Can i book bookings, IFRS 15?

[BookBookings]

Can i book bookings, IFRS 15?

We have a signed contract for a 12 month subscription end of month payments.
Now we want to align bookkeeping with our investor reporting, where we do report bookings.

Example contract is signed in February.
Service starts in March.
1. Payment is received in April.

Since bookings are not defined in IFRS, is it possible to account them in February when the contract is signed?

Right now we use contract liabilities (deferred revenue, which would be against the definition of contract liabilities because it's unpaid).
And accounts receivables, which is also a bit off, because the billing cycle is actually not upfront.

I would prefer to do it differently, but can we reflect bookings in our accounting?

[pub_acco]

can we reflect bookings in our accounting?

No, but as a bookkeeping technique, you can record any information in your journal using a pair of offsetting dummy accounts that do not show up on the financial statements, can't you? Alternatively, you can record revenue and an offsetting contra account and reverse the contra account as IFRS 15 permits.

[Marek Muc]

true, for example I've seen a company that books a 'performance asset' and a 'performance obligation' and the net balance of those accounts is presented as a contract asset of contract liability (on a per contract basis) in IFRS financial statements