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M
malo21
March 29, 2022
Question

Deferred Revenue

  • March 29, 2022
  • 1 reply
  • 0 views

My company provides event-driven marketing services to companies. We invoice all the companies at the time of sale, but the marketing event occurs at a later date. Is there a way to 'map' the invoices so that when posted the debit goes to deferred revenue, rather than revenue? Right now I have to JE each invoice when entered, and then reverse each JE when the events occur and the revenue is earned..

(note: we do accrual accounting)

Thanks!

1 reply

S
ShiellaGraceA
March 29, 2022

Welcome to Community, @malo21.

 

I'll share some insight about mapping customer invoices. QuickBooks record invoices to income and accounts receivable (A/R) by default. Thus, mapping them to deferred revenue is un-available. You'll have to record a journal entry.

 

I recommend consulting an accountant for best way to handle deferred revenue. You can visit our site to find an accountant near you: Find a ProAdvisor.

 

Here are some additional resources that'll help you manage customer-related tasks.

 

 

Feel free reply to this thread if you have follow-up questions or concerns about mapping invoices. I'm more than willing to assist you. Take care and have a great day ahead.

M
malo21Author
April 7, 2022

Is there any version of QB that allows for an invoice to be mapped to deferred revenue rather than reveune?

K
Kevin_C
April 7, 2022

I recognize how important it is to map the invoice to deferred revenue in QuickBooks Online (QBO), @malo21.  I'm here to share some insight into your concern.

 

Currently, we don't have a version of QBO that allows an invoice you can map to deferred revenue. As my colleague mentioned above, you'll have to record them as a journal entry. You can also seek an accountant for other ways to handle deferred revenue in QBO.

 

For now, I recommend sending a feature request directly to our Product Development team. This helps us improve your experience and the features of the program. You can submit them directly from your QBO account. 

 

Here's how:

 

  1. Go to the Gear icon at the top.
  2. Select Feedback.
  3. Type in your feedback and suggestions about having an option to disable QBO advertisements.
  4. Click Next to submit them.


 

Furthermore, I'm attaching this link that can efficiently guide you in supervising your account: Learn about QuickBooks Online with how-to videos.

 

Please know that you're always welcome to post a reply in this thread, @malo21. If you have any other questions about your QBO account, I'll be here to assist you. Keep safe!

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