Revenue groups and categories serve as indispensable tools for comprehending and dissecting your revenue streams with precision and clarity.
Leveraging these groups and categories effectively and meticulously allows you to monitor your revenue in a segmented and informative manner. This segmented analysis presents opportunities for in-depth scrutiny of the revenue performance of the goods and services you offer. Moreover, when integrating accounting or business intelligence software with Clock PMS+, the role of revenue groups and categories becomes paramount in shaping the information gathered from Clock PMS+ and the final data these systems present to you.
Each pre-set Charge Template or manually posted charge must belong to a Revenue Group.
Revenue groups define the broader type of goods or services and are immutable in the system. They encompass, among others, Rooms, F&B, Extra, Other, and more.
Assigning your services and items to specific revenue groups is a critical decision-making process, as it not only furnishes you with revenue performance data, but also contributes to Key Performance Indicators (KPIs) computed by the system. For instance, charges in the 'Rooms' Revenue group feed into the calculations of ADR and RevPAR.
Revenue categories supplement the revenue groups, providing opportunities for more granulated reporting. While groups denote revenue generated by a broader class of service (e.g., Extra), relying solely on groups may not yield the degree of detail you desire in your revenue reports.
However, with categories, which you have the freedom to create, you can segment the revenue classification to obtain the highest degree of detail. For instance, crafting categories such as 'Parking', 'Bicycle Rent', 'SPA', etc., under the 'Extra' group offers the flexibility to track both total 'Extra' revenue and revenue broken down by these categories.