Company accounts

Selling to organisations that pay on terms

Schools, companies and partner agencies rarely pay by card at checkout. They book, receive an invoice and pay it within agreed terms, often 30 days. Tracking that in a spreadsheet beside your booking system means chasing the wrong people and losing sight of who owes what. Company accounts lets these customers book on account, up to a credit limit you set, and keeps the receivables in one place.

Each account holds the company’s name, legal name, tax ID, address, contact, billing email, phone and currency. Payment terms range from due on receipt to net 90, with 7, 14, 15, 30, 45 and 60 days in between, and you can set a credit limit.

How a booking goes on account

Your team puts a booking on a company’s account from the booking in the console. The booking is then billed to the company, its balance falls due on the account’s terms from that day, and invoices are reissued to the company. Before anything changes, Tourtify checks that the booking is live, that its currency matches the account’s, and that it stays within the credit limit; two bookings at once can’t both slip under it.

A worked example: a school has a credit limit of 10,000 and already owes 7,500 for a spring trip. A new booking for 3,000 would take it to 10,500, so Tourtify refuses it and says exactly how much of the limit is used. Once the school pays the spring trip, the new booking goes through.

Travellers on those bookings are not chased: balance reminders to the traveller are switched off, and a booking on account is never cancelled for paying late. The company is chased instead, through statements.

Ageing and statements

Each account shows what it owes now and how late it is, in ageing buckets: not yet due, 1 to 30 days, 31 to 60, 61 to 90 and over 90 days late. Open items list each booking with its reference, traveller, tour, date, total, paid, owed and due date, oldest first.

Statements for a period show activity, open items and ageing, as a PDF to send or a CSV for your accountant. You can email one whenever you like, and while an account has overdue bookings its billing email receives a statement automatically, every 7 days by default. Add a note to statements with how to pay you, such as your bank details and the reference to quote.

Setting up Company accounts

1. 1Switch on Company accounts. Turn the plugin on and choose the default payment terms for new accounts.
2. 2Create each account. Add the company’s legal details, billing email, currency, terms and credit limit.
3. 3Write your statement note. Explain how to pay you and which reference to quote.
4. 4Put bookings on account. From each booking in the console, choose the company account that pays for it.
5. 5Set the overdue rhythm. Choose how often overdue accounts receive a statement, or switch reminders off for an account.