What is the definition of a prepaid income
- Posted on November 21, 2019
- Financial Terms
- By admin admin
Prepaid Income is an accounting concept that refers to a payment that has been received, but the asset has not yet been fully delivered. The company receives a one-off payment for the asset, but delivers its full value either in the future or over time. Prepaid Income is found on the Balance Sheet of a company as a liability (as it is something which is owed), either with its own section or under Other Current Liabilities.
Be the first to comment!
You must login to comment