Accrued Revenue

Accrued Revenue

Recording Revenue I’ve earned but haven’t yet collected.

I charge my client $500 a month to do his accounting and bill him quarterly. At the end of one month he owes me $500, but I haven’t gotten a penny because I won’t send the bill until the end of the quarter. I have $500 in accrued revenue.

https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/accrued-revenue/