What does unbilled mean?
The term unbilled refers to amounts that have been incurred but not yet invoiced or recorded. In accounting and finance, it is used to describe situations where expenses or revenues have not been included in a bill or invoice. This can occur in various contexts, such as time and materials billing systems, where work has been completed but not yet billed to the client. The concept of unbilled is essential in managing cash flow, tracking expenses, and ensuring accurate financial reporting. It is a critical aspect of financial management, particularly in industries where billing cycles are complex or irregular. Understanding unbilled is crucial for businesses and individuals to make informed decisions about their financial resources and to maintain accurate records.
adjectiveNot included in a bill or invoice; unpaid.
- Not included in a bill or invoice; unpaid.
"The company has a large number of unbilled hours that need to be accounted for."
"The company has a large number of unbilled hours that need to be accounted for."
"The patient was not billed for the consultation."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of unbilled
The word unbilled is derived from the adjective un- and the noun bill. The term bill has its roots in Old English and refers to a written statement or account. The prefix un- is a negation prefix that indicates the absence or negation of a quality or state. In the context of accounting and finance, the combination of un- and bill resulted in the term unbilled, which describes amounts that have not been included in a bill or invoice.
How unbilled is actually used
In accounting and finance, unbilled refers to amounts that have been incurred but not yet invoiced or recorded. It is often used in the context of time and materials billing systems.