Accrued revenue in the context of construction refers to the recognition of revenue that has been earned but not yet received. This can occur when a construction project is in progress and the contractor has completed a certain percentage of the work, but has not yet received payment for it. In this case, the revenue is accrued on the contractor's books as it is considered to be earned and will eventually be collected at a later date. Accrued revenue is typically recorded as an accounts receivable on the balance sheet, indicating that the contractor is expecting to receive payment in the future.Accrued revenue is important in construction because it allows for a more accurate reflection of the contractor's financial position. By recognizing revenue as it is earned, the contractor can better
What is Accrued Revenue?
5X
100%
100%
5
Save Time & Money
1,000's of hours saved every book close
Top 3 reasons construction finance teams use the Vergo platform
automate manual processes
Eliminate the hassle of manual data entry and repetitive tasks with our automation tools. Our platform ensures a smooth transition with free setup and ongoing support, making it easy for your team to get started.
streamline communication with the field
"Improve coordination and information flow between your office and field teams with our desktop and mobile app. Our platform enables real-time updates and seamless communication, keeping everyone on the same page.
.png)
unlock better reporting & analytics
Transform your data into actionable insights with our powerful reporting and analytics tools. Our platform provides instant access to critical information and dedicated support to help you make informed decisions faster.
Book your Vergo product tour today.
Fast Integration
We can get your account up and running within a week with our fast ERP integration capabilities.
money-back guarantee
We're so confident you'll love our product we'll give your money back after 30 days if you're not happy.
24/7 Customer Service
Whether you want to speak with a human on the phone or message us online, we're always available to help.
"Our finance team absolutely love the platform."
"The platform has boosted our workflow efficiency and team collaboration. It's intuitive and user-friendly, allowing us to quickly adapt and enhance productivity."
"We saved hours eliminating manual data entry."
"Automating our data entry processes has saved us hours. The software captures and organizes our financial data accurately, reducing errors and freeing up time."
"We have so much more clarity into our project data."
"The platform gives us real-time insights into project data with advanced analytics and reports, helping us make better decisions."
