Recognizing Deferred Income
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Integrated Billing FAQs : What is the Recognized Income checkbox that appears when I create invoices?
What is the Recognized Income checkbox that appears when I create invoices?
Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows you to specify the number of months that the income should be recognized over.
Recognition of this income would begin on the Invoice date and be displayed on recognition reports such as Recognized Income Detail and Recognized Income Summary in the Billing, Reports tab. This report also could report the deferred income based on Due Date as well. Previously, recognized income was only possible with membership fees and due items. This selection makes it possible to recognize deferred income for any invoiced item.