Folio is an industry codeword for the collection of charges.
Think of it like a folder of all the bills a customer may have at the hotel such as:
- 2 Night Stay
- Bar Bill
- Restaurant Meal
You can have multiple folios in a booking and can slip or pass charges between them.
Folio's are usually found in the booking and generally they would be for the customer. But there are some cases where you would want to folios to be for another person or company.
- Company has booked a room for the customer and they are paying for the accommodation only.
- All other charges would be payable by the guest
In this example the main folio would be under the company name and address and another folio is made to contain the guests incidentals like food & drink or extra nights.
Travel Agency Example:
- Guest has booked online with Expedia and paid Expedia directly
- Any other charges the guest needs to pay for
This is very similar to the company example but the guest has paid both, the foilio with the room charges is made to Expedia and is not to be shown to the guest. If the guest has other charges we have a seperate folio for those charges.
Invoices & Receipts
Folios can be turned into Invoices and sent to the guest/company. And invoices can be made into receipts if full payment has been made.