Summary

• The deferred revenue application has the following features:

  • When a deposit is made for a project that has not been started yet, this deposit is not booked as revenue but as a liability aka deferred revenue

  • When work starts on the project, and maybe 25% is completed, 25% of that deposit is booked as recognized revenue

  • This application automatically recognizes that revenue. Powerful revenue recognition templates can be set up at the line item level.

• Video (5 mins, May 2017)