Test representative transactions
| Transaction | Accounting question | Required link |
|---|---|---|
| Client deposit | Whose money is it and when is income recognized? | Client, trip, booking, payment processor, and liability or income account |
| Supplier payment | Is the agency paying, passing through, or recording only commission? | Supplier, booking, currency, and settlement |
| Cancellation or refund | Which balances reverse and who still bears a fee? | Original payment, supplier terms, processor, and client communication |
| Commission receipt | Expected versus received, by booking and supplier | Booking, host statement, bank deposit, and agent split |
| Contractor payout | What is owed to the advisor and how is it reported? | Commission, split, adjustment, approval, and tax record |
Draw the money map before configuring accounts
Start at traveler authorization and trace each amount through processor, agency or host, supplier, refund, commission, contractor payout, bank, and tax return. Mark which entity owns each account.
Ask an accountant how your facts should be recognized and presented. Travel-industry labels do not replace accounting treatment.
Compare products with the same ledger test
QuickBooks, Xero, and FreshBooks describe different mixes of accounting, invoicing, payments, reporting, and integrations. Use current vendor documentation to create a shortlist, then enter the same representative transactions in each candidate or review them with your accountant.
Test bank reconciliation, multi-currency if relevant, dimensions or classes, attachment and audit trail, user permissions, reporting, import, export, and integration behavior.
Design a booking-to-bank monthly close
Reconcile bank and processor balances, client liabilities, supplier payables, refunds, expected commissions, received commissions, host statements, advisor payouts, and stale bookings. Exceptions should link back to a booking owner.
Document who closes, who reviews, what evidence is attached, and how old exceptions escalate. Good software cannot compensate for an undefined close.
Your action plan
- Draw the complete money flow.
- Confirm accounting treatment with a qualified professional.
- Run representative transactions in shortlisted tools.
- Verify audit trail, permissions, import, and export.
- Write a monthly booking-to-bank close checklist.