You are here
What are Revenues?
Any amount that is generated with the use of capital or assets, which are associated with the main operations of the business before any costs or expenses are deducted is also known as revenue.
Where it appears in the Financial StatementsRevenues can be found at the top of the Income Statement, above the section of Expenses. The reason the Income Statement is constructed in such a way is to calculate Net Income, which is equal to Revenues - Expenses.
How to Record RevenuesRevenues are increased on the Credit side, and are recognised in the financial statements depending on the financial standards the business is using.
Accrued RevenuesFunds that have been earned, but not received as of the end of the reporting period. Reported as an asset on the balance sheet, until cash is received at a later time.
Try reviso for free for 14 days
Reviso is a cloud accounting platform providing efficient online collaboration between small businesses and accountants.
Choose between two different trials, both containing all the core features of our accounting system. One of the trials is without data and can be upgraded to a subscription within the 14 days period.