How to Record SBIR Phase III Revenue
Recording revenue for Phase III contracts which involve commercialization of technologies developed under SBIR Phase I and II.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable | Asset | 500,000.00 | - |
| Commercial Contract Revenue | Revenue | - | 500,000.00 |
💡 Accountant's Note
SBIR Phase III revenue is typically treated as standard commercial or government production revenue rather than grant-like funding, following delivery of commercialized products or services.
Practitioner & Systems Framework
💻 ERP Architecture
Map these contracts to standard production revenue accounts rather than grant revenue accounts.
⚠️ Audit Flags
Transition from R&D (Phase II) to production (Phase III) revenue recognition.
📄 Required Documentation
Phase III Contract award and proof of Phase I/II derivation.
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Discussion & Community Questions
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