Accrued Revenue Accounting Definition
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Accrued revenue is the income that is recognized by the seller but not billed to the customer.
Accrued revenue accounting definition. Accrued revenue is not recorded in cash basis accounting since revenue is only recorded when cash is received from customers. Accrued revenue consists of income that has been earned from customers but no payment has been received in other words a good or service has been provided to a customer but the customer hasn t paid for it by the end of the accounting period. It is treated as an asset in the balance sheet and it is normal in every business. Understanding accrued revenue.
Accrued revenue is the product of accrual accounting and the revenue recognition and matching principles. Accrued revenues is the revenue that the company has earned in the ordinary course of business after selling the good or after the provision of the services to the third party but the payment for which has been not been received and is shown as an asset in the balance sheet of the company.
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