Unbilled receivable
In accounting, unbilled receivable means revenue recognized where the right to payment is unconditional but the invoice has not yet been issued — a receivable, not a contract asset.
- Layer
- Lexicon
- Defined in
- Lexicon
- Nearby
- 4
Authority
This definition follows ASC 606-10-45-4.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
The lesson that teaches this
Accounting, 0 to 1 — a free course taught end to end on one month of one company, with the spreadsheet exercises to work it yourself.
Unbilled receivable, in use
Quoted from the document that use the word — what it does to an interface, in the spec's own sentence.
Revenue recognized before the right to payment is unconditional is a contract asset; recognized with an unconditional right but not yet invoiced is an unbilled receivable.
Schedules, accruals & roll-forwards — 4. Deferred revenue (ASC 606 / IFRS 15)
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- contract asset
- WIP
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
6Statements
Family specTerms this one depends on
- Contract assetRevenue recognized ahead of an unconditional right to payment — the right still depends on something other than the passage of time
- InvoiceA claim on a customer
- RevenueInflows or enhancements of assets, or settlements of liabilities, from delivering goods or services — recognized when control transfers, not when cash arrives
- AssetA present right of the entity to an economic benefit (FASB CON 8 ¶E16)
Also in Revenue recognition
Work with this concept
The calculators that compute it and the ledger payloads that carry it. A definition is where a reader starts; these are where they go next.
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.