An accrual allows the company to record expenses for which it expects and should pay for the services rendered / goods received during the current reporting period and to be paid in the future.
| EXAMPLE | DEFINITION |
|---|---|
| - Service provided on credit but paid later - purchases with supplier on credit - Wages owed to employee |
Accrual of expenses |
Classic samples of accruals:
Accrued revenue is money you expect to get for a service or product you already provided. Such as a customer owes you payment.
For instance, if you did an RM100 service to the customer, but the customer will pay in next month, you should note the RM100 as accrued revenue during the month.
To record this, you need to debit accounts receivable and credit the revenue to ensure the accuracy of sales.
| EXAMPLE | DEFINITION |
|---|---|
| - Service/Job performed but customer paid later | Accrual of revenue |
MACROSS helps you to build your business globally.
Our services are offered in Malaysia, Singapore, Indonesia, Philippines, Japan, China, Hong Kong and Taiwan.
JASON老大: 为大家提供有用的资讯，从找到工作到成为老板，从资金周转到享受现金流自由，从报税到税务回扣，都为你娓娓道来。
JASON BOSS
