# Deferred revenue

> Deferred revenue — Consideration received, or unconditionally due, before the goods or services are transferred — a liability until the performance obligation is satisfied. ASC 606 calls it a contract liability.

Source: https://lopifi.com/glossary/deferred-revenue
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is deferred revenue?** In accounting, deferred revenue means consideration received, or unconditionally due, before the goods or services are transferred — a liability until the performance obligation is satisfied. ASC 606 calls it a contract liability.

## Also known as

- Contract liability

## Words this system refuses for it

- unearned income
- revenue

- **Category:** Foundations
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Rendered by:** [invoice-form](https://lopifi.com/md/components/invoice-form), [revenue-waterfall](https://lopifi.com/md/components/revenue-waterfall), [schedule-table](https://lopifi.com/md/components/schedule-table)
- **Related:** performance-obligation, liability, revenue