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Which revenue we already have received but did not provide services against that revenue, its called Unearned Revenue. This is a Current Liability.
Deferred Revenue means that customer make payment in advance prior to sales and that is the liability for the company until such sales/transaction made to the customer, it means the advance payment will be recognized in future as a revenue
Deferred Revenue are the advanced payments made by the customer. It is a liability because the customer has paid for sth that he did not yet receive. Because of that, it is recorded under the liabilities in the balance sheet.
When an individual or entity receives money for a service or product that has yet to be provided. It is a form of pre-payment for goods or services or services which an individual or entity is expected to provide to the purchaser. As a result a seller as a liability equal to the revenue earned until the the goods are provided.
In a simple answer, if you get a prepaid funds for services that will be provided in the future, you'd have to record it as a "deferred revenue". Once you realize the revenue, it will move from deferred to realized.
