Question

Deferred Revenue

Forum|Forum|4 years ago
March 29, 2022
16 replies
129 views

My company provides event-driven marketing services to companies. We invoice all the companies at the time of sale, but the marketing event occurs at a later date. Is there a way to 'map' the invoices so that when posted the debit goes to deferred revenue, rather than revenue? Right now I have to JE each invoice when entered, and then reverse each JE when the events occur and the revenue is earned..

(note: we do accrual accounting)

Thanks!

QuickBooks Online

S

ShiellaGraceA

Level 9

Welcome to Community, @malo21.

I'll share some insight about mapping customer invoices. QuickBooks record invoices to income and accounts receivable (A/R) by default. Thus, mapping them to deferred revenue is un-available. You'll have to record a journal entry.

I recommend consulting an accountant for best way to handle deferred revenue. You can visit our site to find an accountant near you: Find a ProAdvisor.

Here are some additional resources that'll help you manage customer-related tasks.

Feel free reply to this thread if you have follow-up questions or concerns about mapping invoices. I'm more than willing to assist you. Take care and have a great day ahead.

M

malo21Author

Is there any version of QB that allows for an invoice to be mapped to deferred revenue rather than reveune?

J

jeff Siegel

Thanks for connecting with us here, @LALS3.

I'll gladly share some information with you. In QuickBooks Online (QBO), you can run the Transaction List by Customer report. This report will show you all sales, including deferred income that has been recognized, for each customer within the selected date range. Here's how:

Go to the Reports menu and search the Transaction List by Customer report.
Under the Report period, click the dropdown arrow and customize the dates.
Under the Rows/columns, click the dropdown arrow and select Month.
You can also click Customize in the upper right corner to get the specific details of the transactions.
Click Run report.

You may memorize this report to save its customized settings for easy access to use in the future.

You can also utilize this article to learn how to export your reports to Microsoft Excel from QBO: Export your reports to Excel from QuickBooks Online.

Know that the Community is always here to back you up. Have a great day ahead.

We can create items that initially mapped to Deferred Revenue.

We can then create "zero dollar" invoices that recur automatically that basically book the revenue in the proper month and pull it out of Deferred Revenue. By doing this as an invoice that is more internal, it then allows us to create sales reports by customer by month that tracks to actual revenue (Gaap).

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