The principal model, done correctly.

What happens on a confirmation

DR  110000  Accounts Receivable Control   (gross + VAT)
    CR  410000  Package Sales Revenue          (net)
    CR  220000  VAT Output                     (if standard)
    CR  220100  VAT Output TOMS                (if margin scheme)

DR  501x00  COGS                          (supplier cost)
    CR  201000  Supplier Payable Control       (supplier cost)
    

Revenue recognition on departure

For packages flagged rev_rec_method = 'on_departure', the confirmation journal credits Deferred Revenue (210000). On the departure date, an automated journal moves it to recognised revenue:

DR  210000  Deferred Revenue              (net)
    CR  410000  Package Sales Revenue
    

Package profitability

Every booking item carries its own gross, cost, commission, markup, tax and FX rate. Profitability rolls up by package, by tour series, by departure, by consultant — without ETL.

TOMS / VAT margin scheme

For EU principals, the platform calculates VAT on the margin (sale − cost), not on the gross. In-EU vs out-of-EU components are split per supplier country, and the margin-scheme VAT lands in 220100 separately for reporting.

What you get

• Per-line cost capture with markup tracking
• Deferred revenue waterfall reporting
• Package profitability with FX-translated cost
• TOMS margin-scheme VAT engine (UK and EU)
• Tour series and group allotment inventory
• Vendor voucher and DMC payable management
• Revenue recognition compliant with IFRS 15 / ASC 606

Talk to us about your principal model