Table:
|  | December 31, | December 31, |
| --- | --- | --- |
|  | 2019 | 2018 |
| Accrued payroll and related taxes | $3,985 | $3,800 |
| Accrued federal, state, and local taxes | 2,635 | 1,827 |
| Accrued bonus | 20,206 | 10,766 |
| Self-insurance reserves | 2,238 | — |
| Employee stock purchase plan contributions | 4,716 | 6,473 |
| Accrued sales commissions | 5,397 | 6,889 |
| Accrued partner commissions | 7,043 | 5,535 |
| Contract liabilities | 5,197 | — |
| Accrued purchase price related to acquisitions | 2,763 | — |
| Other | 7,924 | 6,811 |
| Total | $62,104 | $42,101 |
Paragraphs:
Accrued expenses consisted of the following (in thousands):
Contract liabilities represent amounts that are collected in advance of the satisfaction of performance obligations under the new revenue recognition standard. See Recently Adopted Accounting Standards in Note 2 and Contract Liabilities in Note 6.
Question:
What does contract liabilities refer to?
Answer: amounts that are collected in advance of the satisfaction of performance obligations under the new revenue recognition standard