Glossary and Common Acronyms (Index) - Visual Matrix PMS

Glossary and Common Acronyms (Index) - Visual Matrix PMS

1-10  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z

1-10

1099
The 1099 form is used to report to the US government income earned by travel agents as commissions, and income earned by owners of hotel condo units (when OPV_<version number> OPERA Vacation Ownership System license is active) after any deductions but before any applied fees.

2Way
A 2way is a type of communication that goes both way between a PMS and a Channel Manager. In the case of a 2way, the PMS will send rates and inventory to the CM and the CM will send back reservations to the PMS. The opposite would be a one way, where the CM would only send reservations to the PMS but then the hotel would have to close its inventory into each OTA portal individually. In Visual Matrix, every CM offered is a 2way (BW, Vertical Booking, Siteminder, SynXis, Travelclick, Innlink, Windsurfer).

7P

7T

A

Account Details

Accounting

Accounting code

Accounting Flow

Accounting Periods

Activities

ADR

Advance Deposit
Advance deposits are accounts payable found in the city ledger. When a guest pays a deposit prior to registration, the hotel incurs an account payable to the guest for services to be rendered in the future. Advance deposits from all guests are collected in a common advance deposit account. This amount is then transferred back to the guest's front-office account (folio) upon check-in.

Aging Report

Alerts

Allocations

Anti-virus

Arrivals

Assa Abloy

Audit

Authorization

Availability

Average Daily Rate (ADR)
The ADR is a statistical unit that represents the average rental income paid per occupied room in a given time period. It is calculated by dividing the room revenue by the number of rooms sold.

B

Balance

Base Rate (aka Rack Rate)
Base rates (previously known as "default rates") show automatically for any dates not covered by tier or peak rates. They are in place for every date to have a minimum rate.

Batch Report

Block

Book Res

Broker

Browser

Bulk

BW PKI

BWR

C

Call Accounting

Cancel

Cashiering

Cendyn
Cendyn is a catalyst for digital transformation in the hospitality industry to drive profitability and guest loyalty through an integrated technology platform that aligns revenue, eCommerce, distribution, marketing, and sales teams with centralized data, applications, and analytics, so they can capture more demand and accelerate growth. Simply said, it is a CRM application that has an API interface with Visual Matrix.

Charge

Check compare

Check out

Check-in

Checked out with balance

Chilkat

Chrome

City Ledger
The city ledger is the collection of accounts belonging to non-registered guests. This is distinct from the Guest Ledger, which is the collection of accounts receivable for guests who are currently registered. The vast majority of accounts in the city ledger are accounts receivable, exception is for the advance deposit account which is an account payable. Instead of billing separately for each individual service that the hotel provides, the charges are accumulated in the company's city ledger account. The hotel then periodically sends the bill to the company.

Client Station

Close

Cloud

CM (Channel Manager)

A Channel Manager is a plateform connected to the PMS that will connect the hotel to hundreds of online distribution channels in real-time. Visual Matrix is interfacing with BW, Vertical Booking, Siteminder, SynXis, Travelclick, Innlink and Windsurfer.

Cmd Prompt

Commission

Commissions Payable

Company

Competitor Data

Confirmation

Credit Card Authorization
A credit card authorization is an approval from a credit or debit card issuer (usually a bank or credit union) that states the cardholder has sufficient funds or the available credit needed to cover the cost of a transaction they're using a card to complete. It is not a charge. An authorization will always show in the "pending" section of a credit card statement; As where a charge will show in the "settled" section.

Credit Card Batch

Credit Card Charge
In Visual Matrix, the step between an authorization and the credit card charge ONLY happens when the payment is posted on the folio and goes through the credit card batch during the night audit.

Credit Card Chargeback
A chargeback is an action taken by a bank to reverse electronic payments. It involves reversing a payment and triggering a dispute resolution process. Generally, chargebacks occur between a merchant and a credit card issuing bank or a consumer. However chargebacks are sometimes issued against consumers, for example in the case of an erroneous ATM deposit. Usually chargebacks are used to reverse a payment in the case of a billing error, unauthorized credit card use or failure to deliver a product or service. There are no official way to manage charge backs in Visual Matrix. But as it is consider as a lost, you can create an accounting code that will offset the payment and then transfer the amount to a CL Chargeback Account that will then be written off.

Credit Card Configuration

Credit card number

Credit Card Settlement
A batch settlement is the process for a merchant to receive their funds of their submitted batch. After a batch is submitted, the payment processor sends the transaction to the issuing bank. The issuing bank verifies the transactions. In Visual Matrix, this happens every night during the night audit. Once a transaction has been through a batch settlement and is settled, it cannot be override or voided.

Credit Card swipers

Credit Limit

CRM (Customer Relationship Management)
CRM is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. In this area, Visual Matrix has an interface with Cendyn.

CRS (Central Reservation System)
A central reservation system or CRS is a platform used in the hotel industry to centralize reservations, distribution, rates and inventory in real time. It is a key tool in order to streamline the operational processes behind running a hotel because it connects and centralizes information from the property management system, different distribution channels, and call centers all in one platform. The CRS acronym is fairly interchangeable with GDS.

CRS Comments

CTA

D

Daily Rates

Daily Report

Database

Default Settings

Departures

Deposit Details

Digital Alchemy

Direct Bill

Discrepancy

DNR

Documentation

Dormakaba

Downtime Reports

Duplicate

E

EDS (Electronic Data Services) (Best Western Hotels)
Is a Best Western department that handles everything to do with loading data into MW for the two-way. That includes room types, rate plans, GTD/CXL policies, and even rates, though things that can be transmitted via the interface should only be done through the interface.

Elavon

Electronic Locks

Emails

EMV (Europay Mastercard Visa)
EMV is a payment method based upon a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them. EMV originally stood for "Europay, Mastercard, and Visa", the three companies that created the standard.

Encryption key

Engineer

Enroll

enRoute Payment
enRoute was a credit card issued by Air Canada until 1992, when the airline sold its credit card division to Diners Club. The card was developed only for Air Canada transactions, but over time, the card was expanded into a more general credit card for business travellers, being accepted by hotels, restaurants, and other merchants. It offered such features as in depth transaction details and sorting of expenses by category. In 1989, enRoute card became the first credit card to earn its cardholders Aeroplan miles with their purchases. In 1992, Air Canada sold the enRoute card business to Diners Club.

Envionment

Error

Escalation

Events

Expedia

Express Checkout

Extend

F

F12

FDMS

Fixed-rate

Flat rate

Folio
A folio is an account showing charges or payments made during a guest's stay. An Open Folio is a guest account that allows the guest to check-out with an outstanding balance. For example, phone calls, minibar, laundry services, room service, valet, etc. anything that is billed to your room. In Visual Matrix, there is a difference between a Folio and an Invoice. Although both mean the same, an Invoice is used in the Accounting City Ledger side and is what is send to an city ledger account owner. An invoice can include one or multiple folios.

Forecast Reports

Free night stay

Front Office

FX

FX2

G

GDS (Global Distribution System)
A Global Distribution System is a computerized system that is a single access point for receiving reservations and for distributing rates and inventory.

General Ledger (see General Ledger Journal)
A general ledger records and processes a firm’s financial data, taken from the general journal. It helps in the accurate creation of income statement and balance sheet as per standard accounting norms. The description could be an expense, revenue, liability, asset or equity entry. There are many examples of a general ledger as they record every financial transaction of a firm. Furniture account, salary account, debtor account, owner’s equity, etc., are some examples. In Visual Matrix, the General Ledger Accounts can be created in "Management > Accounting Settings > Report Heading > General Ledger Accounts" and can be viewed in "Management > Accounting Settings > G/L & Report Def".

General ledger Journal (see General Ledger)
The financial entries of a General Ledger are first recorded in a General Journal. For example, goods purchased with cash will be recorded in the general journal as a journal entry. The journal entry will debit goods as an asset and credit cash as it will be going out or reducing to purchase the goods. After the journal entry, the debit and credit amounts will be taken to the respective ledger accounts of cash and goods. Here the entries will be balanced to be taken to financial statements. As such, the journal and ledger both have the most crucial roles in an accounting process to ensure that no transaction is missed out. For any details on the transaction, confusion or rectification, accountants refer to these two books of accounts.

Gmail

Group rate

Groups

Guest Ledger (aka Front Office Ledger or Transient Ledger)

The guest ledger is the collection of all accounts receivable for currently registered guests. It can also be defined as the collection of all guest folios. A folio (billing receipt) is the account of an individual guest who is currently registered. The guest ledger is distinct from the city ledger (see below).

Guest Profile

Guest Texting

Guest type (DNR, VIP)

H

Hard Close

History Reports

Host Entry

Hotel Status

Hotelier

Hotlist

House Account

Housekeeper

Housekeeping

Housekeeping Sections

Hyper Terminal

I

IATA

ID Scanner

Image Call Accounting

In-Room Movies

Individual reservation

Innlink

Interface Configuration

Internal Comments

Internet

Internet Charges

Internet Speed

Inventory

Invoice

Invoice History

IP Address
IP stands for "Internet Protocol," which is the set of rules governing the format of data sent via the internet or local network. In essence, IP addresses are the identifier that allows information to be sent between devices on a network: they contain location information and make devices accessible for communication.

K

Keystore

L

Ledgers

Local IP

Logs

Lookup

Looping

Loss of business

Lost and Found

M

MAC Address
A MAC (Media Access Control) address, sometimes referred to as a hardware or physical address, is a unique, 12-character alphanumeric attribute that is used to identify individual electronic devices on a network. An example of a MAC address is: 00-B0-D0-63-C2-26. It is a unique identifier assigned to a network interface controller for use as a network address in communications within a network segment. This use is common in most IEEE 802 networking technologies, including Ethernet, Wi-Fi, and Bluetooth.

Maestro Payment
Mastercard Maestro is a brand of debit cards and prepaid cards owned by Mastercard that was introduced in 1991. Maestro is accepted at around fifteen million point of sale outlets in 93 countries. Maestro cards can only be used as debit cards, meaning they only have access to the funds on the owner's bank account. A Mastercard, on the other hand, can be issued as a debit card or a as a credit card, where purchases made on the card are billed to the customer at the end of the month.

Magtek DynapaD

Maintenance

Maintenance User

Management

Manual Tiering

Mapping

Market Segment Report

Marketing

Member Web

Merchantlink

Message Queues

Migration

Mini POS

MLOS

Modification Log

Moneris

Month to Date
Statistic from the first of the current month to the current date.

MOP

N

National Payments

Network

Night audit

Night Audit Reports

O

Occupation

Office 365

Open

Operator

OTA

Out of Order

Outlook

Overbook percentage

Override Password

Ownership

OBP (Occupancy Based Pricing)
The OBP-Occupancy Based Pricing is a pricing policy based on the number of guests (adults/children) allowed in a room. The other pricing is the PDP, Per Day Pricing, where your pricing is based per night, whatever the number of guests in the room.

P

PagoPA Payment
PagoPa is a payment method, introduced by the Italian Code for Digital Administration and by the Decree-law 179/2012, which guarantees safe and reliable electronic payments to the public administration. PagoPA is the digital platform that allows to make payments to the Public Administration and beyond, in a transparent and intuitive way.

PAL Payments
PayPal is an online payment system that makes paying for things online and sending and receiving money safe and secure. When you link your bank account, credit card or debit card to your PayPal account, you can use PayPal to make purchases online with participating stores.

Payment History

Percentage (%) of Base
The % of base compares the current ADR to the base rate ADR applicable at that moment.
Formula: [(ADR for the day) divided by (the applicable base rate at the moment of the reservation) x 100].

Percentage (%) of Tier
The % of tier compares the current ADR to the tier rate ADR applicable at that moment.
Formula: [(ADR for the day) divided by (the applicable tier rate or peak date rate at the moment of the reservation) x 100].

PBX (Private Branch Exchange)
A Private Branch Exchange is a telephone system within an enterprise that switches calls between users on local lines while enabling all users to share a certain number of external phone lines. It is a multiline telephone system typically used in business environments, encompassing systems ranging in technology from the key telephone system to the private branch exchange.

PC Name

PDP (Per Day Pricing)
See OBP.

Peak date

Percentage discount

Petty Cash

Pickups

Ping Test

PM (Preventative Maintenance)
A Preventative Maintenance (or Preventive Maintenance) is maintenance that is regularly and routinely performed on physical assets to reduce the chances of equipment failure and unplanned machine downtime that can be very costly for maintenance teams and facility managers. In Visual Matrix, Preventative Maintenance can be managed from the Maintenance department.

PMS (Property Management System)
A Property Management System is a software application for the operations of hospitality accommodations and commercial residential rental properties. A PMS provides a centralized computer system to organize, schedule and perform the day-to-day functions and transactions involved in accommodations businesses. 

Port

POS Printer

Post room and Tax

Pre-audit Checklist

Pre-Registered

PrePrint

Preventative Maintenance

Primary backup

Print Statements

Privileges

Proforma

Property id

Public IP

R

Rate Levels
Rate levels is a feature to group rate codes/discount codes (Level A, B, C,... H). You can assign rate levels to rate/discount codes in Management > Rates > Discounts > Setup > Rate Levels. Only Best Western Channel Manager reads rate levels. Any other Channel Manager read rate codes individually.

Rate Private

Rate Code (aka Discount Code)

Reason for Stay

Rebuild Res Matrix

Reconcile Checks

Referral

Refund

Registration

Regrets

Reinstall

Reinstate

Remote connection

Report

Reprint invoices

Res Report

Reservation Status

Reservations

Restore

Retrieve Old Folio

Revenue Management Live

RevPAR (Revenue Per Available Room)
The REVenue Per Available Room can be calculated by:
- multiplying the hotel's Average Daily Room Rate (ADR) by its Occupancy Rate (aka the number of rooms available for sale in the time period).
- dividing the hotel's total guest room revenue by the room count and the number of days in the period being measured.
- dividing the hotel's total guest room revenue by the total number of rooms available in the hotel (rooms out of order included or not).
Since this measurement is only for a point in time (a day, month, or year), it is most often compared to the same time frame. It is often used in comparison to competitors within a custom-defined market, trading area, or DMA or a self-selected competitive set as defined by the hotel's owner or manager.

RMS (Revenue Management System)
A Revenue Management System, or RMS, is a software solution, which allows to carry out important revenue management tasks more efficiently and effectively. It will make use of data from a hotel, and from the market at large, in order to help to make more informed decisions. Through its feature "Revenue Management Live!", Visual Matrix can connect with the RMS OTA Insight to import competitor rates in the PMS.

Room and Tax

Room Chart

Room Discrepancy

Room Number

Room Rack

Room Rates

Room Status

Room Type

S

Sabre

Sales and Marketing

Seasons
There is no one set factor for determining how much a hotel room will cost. Rather, hotel pricing is determined by any combination of the following factors: location, seasonality, demand, star rating, amenities, value of services and other hotel competition. In Visual Matrix, a Season is a period with a set of rates. Each season would either have a different base rate (aka rack rate). For our Best Western users, a new season can be created for a short time (couple days) to apply specific guarantee or cancellation policies through the BW 2Way.

Secondary backup

Serial Interfaces

Serial number

Server

Service (Windows) 

Service History

Share Charges

Shift4

Shortcut

Single Sign on

Siteminder

SMTPQ

Soft Close

Special requests

Split Charges

SSL (Secure Sockets Layer)
An SSL Certificate is a Digital Certificate that provides authentication for a website and enables an encrypted connection. Visual Matrix uses SSL Certificates for Merchant Link credit card processing and for the Best Western 2 Way Interface. The Best Western Certificate has to be renewed every 2 years. If you are on the Desktop version, Visual Matrix Client Experience will contact you to upload the new Certificate in time.

Static IP

STR

Sub-Folio

Supervisor

Supply Usage

Sync

Synxis

T

Tax

Tax-Exempt

TCP (Transmission Control Protocol)
A Transmission Control Protocol (TCP) is a standard that defines how to establish and maintain a network conversation by which applications can exchange data. TCP works with the Internet Protocol (IP), which defines how computers send packets of data to each other.

Ticket

Time Allotment

Tip Sheet

Tokenization

Tokens

Transaction link

Transaction log

Transfer Charges

Travel Agent

Twilio

U

Unblock

Uninvoiced items

Unprocessed Reservations

URL

V

Vertical Booking

VIP

Visanet

VM Mobile

VM Tokens

VM University

Voice Authorization

Void

W

Wait List

Warranty

Weekly Rates

Wi-Fi

Windows Updates

Work Orders

X

XML

Y

Year to Date
Statistic from the first of the current year to the current date.

Yield Management
Yield management in the hotel industry is a dynamic pricing strategy for maximizing revenue from a fixed, time-limited inventory, such as hotel rooms. It's based on understanding and predicting consumer behavior to influence future hotel guests and generate maximum revenue per available room (RevPAR). Simply explained, it is when the hotel adapts its pricing based on its occupancy rate, local events and competition rates.

Z

Zoho Assist
Zoho Assist is the application that Visual Matrix Client Experience team uses to remotely connect to its clients computers. The application establish a secure web-based, on-demand connections with remote PCs, laptops, mobile devices, and servers with ease. Visual Matrix does not use any other application.



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