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BIS/303 Cost Controls and Resource Management System Flowcharts University of Phoenix

This document involves cost controls and resource management system flowcharts, likely used in a business information systems course at the University of Phoenix.

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    Cost C on trols 1 Cost Controls and Resource Management System Flowcharts BIS/303 University of Phoenix Explain the role of Point - of - Sale (POS) systems and inventory tracking in hospitality management, focusing on how they integrate with other operational and accounting systems. Discuss the importance of data accuracy and how management controls and accounting strategies influence the effectiveness of these systems. Additionally, evaluate the impact of technology investments in the hospitality industry on accounting control strategies and overall organizational efficiency. Include an analysis of the challenges that disorganization in inventory tracking, lack of information, and poor accounting control can pose to a hospitality business. Word Count Requirement: 1500 - 2000 words

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    Cost C on trols 2 Cost Controls and Resource Management System Flowcharts Point - of - Sale and Inventory Tracking The point - of - sale, or POS, and inventory tracking systems for hospitality organizations integrate with the other information systems such as accounting and operations information systems. The accuracy of information input at the POS is critical because that information is passed on to other systems and databases. The information input into the POS can be from multiple transactions inputs. These inputs can be from booking transactions, sales transactions, service transactions, prepay transactions, after - departure transactions, as well as any other transactions. Customer information is entered through POS systems by an employee at the front desk , concierge, over the internet , or phone. The information recorded on the POS system includes information such as name, address, phone, email, rate, duration, rewards information, as well as billing information or any other special requests. The information input into the POS system integrates directly with the accounting and operations systems through common databases or as part of a larger property management system. This system would record inventory based on booked reservations and new reservations coming from the POS system. A central database, or database management system (DBMS), is used to interface with multiple systems. “ Each work area database interfaces with a central database, the DBMS, which acts as a centralized warehouse for the entire operation — thus the term data warehouse” (Tesone, 2006, p. 176). The data stored in the central database can be accessed by other departments including housekeeping, maintenance, accounting, operations, sales and marketing, and more.

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    Cost C on trols 3 The operations and accounting departments use process control and management reporting functions to make informed business decisions. Process control is important to understand what products and services are being used. “ Process control functions are procedures that track the use of the material resources required t o produce products and services” (Tesone, 2006, p. 173). For example, m anagement reporting functions may i nclude sales details, revenue volumes, and other reporting based on data input from the POS systems. Operations and Accounting can use much of the information from the POS systems. For example, customer information, rewards information, locations, rates, and other information is input from the POS system and recorded in the POS database. The central database can retrieve information from the POS server and interface with the operations and accounting servers, which can then provide the information to the respective departments. Operations can use this information to analyze and understand occupancy rates, length of stay, and other information. Maintaining accurate i nventory information is critical . Accounting can use the information input on the POS to invoice the customer the correct amount. Point-of-sale Terminal (input) Central Database DBMS Mainframe Point-of-Sale Server Accounting Server Operations Server Property Management System Input Name Address Rewards Phone Email Billing Transactions Process Control Management Reports Figure 1.1: The flow of information from the POS terminal

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