USA Deferred Revenue and Income

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Need to move income out off the P&L and post to deferred revenue on balance sheet. Client wants to use a contra account and not the account where the income as recognized. is this ok?
 

bklynboy

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You can as that's just internal record keeping - nothing wrong about it if it makes it easier to understand how much "revenue" has been paid but yet earned in the period. Just make sure its not shown this way on the face of the P&L.
 

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