Deferred Revenue



  • Official comment
    Benjamin George

    Hi Shaun Teo,

    Thank you for the question.

    You may explore the following:

    • When issuing the invoice, have the invoice recorded under your Deferred Revenue account.
    • When the service is rendered, create the following journal entry: DR - Deferred Revenue, CR - Sales Income.

    Travis Tai - Community Manager

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  • Shaun Teo

    Hi Travis,

    Thank you for the response that does help.

    Just to confirm, for Step 1 where I issue the invoice under my Deferred Revenue Account - this means that when I select the Item when creating the invoice, I select my Deferred Revenue Account and then key in the name and description accordingly? Instead of selecting one of my existing Products / Services.

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  • Benjamin George

    Yes, you may do that. Alternatively, you may create a duplicate product/service and have it setup to the deferred account. That way you will still be able to issue your invoices quickly.

    Travis Tai - Community Manager

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