Deferred revenue is money received in advance for products or services that are going to be performed in the future. Rent payments received in advance or annual subscription payments received at the beginning of the year are common examples of deferred revenue.

Deferred expenses, similar to prepaid expenses, refer to expenses that have been paid but not yet incurred by the business. Common prepaid expenses may include monthly rent or insurance payments that have been paid in advance.
Accounting for Deferred Revenue
Since deferred revenues are not considered revenue until they are earned, they are not reported on the income statement. Instead, they are reported on the balance sheet as a liability. As the income is earned, the liability is decreased and recognized as income. The same principal applies to deferred expenses
With TWM Deferred ENR, the program creates the accounting journal with the number of months you need to spread out. The program will creates the monthly journal entry automatically
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