The Deferred Revenue Waterfall Detail report gives a prediction of the anticipated revenue stream and reconciles the balance of the deferred revenue account on the balance sheet. Run this report following the creation of the current period’s revenue recognition and deferred revenue reclassification journal entries.
Categories in Deferred Revenue Waterfall Report:
prior unrecognized: Deferred revenue that was supposed to be recognized at the end of the current quarter but hasn’t been is known as prior unrecognized. These sums are included if you have not finished the month-end revenue recognition journal entries for the current period. This column is hidden once all amounts have been acknowledged.
short-term deferred revenue: Deferred revenue scheduled for recognition soon is referred to as short-term deferred revenue. For each month, there are separate columns within this category. The accounting choice determines how many months there will be. How many short-term revenue periods are there. The standard is 12.
long-term deferred revenue: Deferred revenue scheduled for recognition after the number of months specified for short-term deferred revenue is known as long-term deferred revenue. This is the report’s Thereafter column.
Unplanned Deferred revenue: Billed and Unrecognized but not yet in actual revenue plans.
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