Hi,
I would love to get clarifications from this community.
We have a big corporation client that's due to the accounting bureaucracy in making payment to their vendors, they hired us to be their 3rd party payor for their vendors.
So the way it works is they make payment to us (retainer) and they ask us to use the money they send to us to pay their vendors. Now, these vendors are not service provider vendors. They provide marketing booth etc. for our client. And the payable amount is most the time large amount, larger than the service hours we provide for the client.
My question is can the money our client pay us be lumped under the same retainer category, regardless of what it's used for, service provided by us and/or their vendors booth etc OR it's better to separate the two?
Can the money used to pay for the client vendor for marketing booth be called 'retainer'?
Thanks in advance!
Mutiara
