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متابعة

Entries to revenues accounts such as Service Revenues are usually:

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تم إضافة السؤال من قبل abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م
تاريخ النشر: 2016/02/09
Allen Ambo
من قبل Allen Ambo , Finance Manager , Qatar Living for Trade & IT Investment

It depends on the nature of the transactions affecting the Revenue accounts.

Generally we recognise revenue by crediting our acounts haven satisfied our performance obligation in delivery the contractual service to the client. 

However, in cases where we have returns and or disputes, as much as some companies creat an independent account (discount and or sales return), other companies directly offsets these returns on revenue against the respective revenue account as a debit

 

Ahmed Mohamed Abdelhameed
من قبل Ahmed Mohamed Abdelhameed , financial manager , BTC Networks- Egypt

 Service revenue are credit and temporary account apper on face of Income Statement which is offsetted with expenses accounts and closed in retained .earning that considered an aliment of stock holders equity

Vikas Bachhuka
من قبل Vikas Bachhuka , Sales Manager - Tire, Lubs & Batteries , ALI ALGHANIM & SONS AUTOMOTIVE CO.

Service Revenues are generally credited.

 

Its a thumb rule in accounting

Debit the expenses and credit the incomes

 

And since Service revenue is an income it will appear on the credit side.

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