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How is deferred revenue connected to accounts receivable.
Deferred revenue in accounts receivable. In accrual accounting revenue is only recognized when it is earned. It is like being prepaid for something. As a result the unearned amount must be deferred to the company s balance sheet where it will be reported as a liability. An example would be a magazine company receiving payments for a year subscription if its magazine.
If a customer pays for good services in advance the company does not record any revenue on its income statement and instead records a. Deferred revenue is money received by a company in advance of having earned it. Deferred revenue is money you have received for good or services that you have not yet sold or performed. In other words deferred revenues are not yet revenues and therefore cannot yet be reported on the income statement.
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