Presentation in financial statements
Show in the SFP as a contract liability or a receivable, depending on when paid and performed
i.e.. Paid upfront but not yet performed would be a contract liability - Dr Cash Cr Contract Liability
i.e.. Paid later but already performed - Dr Receivable Cr Revenue (see below)
Performed but not paid would be a contract receivable or asset
A contract asset if the payment is conditional (on something other than time)
A receivable if the payment is unconditional
Contract assets and receivables shall be accounted for in accordance with IFRS 9.
All qualitative and quantitative information about:
its contracts with customers;
the significant judgments in applying the guidance to those contracts; and
any assets recognised from the costs to fulfil a contract with a customer.