A Balanced Folio means that the balance of the folio equals $0 with charges equaling or balancing payments. Balancing the folio can be accomplished in several ways by adding charges, applying payments, giving refunds, giving discounts, etc. The Folio of every Guest Booking, Group Booking and House Account MUST BE BALANCED on the departure date in order to check-out a guest AND to complete the Night Audit. The Night Audit function is a daily audit of all transactions and booking activity for the day. The Night Audit process processes, reviews and catches any bookings that are missing information due to check in or out for the day, charges Room Rent to each Folio, displays unbalanced house folios and then increments the system date. This includes Arrivals, Departures and Unbalanced Folios. There is no required time that you must run night audit. Some properties run the Night Audit at the end of day, at night or early the next morning. Balanced Folio on Check out | Balanced Folio | Charges-No Payments | Deposit- No Charges | Extra Charge |
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