Revenue Method W

For Revenue Method W, Vision recognizes revenue as job-to-date billings plus work-in-progress at billing rates.

Job-to-Date Revenue = Job-to-Date Billings + Work-in-Progress @ Billing

Method W allows you to recognize revenue based on both billed amounts (Job-to-Date Billings) and on labor and expense amounts not yet billed, calculated at billing rates (Work-in-Progress @Billing).

These are the entries Vision makes for a project using Method W:

Entry

Debit

Credit

Invoice Postings:

Accounts Receivable (111.00)

Billed Revenue (401.00)

Unbilled Services (121.00)

Unbilled Revenue (402.00)

100.00