Recurly now offers an account hierarchy feature which should function in this manner. When using Customer Account Hierarchy, you have the ability to link a parent account to a child account. You also have the option configure all charges created from the child account to be billed and recorded under on the parent account. Please note that this feature requires Credit Invoices, Only Bill What Changed, and Subscription Billing Terms be enabled on your site before it can be enabled.
If you would like to have the feature enabled, please feel free to contact our support team directly at support@recurly.com