Yes, it is, but accounts receivable is not.
Unearned Service Revenue is a Liability account.
Unearned Service Revenue is a Liability account.
No, it is an owner's equity account.
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
debit accounts receivableCredit services revenue
debit account receivable credit service revenue
If you render a service n account to a customer you debit Account Receivable and credit Service Revenue.
Service revenue will appear on the income statement as a revenue account. It will indirectly effect the balance sheet in that it will be accompanied by an increase in either cash, accounts receivable, unbilled revenue (assets) or a decrease in unearned revenue (liability).
Service Revenue
debit accounts receivablecredit services revenue
debit accounts receivablecredit services revenue
When your customers pays you in advance, you'd: Dr Cash xxx Cr Unearned service revenue xxx (liability item in balance sheet) When you've provided the service, you'd Dr Unearned service revenue xxx Cr Service revenue xxx (revenue item in income statement)