Professional Services
Time-and-Materials Revenue — Weekly Billing
Recognizing weekly revenue under a T&M engagement where the firm bills hours at agreed rates.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable (T&M Invoice) | Asset (+) | 7,200.00 | - |
| Professional Fee Revenue (T&M) | Revenue (+) | - | 7,200.00 |
💡 Accountant's Note
Under a T&M contract, each hour worked is a satisfied performance obligation and revenue is recognized as hours are delivered. 40 hours × JOD 180/hr = JOD 7,200. Invoicing is triggered by the approved timesheet.
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