Accrued revenue is a type of revenue that has been earned but has not yet been recorded or received. This happens when a customer makes a purchase but has not yet made the payment, and the revenue is considered accrued until the payment is made.It is crucial for businesses to keep track of accrued revenue as it can impact their cash flow and financial reporting. Typically, accrued revenue is recorded as a liability on the balance sheet until the payment is received.