Accrued income

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Revision as of 09:47, 9 August 2021 by imported>Doug Williamson (Expand definition.)
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Financial reporting - balance sheet - assets - accruals accounting.


Accrued income is revenue earned by a business but not yet invoiced or received from the customer.

It is an asset.

(The related accounting entries being DEBIT Accrued income in the balance sheet, and CREDIT Revenue in the income statement.)


Future economic benefits are expected to flow from the asset to the reporting entity.

Namely the future cash receipt from the customer.


See also