We currently have a Pty, that delivers IT and eLearning related projects to clients. Revenue can be once off (50% deposit, 50% on completion of the project), or recurring for the duration of the project (usually paid in monthly instalments). Some of the work is done by our company, some of it is outsourced/sub contracted.
From an accounting point of view, I see our accounting system caters for "Fee/Consulting Income" as well as "Project/Event/Campaign Income".
Any of the accountants here wish to comment which they think would be the better way of the two to recognise revenue against? Fee or Project?