I am a tour operator. I receive money from clients most of which is forwarded on to different overseas tour operators leaving 10-20% which is my commission and is transferred to my P&L as income.
Obviously the money held for clients is a liability and held in trust. I need to receive money into a client file from the client and pay money out of the client file to overseas operators. These transactions belong in the balance sheet under liabilities but I need files for each client showing incoming receipts and outgoing payments. The final payment will be my commission which will go to income in the P&L.
I must not get client money mixed up with the company’s money as this is the quickest way to lose control and go broke.
The structure you describe is very good and as far as the BS Liabilities Trust Account you could use the Customer Credits accounts. Create your Clients under the Customers tab.
When you receive money from the client enter their name as Payer and the Account as Customer Credits
When you pay the tour operator the Account would be Customer Credits - Customer
Then when you click on the Customers balance you can see the details