Professional Services
Accruing Unbilled Revenue (Work-in-Progress)
Recording revenue for work performed this month that hasn't been officially invoiced yet.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Unbilled Receivables | Asset (+) | 3,500.00 | - |
| Service Revenue | Revenue (+) | - | 3,500.00 |
💡 Accountant's Note
Common in law and consulting firms. If you worked 20 hours in December but bill in January, you must recognize the revenue in December to match the effort.
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