What is the definition of Outstanding Balance Report in the hotel industry?
This statement holds all the listings of a guest’s folios that are due or due to be paid by a guest. This sheet is used to witness the total charges and quantity that needs to be paid by the visitor on exit. This information is then hackneyed into a guests folio when the visitor is ready to check-out.
This sheet is also used to decide the possible revenue produced by an outlet and what earnings are apart from in the near-future. Through this sheet a hotel can gritty the overall near-future profit by a guest.
An average exceptional balance is the unpaid, interest-bearing equilibrium of a loan or loan portfolio averaged over a period of time, generally one month. The average outstanding balance also refers to any term, installment, revolving or credit card debt on which interest is charged.