Construction
Under-Billing (Revenue Earned Exceeds Billings)
Recording the asset when revenue earned based on completion exceeds the amount invoiced to date.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Costs and Estimated Earnings in Excess of Billings (Asset) | Asset (+) | 75,000.00 | - |
| Contract Revenue | Revenue (+) | - | 75,000.00 |
💡 Accountant's Note
Under-billing (or 'unbilled revenue') occurs when work is done but invoicing lags. This is a key balance sheet item in construction — it represents earned but not yet billed revenue and is effectively a receivable.
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