Unbilled Receivables / Unbilled Revenue Journal Entry - Definition And Meaning
What Is Unbilled Revenue In Accounting / Unbilled Revenue Adjusting Entry / Is Unbilled Revenue A Receivable? Unbilled Revenue means that the company earned the revenue (e.g., fees earned) for the goods sold or services rendered to clients but still the bill is not invoiced to clients for the period. It is a Revenue Receivable from clients / customers against the goods sold or services rendered to them. Example If a company completed a project for a client on 5 th September, 2020, but the bill is invoiced to him on 10 th September, 2020, then from 6 th September to 9 th September, the company records unbilled revenue for the services delivered / rendered to client. Unbilled Accounts Lists / Examples Unbilled Fees, Unbilled Legal fees, Unbilled Accounting Fees, etc. There are two possible journal entries to record for unbilled revenue, which are shown below: 1. When the Bill is not invoiced to Clients / Customers Unbilled Receivables Journal Entry...