Deferred Revenue

Forum|Forum|4 years ago
March 29, 2022
16 replies
128 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

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.

malo21Author

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

LALS3

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).

That is what we ended up doing. Works perfectly.

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