Income from services rendered account will decrease and debtors account will increase
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
If you render a service n account to a customer you debit Account Receivable and credit Service Revenue.
You can pull your free credit report, and dispute the service on line.
[Debit] Accounts Receivable 1250 [Credit] Services sales 1250
Income from services rendered account will decrease and debtors account will increase
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
If you render a service n account to a customer you debit Account Receivable and credit Service Revenue.
You can pull your free credit report, and dispute the service on line.
[Debit] Accounts Receivable 1250 [Credit] Services sales 1250
A service that has been carried out.
The debit side would be money that you owed and paid out for a service. They credit side is money that was paid to you by someone that owed you for services or products.
As long as Services are rendered outside India, Service tax is not applicable.
Yes, if the product or service is rendered to the customer and said customer has not paid the amount, the revenue has been earned, not collected, to record this transaction you would Debit Accounts Receivable (to show that the service or product has been rendered) and Credit Revenue (income). Once payment is received, then to show money has been collected, you Debit Cash and Credit Accounts Receivable (you no longer have to touch your sales/revenue account as the amount is already listed as being earned).
a service that was rendered
you have no rights
an asset