Deferred Credit

Deferred Credit means:
income items received by a business but not yet reported as income; also called deferred revenue and deferred income. An example is a consulting fee received in advance, before being earned. The term also applies to revenue normally includable in income but deferred until earned and matched with expenses. For example, a magazine publisher might defer a 3-year subscription receipt in order to match revenue against later publication expenses. Quite often this deferred income is taxable when received.