Accrued revenue occurs when a company has earned revenue but hasn't billed a client for payment. To record accrued revenue, the company accountant debits accrued billings and credits revenue for the ...

Should a small business use a cash or accrual accounting method? A CPA answers with examples. If you are an entrepreneur or small business owner, it is a good idea to familiarize yourself with both ...

Expenses are the costs of doing business to gain revenues, and they are accrued when they are incurred but not paid in the same period. Since the expense still applies to the period it was incurred, ...

There are many industries where companies provide goods or services but aren’t immediately paid for them. From an accrual basis accounting standpoint, these represent accrued revenue for the company.