How do you read Princess' Stateroom Account Statement?

[ninka26]

Just rec'd the Stateroom Account Statement for a cruise that we opted to take the 100% refund that was offered. (The Ruby Princess SF dock crash cruise)

I am very confused with how to read it. (This would have been my very first cruise)

In particular a "Referred to Corporate Finance Line" which shows a charge. What in the world is that?

Jul Referred to Corporate Finance x,xxx.xx

Then there is a "Folio to Folio Transfer"  

Jul Folio to Folio Transfer: DH  -xxx.xx  under the Account Holder (me)  then Jul Folio to Folio Transfer: Me   xxx.xx under Authorized User (my DH)

 

At the end of the statement it shows the charges equal exactly the credits, with "0" total charges due. So I'm guessing they're saying I don't owe anything but I would still like to understand what they are listing as charges and credits. It's just a little confusing to me.  

 

Is there a tutorial on how to read these statements?

[Guest ldtr]

5 minutes ago, ninka26 said:

Just rec'd the Stateroom Account Statement for a cruise that we opted to take the 100% refund that was offered. (The Ruby Princess SF dock crash cruise)

I am very confused with how to read it. (This would have been my very first cruise)

In particular a "Referred to Corporate Finance Line" which shows a charge. What in the world is that?

Jul Referred to Corporate Finance x,xxx.xx

Then there is a "Folio to Folio Transfer"  

Jul Folio to Folio Transfer: DH  -xxx.xx  under the Account Holder (me)  then Jul Folio to Folio Transfer: Me   xxx.xx under Authorized User (my DH)

 

At the end of the statement it shows the charges equal exactly the credits, with "0" total charges due. So I'm guessing they're saying I don't owe anything but I would still like to understand what they are listing as charges and credits. It's just a little confusing to me.  

 

Is there a tutorial on how to read these statements?

No tutorial, They are basically written like an accounting statement.  When you are paying by one credit card you will see in the second persons listing an entry where they will transfer what they owe to the first persons account and that will be enough to generate a zero balance.  On the first persons you will see an entry showing that transfer (it will say folio to folio transfer and the name of the other person) that will reflect what they owed if there was a balance at the end of the cruise.  While on board the bill will show what the balance is either negative or positive.  Once the cruise ends there will be an entry showing either a charge to a credit card that balances out what is owed, or an entry showing an amount to be refunded balanced out by a line that might might say referred to finance (cannot say for sure).  In all cases once of the ship it will say zero.

 

I suspect if you were running a total negative balance at the end of a cruise the charge saying referred to corporate finance should be to exactly match how much credit was left at the end of the cruise and will be refunded (if the entire credit is refundable) Thus ending in zero. At the end of a cruise all accounts are zero.

 

 

[AZjohn]

2 hours ago, ldtr said:

No tutorial, They are basically written like an accounting statement.  When you are paying by one credit card you will see in the second persons listing an entry where they will transfer what they owe to the first persons account and that will be enough to generate a zero balance.  On the first persons you will see an entry showing that transfer (it will say folio to folio transfer and the name of the other person) that will reflect what they owed if there was a balance at the end of the cruise.  While on board the bill will show what the balance is either negative or positive.  Once the cruise ends there will be an entry showing either a charge to a credit card that balances out what is owed, or an entry showing an amount to be refunded balanced out by a line that might might say referred to finance (cannot say for sure).  In all cases once of the ship it will say zero.

 

I suspect if you were running a total negative balance at the end of a cruise the charge saying referred to corporate finance should be to exactly match how much credit was left at the end of the cruise and will be refunded (if the entire credit is refundable) Thus ending in zero. At the end of a cruise all accounts are zero.

 

 

Clear as mud (lol)🤣

 

Im just joking around because it is me and my brain that just can’t seem to get the “accounting” method of math.

 

Im an engineer and have been able to work with numbers easily all my life and got all A’s in all math classes throughout my education. But one semester in college I took an accounting class and failed the course🤣.

 

Every Princess cruise we have taken I show my wife the folio and have to ask her what the hell is this statement saying. She has zero problems figuring it out😊

[ninka26]

10 hours ago, AZjohn said:

Clear as mud (lol)🤣

 

Im just joking around because it is me and my brain that just can’t seem to get the “accounting” method of math.

 

Im an engineer and have been able to work with numbers easily all my life and got all A’s in all math classes throughout my education. But one semester in college I took an accounting class and failed the course🤣.

 

Every Princess cruise we have taken I show my wife the folio and have to ask her what the hell is this statement saying. She has zero problems figuring it out😊

I previously managed a $2.5 million budget for a not for profit and the "accounting" math just is too confusing for some reason. Couldn't they just add and subtract like normal math? LOL.

[ninka26]

13 hours ago, ldtr said:

No tutorial, They are basically written like an accounting statement.  When you are paying by one credit card you will see in the second persons listing an entry where they will transfer what they owe to the first persons account and that will be enough to generate a zero balance.  On the first persons you will see an entry showing that transfer (it will say folio to folio transfer and the name of the other person) that will reflect what they owed if there was a balance at the end of the cruise.  While on board the bill will show what the balance is either negative or positive.  Once the cruise ends there will be an entry showing either a charge to a credit card that balances out what is owed, or an entry showing an amount to be refunded balanced out by a line that might might say referred to finance (cannot say for sure).  In all cases once of the ship it will say zero.

 

I suspect if you were running a total negative balance at the end of a cruise the charge saying referred to corporate finance should be to exactly match how much credit was left at the end of the cruise and will be refunded (if the entire credit is refundable) Thus ending in zero. At the end of a cruise all accounts are zero.

 

 

Thank you for the explanation which (as you described it) helps me make some sense of what was sent.  

[ggprincess2004]

Referred to corporate finance means they owe you money and are going to send you a check in a little while, like 4 to 8 weeks. The envelope will resemble junk mail, and the return address will have a reference to Princess on the second line.

 

I'm a retired CPA and have to keep reminding myself that the debits and credits they are posting are from their perspective, not the customer perspective. I agree that they could run a single column with additions and subtractions to make it easier to understand quickly. 

[ninka26]

4 hours ago, ggprincess2004 said:

Referred to corporate finance means they owe you money and are going to send you a check in a little while, like 4 to 8 weeks. The envelope will resemble junk mail, and the return address will have a reference to Princess on the second line.

 

I'm a retired CPA and have to keep reminding myself that the debits and credits they are posting are from their perspective, not the customer perspective. I agree that they could run a single column with additions and subtractions to make it easier to understand quickly. 

Thank you! 

[konatyme]

I agree that, for me anyway, the folio statements are almost impossible to figure out. I will save this explanation and maybe it will help next time!

[hobbyfarmer2]

Here is the way we read it, hopefully in simple terms.  The initial account shows all your refundable and non refundable OBC, credits such as prepaid excursions, and any day one applicable charges.  As each day goes on carges appear for items such as gratuities, excursions, wifi, alcohol, spec dining....etc.  These charges drain your non-fefundable OBC first, followed by your refundable OBC next.  The bill never makes sense on day one but it does by the last night when we print it up using the printer at the customer desk.  It is also slid under your door by the steward on last night.

[ninka26]

31 minutes ago, hobbyfarmer2 said:

Here is the way we read it, hopefully in simple terms.  The initial account shows all your refundable and non refundable OBC, credits such as prepaid excursions, and any day one applicable charges.  As each day goes on carges appear for items such as gratuities, excursions, wifi, alcohol, spec dining....etc.  These charges drain your non-fefundable OBC first, followed by your refundable OBC next.  The bill never makes sense on day one but it does by the last night when we print it up using the printer at the customer desk.  It is also slid under your door by the steward on last night.

Thank you! This is very helpful.

[t&atravel]

37 minutes ago, hobbyfarmer2 said:

It is also slid under your door by the steward on last night.

This is no longer done.  The final folio is emailed after the cruise is completed.  It also shows on the app until you disembark.  It is recommended that you take a screen shot (or get a hard copy) on the final day before you leave the ship as there have been reports of errors and erroneous charges on the last day.

[ninka26]

34 minutes ago, t&atravel said:

This is no longer done.  The final folio is emailed after the cruise is completed.  It also shows on the app until you disembark.  It is recommended that you take a screen shot (or get a hard copy) on the final day before you leave the ship as there have been reports of errors and erroneous charges on the last day.

Good to know!

[ninka26]

Thank you to everyone for your helpful responses. I think my source of confusion was not understanding the definition of terms that Princess uses (Folio to Folio Transfer and Referred to Corporate Finance especially!) Thank you again to everyone for being so helpful! It is much appreciated! I've never cruised before and the members on this board have been wonderfully helpful.

[gah_cruise]

1 hour ago, hobbyfarmer2 said:

 It is also slid under your door by the steward on last night.

Not on my cruises on Sky

[Rick&Jeannie]

It's very easy to get a hardcopy of your statement...as often as you like. There will be a self-service kiosk near guest services where you scan your medallion and it will give you a printed copy.

[neverbeenhere]

I just pay the bill.