How will you reconcile deferred revenue?

Question

Accepted Answer

Deferred revenue is reconciled by comparing the beginning and ending balances, adjusting for any changes during the period.

Start by comparing the beginning and ending balances of deferred revenue accounts.
Identify any changes in the period, such as new revenue recognized or revenue that was previously deferred being recognized.
Adjust the balances accordingly to ensure they match the recognized revenue for the period.
Ensure that all adjustments are properly documented and supported by appropriate evidence.
Perform regular reconciliations to catch any discrepancies and ensure accurate financial reporting.

Accepted Answer

by checking the Down payment received and Invoice created.

Interview Questions Asked to Financial Controller at Other Companies