What does billings in excess of costs mean?

billings in excess of costs meaning in Law Dictionary

whenever profits are not as much as what exactly is becoming billed. Its a liability through to the financial obligation is collected.


billings in excess of costs meaning in Business Dictionary

A financial accounting of "over billing" where in actuality the actual incomes gained tend to be under the reports receivable billed. This entry on a financial declaration is shown as a liability to the business through to the profits are collected.