Optimization of Exchange Rate Handling at Checkout in Front Office PMS

Optimization of Exchange Rate Handling at Checkout in Front Office PMS

This article is valid only for Hotels that handle rates in foreign currencies (e.g. USD).
Novohit can automatically calculate the exchange rate differences that may arise during the reservation, check-in and checkout process.
This brings as a benefit that the remaining balances in foreign currency will be balanced without losing sight of the gains or losses due to exchange rate differentials.
At the time of check-out:
  1. The amounts in USD will appear in the fields Balance Receivable and Amount to be Invoiced.
  2. The system will display the following message when passing the mouse over the "?" symbol: The balance in local currency must be equal to zero in order to exit the account, regardless of the balance of the account in USD. The automatic transactions by exchange rate differential will only be applied if the balance in local currency is DIFFERENT from zero and the balance of the account in USD is EQUAL to zero.

This functionality is parameterizable, that is to say, the system can make the calculation automatically or the user can do it manually.
Below are the differences in the application according to the parameter to be activated: 

Parameter Csh_Acc_Total_TC

The amounts in the corresponding currency of the rate are respected in the registration and invoicing, it does not convert the amount in pesos by the exchange rate of the day of check out, but it considers the amount in dollars that corresponds to it, invoicing the original amount of the stay. 

Parameter Csh_Id_Payment_Diff_TC

The amount of the exchange rate differential is automatically adjusted through a credit memo with the default payment method. The amount will be applied to the Invoicing Concept determined by the Hotel. This concept is configured in the parameter Csh_Id_Concept_Diff_TC.
Once both parameters (Csh_Id_Payment_Diff_TC and Csh_Id_Concept_Diff_TC) are configured, this will be the flow in Novohit:
  1. An automatic credit memo acceptance message will be displayed:

  3. In statement the automatic credit memo will be displayed.

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