Unbilled Services
Your unbilled services amount is the revenue that your firm has earned job-to-date, less the amount that has been billed job-to-date. When you run Revenue Generation for projects whose revenue method is any method other than Method B (job-to-date billings), Vision tracks the difference between revenue amounts and billing amounts.
The difference (unbilled services) is calculated using the following equation:
Unbilled Services = Job-To-Date Earned Revenue - Job-To-Date Total Billings
To review unbilled services (job-to-date), run the Office Earnings Report for all projects, whether or not they had activity in the current accounting period. Be sure to include the Unbilled column and Print Job-to-Date options when building the report.
The Total Unbilled amount matches the balance in the Unbilled Services account on the Balance Sheet (account 121.00 in the standard Vision Chart of Accounts). This account holds job-to-date unbilled revenue for all projects. Firms also refer to this as work-in-progress or unearned income.
The unbilled services amount increases as you recognize revenue and decreases as you post invoices. After you run Revenue Generation and post the Revenue Generation file, Vision posts unbilled revenue for the current fiscal year to the Unbilled Revenue account (402.00 in the standard Vision Chart of Accounts) on the Income Statement.