Advance payments received for services to be provided in the future are a liability, such as deferred revenue. The revenue is recognized in the period(s) that service is provided. This feature has been developed to distribute the revenue received when services are provided.
The transaction type of fees has been considered for deferment in this feature. A fee journal is deferred over a period of time and accounted as a revenue when the deferment is posted.
Last modified: 26 July 2021
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