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.