monitor internal controls to safeguard hotel assets and revenue.
Assist in internal audits and provide required documentation when needed.
7. Cash Count and Float Verification
Conduct cash counts for the Front Office emergency float and General Cashier float.
Ensure float balances are accurate and properly supported.
Report and escalate any discrepancies promptly for investigation and resolution.
8. Record Keeping and Audit Documentation
Ensure all supporting documents are complete, properly authorised, and maintained for audit purposes.
Maintain accurate and organised records of all financial transactions.
Archive financial documents in accordance with hotel policies and legal requirements.
9. System Management and Process Improvement
Oversee the use of financial software and systems relating to income audit functions.
Assist in the implementation and maintenance of financial software upgrades, system improvements, and automation initiatives.
Support process improvements to enhance accuracy, efficiency, and internal controls.
10. Training and Development
Provide guidance or training to staff on financial procedures, documentation requirements, and hotel policies where required.
Stay updated on industry trends and best practices in hotel revenue management, income audit, and financial controls.