I am a travel agent. Invoices are sent to show how much a client owes for the trip. Payments go directly to the vendor to pay for the trip not me. How do I track this?
I am a travel agent. Invoices are sent to show how much a client owes for the trip. Payments go directly to the vendor to pay for the trip not me. How do I track this?
I want to know how to separate vendor payments and my commission. Right now it looks like I've made way more than I have.
I am a travel agent. Invoices are sent to show how much a client owes for the trip. Payments go directly to the vendor to pay for the trip not me. How do I track this?
Collecting payments for the vendor, less your commision is a pass through type of thing
payments received should post to a liability account not an income account
then when you pay the vendor, the check detail looks like
line one - the liability account and the full amount due
line two - your commission income account and the amount of your commission as a negative number
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