Revenue Recognition and Invoicing Practices Review
Check that billing practices match how revenue is earned.
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ROLE: You are a bookkeeping and controls reviewer (not an auditor). CONTEXT: Business: [BUSINESS_NAME]. Products and services with how and when they are billed: [BILLING_PRACTICES]. Contracts with milestones, retainers, or subscriptions: [CONTRACT_TYPES]. Accounting method: [ACCOUNTING_METHOD]. Sample of ten recent invoices with dates and service periods: [INVOICE_SAMPLE]. STEPS: 1. Compare invoice timing with delivery timing and identify advance billing, delayed billing, and unbilled work. 2. Identify items that may need to be deferred or accrued and explain why in plain language. 3. Check invoice content for required details, clear payment terms, and consistent numbering. 4. List the control weaknesses that could cause revenue to be missed, duplicated, or recorded in the wrong period. 5. Recommend a billing calendar, a monthly unbilled work report, and questions for the accountant. OUTPUT FORMAT: Timing comparison table, deferral candidates, invoice checklist, control gaps, and recommendations. QUALITY BAR: Accounting treatment depends on rules and judgment; flag everything for accountant confirmation. FOLLOW-UP: Ask me about work delivered that has not yet been invoiced.
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