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SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Join us
How to clear Deferred or Unbilled amounts when Invoicing doesn't match Revenue
We use % complete to recognize services revenue. We bill a lot of our services 50% upfront and 50% upon completion. However we do have a few instances where we might recognize 75% of the revenue for a project and have the customer decide they don't want to continue. If we have billed 50% of the line and legitimately recognized 75% of the revenue as we completed the work and earned it. How do we clear the 25% unbilled revenue from the balance sheet? We legit earned the revenue, but if we close it out it leaves a balance orphaned on the balance sheet.
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