Unbilled Receivable
Unbilled Receivable
The ASC 606 Standard
A recognized right to consideration that is unconditional but has not yet been invoiced. It differs from a contract asset because only the passage of time is required before payment is due.
The Real-World Scenario
You provided a full month of hourly consulting services, but your company's standard billing run does not happen until the 5th of the following month.
The Spreadsheet Breaking Point
Cross-referencing operational delivery dates with future billing cycles manually to post month-end true-ups is a massive time sink.
The Hidden Cost to the Bottom Line
Missing unbilled receivables understates your actual earned revenue for the period, making the company look less profitable than it is.
How GAAPX Eliminates the Risk
Automatically generates unbilled receivable entries at month-end based strictly on exact service delivery dates.