accrued revenue

accrued revenue definition - business

accrued revenue

Money that has been earned, but the funds have not yet been received. For example, a firm might sell $1,000 of products to a customer who is not required to pay for 60 days. The sale is recorded on the income statement as revenue and on the balance sheet as a current asset even though no money will be received until later.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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