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If delivery extends beyond 12 months, the portion due beyond that window is classified as a non-current liability.",[],{"_key":1540,"_type":170,"children":1541,"markDefs":1546,"style":190},"k183",[1542],{"_key":1543,"_type":174,"marks":1544,"text":1545},"k182",[],"For a 24-month maintenance contract, you would split the balance accordingly at each reporting date.",[],{"_key":1548,"_type":170,"children":1549,"markDefs":1558,"style":190},"k189",[1550,1554],{"_key":1551,"_type":174,"marks":1552,"text":1553},"k187",[1309],"A common misread among founders:",{"_key":1555,"_type":174,"marks":1556,"text":1557},"k188",[]," Seeing a strong cash balance and treating it as available operating capital. Unearned revenue is cash that belongs to an obligation, not to your P&L. Spending it before delivery creates a liquidity risk if the customer cancels or if delivery is delayed.",[],{"_key":1560,"_type":170,"children":1561,"markDefs":1566,"style":1187},"k193",[1562],{"_key":1563,"_type":174,"marks":1564,"text":1565},"k192",[],"How to record unearned revenue: A step-by-step guide",[],{"_key":1568,"_type":170,"children":1569,"markDefs":1574,"style":190},"k197",[1570],{"_key":1571,"_type":174,"marks":1572,"text":1573},"k196",[],"Recording unearned revenue correctly comes down to one principle under Singapore Financial Reporting Standard (International) 15, or SFRS(I) 15. This is the revenue recognition standard for contracts with customers: cash received doesn't equal revenue earned.",[],{"_key":1576,"_type":170,"children":1577,"markDefs":1582,"style":1530},"k201",[1578],{"_key":1579,"_type":174,"marks":1580,"text":1581},"k200",[],"1. Confirm the payment qualifies as unearned revenue",[],{"_key":1584,"_type":170,"children":1585,"markDefs":1590,"style":190},"k205",[1586],{"_key":1587,"_type":174,"marks":1588,"text":1589},"k204",[],"Before recording anything, check that the goods or services haven't been delivered yet. If a customer has paid for something you've already provided, that's earned revenue. It goes straight to your income statement, not into a liability account. This distinction matters because misclassifying it either way will distort your financial statements. Unearned revenue only applies when cash has arrived ahead of delivery.",[],{"_key":1592,"_type":170,"children":1593,"markDefs":1598,"style":1530},"k209",[1594],{"_key":1595,"_type":174,"marks":1596,"text":1597},"k208",[],"2. Record the cash receipt as a liability",[],{"_key":1600,"_type":170,"children":1601,"markDefs":1606,"style":190},"k213",[1602],{"_key":1603,"_type":174,"marks":1604,"text":1605},"k212",[],"When the payment comes in, you record two things at once: an increase in cash, and an increase in a liability called unearned revenue (sometimes labelled deferred revenue or, under SFRS(I) 15 terminology, contract liability).",[],{"_key":1608,"_type":170,"children":1609,"markDefs":1614,"style":190},"k217",[1610],{"_key":1611,"_type":174,"marks":1612,"text":1613},"k216",[],"The entry looks like this:",[],{"_key":1616,"_type":170,"children":1617,"markDefs":1634,"style":190},"k227",[1618,1622,1626,1630],{"_key":1619,"_type":174,"marks":1620,"text":1621},"k223",[1309],"Debit:",{"_key":1623,"_type":174,"marks":1624,"text":1625},"k224",[]," Cash\u002FBank for the full amount received",{"_key":1627,"_type":174,"marks":1628,"text":1629},"k225",[1309],"Credit:",{"_key":1631,"_type":174,"marks":1632,"text":1633},"k226",[]," Unearned revenue for the full amount received",[],{"_key":1636,"_type":170,"children":1637,"markDefs":1642,"style":190},"k231",[1638],{"_key":1639,"_type":174,"marks":1640,"text":1641},"k230",[],"At this point, nothing touches your income statement. The money sits on your balance sheet as a liability because you still owe the customer something, whether that's a product, a service, or access over a period of time.",[],{"_key":1644,"_type":170,"children":1645,"markDefs":1650,"style":1530},"k235",[1646],{"_key":1647,"_type":174,"marks":1648,"text":1649},"k234",[],"3. Map out the performance obligation",[],{"_key":1652,"_type":170,"children":1653,"markDefs":1658,"style":190},"k239",[1654],{"_key":1655,"_type":174,"marks":1656,"text":1657},"k238",[],"Before you can recognise any revenue, you need to know exactly when and how you'll deliver on your end. This step is really about defining your recognition schedule, and it depends on the nature of what was sold:",[],{"_key":1660,"_type":170,"children":1661,"level":1227,"listItem":1228,"markDefs":1666,"style":190},"k243",[1662],{"_key":1663,"_type":174,"marks":1664,"text":1665},"k242",[],"If it's a 12-month subscription, the obligation is satisfied evenly across 12 months, so you'll recognise revenue monthly.",[],{"_key":1668,"_type":170,"children":1669,"level":1227,"listItem":1228,"markDefs":1674,"style":190},"k247",[1670],{"_key":1671,"_type":174,"marks":1672,"text":1673},"k246",[],"If it's a one-off event or workshop happening on a specific date, the entire obligation is satisfied on that single date.",[],{"_key":1676,"_type":170,"children":1677,"level":1227,"listItem":1228,"markDefs":1682,"style":190},"k251",[1678],{"_key":1679,"_type":174,"marks":1680,"text":1681},"k250",[],"If it's a gift card or store credit, the obligation is satisfied only when the customer actually redeems it, which could be any time in the future.",[],{"_key":1684,"_type":170,"children":1685,"markDefs":1690,"style":1530},"k255",[1686],{"_key":1687,"_type":174,"marks":1688,"text":1689},"k254",[],"4. Recognise revenue as you deliver",[],{"_key":1692,"_type":170,"children":1693,"markDefs":1698,"style":190},"k259",[1694],{"_key":1695,"_type":174,"marks":1696,"text":1697},"k258",[],"Each time you fulfil part of the obligation, you move the corresponding portion out of the liability account and into revenue. For a monthly subscription, this happens at the end of each month. For a single event, it happens all at once on the day of the event.",[],{"_key":1700,"_type":170,"children":1701,"markDefs":1705,"style":190},"k263",[1702],{"_key":1703,"_type":174,"marks":1704,"text":1613},"k262",[],[],{"_key":1707,"_type":170,"children":1708,"markDefs":1723,"style":190},"k273",[1709,1712,1716,1719],{"_key":1710,"_type":174,"marks":1711,"text":1621},"k269",[1309],{"_key":1713,"_type":174,"marks":1714,"text":1715},"k270",[]," Unearned revenue for the portion now earned",{"_key":1717,"_type":174,"marks":1718,"text":1629},"k271",[1309],{"_key":1720,"_type":174,"marks":1721,"text":1722},"k272",[]," Revenue for the same amount",[],{"_key":1725,"_type":170,"children":1726,"markDefs":1731,"style":190},"k277",[1727],{"_key":1728,"_type":174,"marks":1729,"text":1730},"k276",[],"This is the step that actually moves money from your balance sheet to your income statement, and it's the part most businesses get wrong if they recognise the full amount upfront instead of spreading it across the obligation period.",[],{"_key":1733,"_type":170,"children":1734,"markDefs":1739,"style":1530},"k281",[1735],{"_key":1736,"_type":174,"marks":1737,"text":1738},"k280",[],"5. Reconcile the remaining liability balance",[],{"_key":1741,"_type":170,"children":1742,"markDefs":1747,"style":190},"k285",[1743],{"_key":1744,"_type":174,"marks":1745,"text":1746},"k284",[],"After each recognition entry, check that what's left in your unearned revenue account still matches what you genuinely owe the customer.",[],{"_key":1749,"_type":170,"children":1750,"markDefs":1755,"style":190},"k289",[1751],{"_key":1752,"_type":174,"marks":1753,"text":1754},"k288",[],"If you've delivered 3 months of a 12-month subscription, your remaining liability should reflect exactly 9 months' worth of obligation — no more, no less. This reconciliation step is what keeps your balance sheet honest and catches errors before they compound across the year.",[],{"_key":1757,"_type":170,"children":1758,"markDefs":1763,"style":1530},"k293",[1759],{"_key":1760,"_type":174,"marks":1761,"text":1762},"k292",[],"6. Close the liability account once delivery is complete",[],{"_key":1765,"_type":170,"children":1766,"markDefs":1771,"style":190},"k297",[1767],{"_key":1768,"_type":174,"marks":1769,"text":1770},"k296",[],"Once you've fully delivered the product or service, the last month of the subscription has passed, the event has happened, or the gift card has been redeemed, the unearned revenue balance for that specific transaction should sit at zero. If there's still a balance left after you believe you've completed delivery, that's a sign something in your recognition schedule was off and needs to be corrected.",[],{"_key":1773,"_type":170,"children":1774,"markDefs":1779,"style":1530},"k301",[1775],{"_key":1776,"_type":174,"marks":1777,"text":1778},"k300",[],"7. 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If a customer cancels a subscription partway through, you'll typically refund the unearned portion:",[],{"_key":1789,"_type":170,"children":1790,"markDefs":1805,"style":190},"k315",[1791,1794,1798,1801],{"_key":1792,"_type":174,"marks":1793,"text":1621},"k311",[1309],{"_key":1795,"_type":174,"marks":1796,"text":1797},"k312",[]," Unearned revenue",{"_key":1799,"_type":174,"marks":1800,"text":1629},"k313",[1309],{"_key":1802,"_type":174,"marks":1803,"text":1804},"k314",[]," Cash for the refunded amount",[],{"_key":1807,"_type":170,"children":1808,"markDefs":1813,"style":190},"k319",[1809],{"_key":1810,"_type":174,"marks":1811,"text":1812},"k318",[],"If instead you're dealing with something like an expired, unredeemed gift card, some businesses recognise that unused balance as revenue (known as 'breakage') once it's reasonably certain it won't be redeemed but this depends on your accounting policy and should be applied consistently.",[],{"_key":1815,"_type":170,"children":1816,"markDefs":1821,"style":1822},"k323",[1817],{"_key":1818,"_type":174,"marks":1819,"text":1820},"k322",[],"A quick worked example:",[],"h4",{"_key":1824,"_type":170,"children":1825,"markDefs":1830,"style":190},"k327",[1826],{"_key":1827,"_type":174,"marks":1828,"text":1829},"k326",[],"Say a Singapore SaaS company collects SGD $2,400 upfront for a 12-month subscription on 1 January.",[],{"_key":1832,"_type":170,"children":1833,"markDefs":1838,"style":190},"k331",[1834],{"_key":1835,"_type":174,"marks":1836,"text":1837},"k330",[],"On 1 January, the entry is a debit to cash and a credit to unearned revenue, both for SGD $2,400. Nothing hits revenue yet.",[],{"_key":1840,"_type":170,"children":1841,"markDefs":1846,"style":190},"k335",[1842],{"_key":1843,"_type":174,"marks":1844,"text":1845},"k334",[],"At the end of January, after delivering one month of service, the company debits unearned revenue and credits revenue for SGD $200 (SGD $2,400 divided by 12 months). This same SGD $200 entry repeats at the end of each month.",[],{"_key":1848,"_type":170,"children":1849,"markDefs":1854,"style":190},"k339",[1850],{"_key":1851,"_type":174,"marks":1852,"text":1853},"k338",[],"By 31 December, after the twelfth entry, the unearned revenue account for this contract sits at zero, and the full SGD $2,400 has moved into revenue, exactly matching the 12 months of service actually delivered.",[],{"_key":1856,"_type":170,"children":1857,"markDefs":1862,"style":1187},"k343",[1858],{"_key":1859,"_type":174,"marks":1860,"text":1861},"k342",[],"How does unearned revenue affect financial statements",[],{"_key":1864,"_type":170,"children":1865,"markDefs":1870,"style":190},"k347",[1866],{"_key":1867,"_type":174,"marks":1868,"text":1869},"k346",[],"Unearned revenue touches all three core financial statements, but not in the way the cash sitting in your bank account might suggest.",[],{"_key":1872,"_type":170,"children":1873,"markDefs":1887,"style":190},"k355",[1874,1878,1883],{"_key":1875,"_type":174,"marks":1876,"text":1877},"k352",[],"On the ",{"_key":1879,"_type":174,"marks":1880,"text":1882},"k353",[1881,1309],"em","balance sheet",{"_key":1884,"_type":174,"marks":1885,"text":1886},"k354",[],", unearned revenue appears as a current liability (or split between current and non-current, depending on the delivery timeline). When cash arrives, both your cash balance and your liabilities increase by the same amount. Assets and liabilities move together, so the balance sheet stays in equilibrium. Nothing about your equity position changes at this point.",[],{"_key":1889,"_type":170,"children":1890,"markDefs":1907,"style":190},"k365",[1891,1895,1899,1903],{"_key":1892,"_type":174,"marks":1893,"text":1894},"k361",[],"On the",{"_key":1896,"_type":174,"marks":1897,"text":1898},"k362",[1881]," ",{"_key":1900,"_type":174,"marks":1901,"text":1902},"k363",[1881,1309],"income statement",{"_key":1904,"_type":174,"marks":1905,"text":1906},"k364",[],", unearned revenue has no immediate impact at all. It only enters the P&L gradually, as each portion is recognised through the period the obligation is fulfilled. This is precisely why a strong quarter of cash collections doesn't always translate into a strong quarter of reported revenue. The two numbers are deliberately decoupled until delivery happens.",[],{"_key":1909,"_type":170,"children":1910,"markDefs":1922,"style":190},"k373",[1911,1914,1918],{"_key":1912,"_type":174,"marks":1913,"text":1877},"k370",[],{"_key":1915,"_type":174,"marks":1916,"text":1917},"k371",[1881,1309],"cash flow statement",{"_key":1919,"_type":174,"marks":1920,"text":1921},"k372",[],", the picture differs again. 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