How to Record Private Tutor Placement Fees
Accounting for the referral and placement fees earned by a family office for securing specialized educational staff for clients.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Client Receivables | Asset | 7,500.00 | - |
| Concierge Education Revenue | Revenue | - | 7,500.00 |
💡 Accountant's Note
Recognize revenue upon the successful placement and signing of the employment contract between the client and the tutor.
Practitioner & Systems Framework
💻 ERP Architecture
Record in the Concierge Services sub-module of the Wealth Management platform.
⚠️ Audit Flags
High frequency of placement cancellations or refunds.
📄 Required Documentation
Executed placement agreement and tutor employment verification.
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