ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OFFSETTING ENTRY Definition
OFFSETTING ENTRY see OFFSET.
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PROGRESS BILLINGS are interim billings for construction work or government contract work. The entry is to debit progress billings receivable and credit progress billings on construction in progress. Progress billings is a contra account to CONSTRUCTION-IN-PROGRESS.
SAS see STATEMENTS OF AUDITING STANDARDS.