This deferred revenue template allows you to gather invoicing or other sales data and convert it into recognized revenue on the Income Statement and proper deferred revenue balances on the Balance Sheet. It can be used as a stand alone schedule or as a part of a larger monthly close workbook.

The template has three primary elements. First, it gathers the raw invoice/sales data. This specific example pulls the raw invoices from the General Ledger but the source can be from other places such as Stripe or a download file from a client/colleague. In a second tab, it takes that raw sales data and converts it to recognize the revenue over the period its earned based on the criteria set by the user. Lastly, the template takes the output of the schedule tab and converts it to journal entries for loading into the General Ledger.

The schedule also pulls in the balance sheet to provide a check against the balances booked to ensure completeness and accuracy.