what is unearned revenue and accounting entries of it.
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Unearned revenue generally occur in Billing in advance scenario where Billing is done and revenue is not yet accrued. The accounting entry for this transaction would be Dr Receivables A/c and Cr Unearned Revenue. Later on once the revenue is accrued the entry would be Dr Unearned Revenue and Cr Revenue a/c.
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Unearned Revenue is like an advance payment.
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what is unearned revenue and accounting entries of it.
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Hi all, I have setup my AP and created 3 invoice batches which as seen validated yet when i try to make payment i get the following error"APP-SQL - 10006: the date you entered is not an open accounting period." I have opened the calendar for that month yet it giving me this error. Any help will be appreciated.
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