We’re fluent in startup finance. Now you can be too.

Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.

Oops! Something went wrong while submitting the form.

What Are Bookings? 

You book a client when they sign a contract with your company, and your bookings reflect the value of your signed contracts.

Often, you won’t receive the money right away, and there are different terms for explaining what you’re owed versus what you’ve collected. Your bookings can be classified as billings once you send an invoice and can expect to be paid. 

For example, a client might sign a one-year contract for $1,200, and you book the $1,200. Every month, you send them a bill for $100, and your billings are $100. You have $100 in deferred revenue until you deliver the product or service, and then you can recognize the $100 in revenue. 

Bookings can be classified in different ways, such as new, renewal, and upgrade bookings. As the names imply, these are bookings from clients who signed new contracts, renewed a contract, or upgraded to a new plan. Additionally, you can categorize annual contract value bookings (the annual value of multi-year contracts), total contract value bookings (total value of multi-year contracts), and non-recurring bookings (for one-time fees).

Need help with other finance or startup questions?

Pilot provides bookkeeping, CFO, and tax services for literally thousands of startups and growing businesses. We've successfully processed over 10 million transactions for our customers and have unparalleled expertise when it comes to helping businesses succeed.

We're the largest startup-focused accounting firm in the United States, and we'd love to help you. To talk to an expert on our team and find out what Pilot can do for you, please click "Talk to an Expert" below, or email us at info@pilot.com.

See what Pilot can do for you

Get the peace of mind that comes from partnering with our experienced finance team.

Oops! Something went wrong while submitting the form.