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| Revenue Collection and Recordation |
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One of the key components for the maximization of profits is an accurate system of tracking and recording revenues. At Premium our goal is to maximize every facility’s profitability to ensure the greatest profit for our landlords. This all begins with our employees following our approved cash handling procedures. Each lot attendant has to fill out a daily report to reconcile their cash. That information is then recorded in our Geneva System which tracks the money from the lot to the bank. In the event of a discrepancy, we are able to address the problem immediately and get it resolved.
Monthly contracts are a large part of our business. We utilize the Paris system for processing the bulk of our monthly contract work. Paris generates a monthly invoice for our customers and when they remit their payment it generates a new monthly permit which they then display in their front window. The Paris system helps us to keep track of our delinquencies and helps insure our monthly accounts are up to date.
Premium Parking operates several unattended lots throughout the city. Premium utilizes the Metric Accent 3 ticket vending machine that allows our customers to pay with coin, cash and credit cards. The customer is responsible for putting their purchased ticket in the front window of their car. The Metric Accent 3 keeps a record of all monies collected and prints a receipt when the machine is emptied. The Metric Accent is helping us spot parking trends in a given location. A few of our smaller lots still use the meter boxes that require the customer to put their money into the slot for their designated parking space. These funds are picked up daily, counted and then processed for deposit.
Premium Parking utilizes the ZipPark System in our large valet garages. Zip Park allows the postman on duty to print a ticket for the customer the moment they enter the garage. The ticket is automatically time stamped and dated. The postman can categorize the type of ticket the customer should have and places the customer in that category in all in the matter of seconds. When the customer is ready to leave his ticket is scanned by the cashier and the amount due is automatically calculated. Zip Park is capable of running multiple reports which allows management to access real time information at any time during the day. |
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