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Revenue
 9 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
The Company generates revenue primarily from subscription and transaction fees. The Company serves small and midsize businesses (SMB), accounting firms, and financial institutions. The table below shows the Company’s revenue from subscription and transaction fees, which are disaggregated by sales channel, and revenue from interest on funds held for customers (in thousands).
Three Months Ended
March 31,		Nine Months Ended
March 31,
2023202220232022
Small-to-midsize businesses, accounting firms and other
$227,573 $156,518 $652,800 $417,651 
Financial institutions11,922 8,950 32,401 20,895 
Total subscription and transaction fees239,495 165,468 685,201 438,546 
Interest on funds held for customers33,060 1,443 77,284 3,192 
Total revenue$272,555 $166,911 $762,485 $441,738 
Deferred revenue
Fees from customers with which the Company has annual or multi-year contracts are generally billed in advance. These fees are initially recorded as deferred revenue and subsequently recognized as revenue as the performance obligation is satisfied.
During the three and nine months ended March 31, 2023, the Company recognized $4.5 million and $29.1 million of revenue, respectively, that was included in the deferred revenue balance as of June 30, 2022.
Remaining performance obligations
The Company has performance obligations associated with commitments in customer contracts for future services that have not yet been recognized as revenue. As of March 31, 2023, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied), including deferred revenue, was approximately $115.0 million. Of the total remaining performance obligations, the Company expects to recognize approximately 84% within two years and 16% over the next three to five years thereafter. The Company determines remaining performance obligations at a point of time. Actual amounts and timing of revenue recognized may differ due to subsequent contract modifications, renewals and/or terminations.
Unbilled revenue
Unbilled revenue consists of revenue recognized that has not been billed to the customers yet. The unbilled revenue amounted to $15.3 million and $11.4 million as of March 31, 2023 and June 30, 2022, respectively.