Accrued income is money generated by a business for products or services delivered but not yet paid for by the consumer. Revenue is recorded when a sales transaction occurs in accrual accounting, and it may or may not reflect cash in hand. Unearned revenue, or deferred revenue, is the polar opposite of accrued revenue in that it accounts for money paid in advance by a client for products or services that have yet to be provided. If a firm receives prepayment for its goods, it will record the revenue as unearned, but not on its income statement until the period in which the goods or services are delivered.