In this article, we will showcase folios and their purpose in greater detail.
Purpose and folio types
You can view the folio as an open bill of the customer where all service charges and payments are posted.
Clock PMS+ supports several folio types:
- Standard folios for charging the services rendered and registering the payments from the customer;
- Deposit folios - contain deposited amounts that can be transferred to standard folios or can be transferred as advances.
- Advance folios - these are closed deposit folios containing a special type of services reflecting the invoiced prepaid amounts.
- Correction Folios - they are associated with the above folio types and cannot be used for registering payments. Their purpose is to reflect corrections made to closed folios.
Folios are always related to a specific unit in the system - a booking, company, or event. For each unit, you can create an unlimited number of folios.
Payer (2) of the folio is the unit for which the folio has been created and whose services it contains. The payer cannot be changed, it is automatically associated with the folio upon its creation.
Apart from the Payer, the folio also has a Billing to (1), it is a person or entity in whose name the document is issued upon the folio closing. Before closing the folio, the "Billing to" can be changed with another physical person or legal entity (company).
The balance of the folio is calculated as the difference between the charged services and the registered payments in it. Balanced folios are the ones whose balance is zero. Unpaid closed folios are tracked in the Accounts Receivable Report.
Payments can be added to the folio at any moment regardless of whether it is still open or is already closed. Depending on the rights of the respective user, the system can allow folio closure without the necessary payments being present in it.
Charges can only be reflected in open folios. As long as a folio is open, corrections are also possible to already-charged services. To issue a document for the services, you need to close the folio. The document will contain all the services from the folio, i.e. one document can be issued for one folio.
Please see the rest of the related articles to learn how to use folios.