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Let's say I rent out a property for $1,000 a month.
If it is now June, my expected income through to the end of the year is $6,000.
But the contract will end prematurely at the end of September. Which means that the last three months of the year, which could have earned me $3,000, will not.
What is the proper word to describe this sum ($3,000) which had been expected, but is not anymore?
Note: I need a way to describe both July-Sep, and Oct-Dec.
One word seems difficult, but this is usually described as lost income or lost revenue. Losing in this case does not mean you had it, and lost it, but rather that you expected to receive it, but you don't.
When someone suffers an injury causing him to be able to work less, we describe the money he could (or would) have earned if he were healthy as lost income, to describe income (salary) that he had expected to earn, but he doesn't.
If a fault in a product unexpectedly causes the product not to be sold as much as expected, the manufacturer suffers lost sales, leading to loss of revenue.
In your situation, I'd say your projected revenue is $6000, your actual revenue is $3000 and your lost revenue is also $3000.
Perhaps shortfall comes close to what you mean:
- a failure to come up to expectation or need
a budget shortfall;- also : the amount of such failure
a $2 million shortfall
Example usage:
David realizes he has two choices:
- Put more money into his existing pension to make up the shortfall or,
- Maintain his 4% contributions to his company pension but invest in an alternative solution to make up the shortfall.
Deferral
A deferral, in accrual accounting, is any account where the asset or liability is not realized until a future date (accounting period), e.g. annuities, charges, taxes, income, etc.
for more: https://en.wikipedia.org/wiki/Deferral
