
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
By :

The most straight-forward scenario in customer invoicing includes the following steps:
An organization sells some goods/services to a customer
An invoice is created and sent out
The customer pays the invoice amount and the invoice is closed in Accounts Receivable
In this case, a typical accounting entry for the invoice is as follows:
DR Accounts Receivable
CR Revenue
In other words, we recognize the revenue and record the receivable (from the customer) at the same time. However, there are many situations where this is not possible due to various reasons.
Sometimes, even if we invoice a customer, we cannot recognize the revenue and need to defer (postpone) the revenue recognition. This is known as deferred revenue processing. On the other hand, sometimes, we need to recognize the revenue, even if we have not invoiced the customer. This is known as unbilled revenue accrual.
Consider a customer invoice for the amount...
Change the font size
Change margin width
Change background colour