Unbilled Fees Earned Journal Entry
Unbilled fees earned is a Revenue which is earned by the corporation by rendering services to clients but the bill is not invoiced to them. The journal entry to record is shown below: Unbilled Fees Receivable a/c XXX Fees Earned a/c XXX (Fees Earned But Invoice Not Issued To Clients) Unbilled fees receivable is a current asset and shown on balance sheet while Fees Earned is a revenue account and recorded in income statement. When the corporation / company issued invoice to clients, then we close Unbilled Fees Receivable Account and transfer it to Fees Receivable Account .