Difference Between Unbilled Receivables And Revenue
Unbilled Receivable is recorded for those revenue earned by the business against the goods sold or services rendered but the payment is not received from clients and also from the company’s business, the bill is not invoiced to customers or clients while a Revenue is the price of goods sold or services rendered to customers in the current accounting period. Unbilled Accounts Receivable is a current asset shown on balance sheet while revenue is recorded in Income Statement as it is a temporary account. Unbilled Receivables is a permanent or Balance Sheet Account while revenue accounts are nominal or Income Statement Accounts . Unbilled Receivables is not closed until the business is closed while the revenue accounts are closed at the end of the accounting period as these are temporary accounts.