1. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 1 7100. General Accounting Procedures, 7155 Credit-card Statements A. The Purpose of This Policy The purpose of this policy is to describe how the accountant handles the monthly statements received from credit-card companies in a manner to minimize hotel losses from credit-card transactions. Continue ►

2. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 2 7100. General Accounting Procedures, 7155 Credit-card Statements B. Accountant’s Responsibility and Procedures Within one day of receiving a credit-card statement, the accountant and/or the general manager does the following: 1. Check that our business name and account numbers are correct to be certain you have not received another merchant's statement. 2. Compare each date's total transactions to the amount shown on the property management software for the total transactions paid that day for that credit-card type. Resolve differences with the general manager. 3. Compare each date's net deposit to the amount shown on the bank statement. Resolve differences with the bank and credit-card company. Continue ►

3. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 3 7100. General Accounting Procedures, 7155 Credit-card Statements B. Accountant’s Responsibility and Procedures (cont.) 4. Check the credit-card discount percentage used to calculate the discount amounts to be certain the correct percentage was used. 5. Investigate any credits for disputed or refused charges. Confirm the credits are valid and that the general manager is resolving any disputes. Confirm that all credits have been correctly posted on the property management software. 6. Note on the statement that it has been audited for accuracy. 7. File the statement in a specific file for that hotel and credit-card company. Continue ►

4. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 4 7100. General Accounting Procedures, 7155 Credit-card Statements B. Accountant’s Responsibility and Procedures (cont.) If you have questions regarding a credit-card statement, call the company at one of the telephone numbers listed below:  American Express ® Merchant Services: (800) 528-5200  Discover ® Merchant Service Center: (800) 347-2000 Continue ►

5. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 5 7100. General Accounting Procedures, 7155 Credit-card Statements C. Disputed Credit-card Charges The accounting administrator (general manager or office manager) are responsible for immediately investigating and resolving disputed credit-card charges. Follow the credit-card companies written procedures and schedule for resolving disputes. Continue ►

6. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 6 7100. General Accounting Procedures, 7155 Credit-card Statements D. Online Credit-card Statements Our policy is that hotels using an MMI-supervised accountant and/or any hotel where the general manager has access to online credit-card account management, MMI’s area or regional manager must have access to the online pass codes for those accounts. The Hotel general manager and office manager are the only Hotel-based team members who may have access to these pass codes and online accounts. Keep all online accounting pass codes confidential. End

7. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 7 7100. General Accounting Procedures, 7155 Credit-card Statements