Home : Terms : Article : Calculators Advertising : Contact us
Home > Terms > Accounting > Prepaid Income

Term: Accounting -> Prepaid income
Term:

Prepaid income

Definition:

Also called unearned revenue, it represents money you have received in advance of providing a service to your customer. Prepaid income is actually a liability of your business because you still owe the service to the customer. An example would be an advance payment to you for some consulting services you will be performing in the future.

Related terms:

Expectation Gap

Reasonable assurance (in internal control)

Useful articles:
»Say It Like You Mean It!
»12 Tips for Using Postcards to Build Your Business
»Who Said Small Business Was Fun and Freedom
»Hold the Line: You Do Not Have to Cut Your Price to Be Competitive


Budget
Student Loan
Stock Market


Browse by categories
Accounting
Advertising
Banking
Bankruptcy
E-Commerce
Economics
Finance
Law
Investment
Insurance
Marketing
Real estate
Statistic
Trade
Purchasing


ABCDEFGHIJKLMNOPQRSTUVWXYZ

Featured Articles:
Business & Financial
Next to winning the lottery, a debt consolidation loan is a debtor’s dream. You’ll have one monthly payment – and hopefully be able to finally pay off those debts.

... [ more... ]

Marketing
When people are concerned about the lack of response to their advertising, usually they complain about one of two things. They either say, "I put it in all the popular ezines but nobody respon... [ more... ]
Career
Still think you’ve got a lock on the job market? Still think that all your hard work, education, and drive will continue to pay off for you indefinitely? Excuse me for using an over-used exp... [ more... ]
  Disclaimer | Privacy | Terms of useCopyright © 2004-2005 E-terms.com