Director of Finance

POSITION SUMMARY

The Director of Finance is responsible for the generation of financial reports and protection of the owners assets.

OVERALL RESPONSIBILITIES:

The main responsibilities of the Director of Finance are the preparation and review of budgets, financial reports, month-end reports, P & L statements, daily reports, etc.

REASONABLE ACCOMODATIONS STATEMENT

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable Accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

ESSENTIAL FUNCTIONS

Daily

• Daily Tax Tracking for Rooms and all outlets, work to identify the variances and verify Tax Exempt. Follow the SOP for Pinnacle regarding Tax Exempt backup, ensure proper documentation is available and kept on file.
• Post Income Journal each morning, any variance needs to be identified and directed to the correct general ledger account, if an update to the import in PVNG needs to be made, please reach out to the Director of Finance for Pinnacle.
• Review and ensure that PMS reports for Guest Ledger, City Ledger and Advance Deposits match the General Ledger balance in PVNG. If there is a variance, review the Profit Center Detail to identify and reclass.
• Oversee the daily cash deposit and over/short tracking. Deposits should be made weekly to your Deposit Account, separated by day. Keep a copy of all checks taken to the bank on property.
• Perform any cashiers duties as needed and ensure safe is in balance.
• Any payments received for City Ledger accounts should be posted to the proper account and allocated to the exact invoice (s) that the check is referencing, do not post payments to the oldest balance, this is especially important for Marriott Bonvoy reimbursements.

Weekly

• On Monday of each week, update the cash forecast, this will include running reports for actual cash deposits, clearing checks in the Bank Rec module of PVNG and selecting invoices to be paid in the upcoming check run. Review for errors or cash shortage and distribute and/or upload to Egnyte. Ensure that all ACH debits that cleared through the bank account have been posted in PVNG.
  
  If there is a forecast cash shortage, please discuss this with the GM, VP of Operations and CFO.
• Operating Forecast is due to Ownership on Monday of each week, focus heavily on current month and the next 90 days. Discuss and review with Sales, Revenue Management and General Manager for accuracy. Distribute and/or upload to Egnyte.
• Review Guest Ledger, check all the statuses and ensure that zero balance accounts are checked out, any guests that have departed without a method of payment are written off or transferred to City Ledger, advanced deposits that have past the check in date are kept or returned.
• City Ledger ensure that the Sales Team is following up on collecting payment. Clear any Deposit Keeps or Deposit Returns from the City Ledger.
• Biweekly, verify and approve payroll. This includes ensuring that Managers that have taken time off have put in their PTO, any associates that are paid PTO have those hours available, Pinnacle does not allow associates to borrow unearned PTO. Verify that tips and gratuities that are being paid out, tie to the tips and gratuities collected.

Monthly/Profit and Loss Statement

• P&L and Balance Sheet are due to Ownership no later than the 15th day of the month for the prior month.
• Complete all necessary CEP files and upload to Egnyte.
• Ensure that a Month End Checklist is completed and updated.
• Verify all Sales Bonus payouts, ensure you have all backup from CI/TY and that the revenue has been correctly posted, verify Excel Workbook for accuracy and ensure that executed bonus plans are on file and that the Workbook matches the plan in place.
• Post Recurring Entries each month and utilize Templates as needed.
• Verify payroll accuracy and GL Connect upload.
• Ensure that the Marriott Bonvoy reimbursement invoice is posted properly in PMS City Ledger.
• PTO report MUST be run the day the payroll reports are available (every other Thursday). Create the journal entry, upload and post. Run a final Pinnacle PTO report from CoAdvantage and ensure that the PTO balance on the CoAd report matches the PTO liability account on the Balance Sheet.
• Ensure that invoices uploaded on a regular basis and input with proper coding and Use Tax accruals.
• First draft of the monthly P&L to be routed no later than the 12th day of the month.
• Additional accruals/invoices processed prior to the 15th.
• Submit all taxes online for payment and complete the calculations for Sales/Occupancy/Meal no later than the 15th of each month. The workbook is in SharePoint and a new file should be started each month.

Items due to CFO

• Monthly-bank reconciliation and all supporting documents.
• Monthly-City Ledger and Guest Ledger Aging with notations on issues.
• Monthly-Balance Sheet reconciliation with all supporting documents
• Year End-A&L reconciliation and Journal Entries prior to January 25th

OTHER…