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Unbilled Revenue represents the amount of revenue that is unbilled once a billing and revenue post has been done. Deferred Billings represent those items (time, expense, fixed price items) that have been deferred on an invoice once an invoice has been created. Deferred Revenue represents revenue amounts that have yet to be recognized. The amount of these accruals are recorded on the Company's balance sheet, and should be reconciled periodically to the Billing & Revenue Summary Report.

  1. Run the Billing & Revenue Summary Report showing Billings and Revenue for the period ending with the last day of the fiscal period (Reports > Project Accounting Reports > Summary Reports).



  2. Compare the Total Unbilled and Deferred Revenue to the Unbilled account ending balance on the Balance Sheet by running the General Ledger Summary Report for this account.



  3. Enter a General Ledger Journal Entry to record any variance amount.


 

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