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Accrued Revenue MADE EASY | Adjusting Entries 

Accounting Stuff
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💥Adjusting Entries Cheat Sheet → accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → accountingstuff.com/practice-...
Accrued Revenue, aka. Unbilled Revenue is an adjusting entry that is very common in service businesses. In this video, you'll find out what Accrued Revenue means, and how it works using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → • Prepayments and Accrua...
▪ Prepaid Expenses → • How Prepaid Expenses W...
▪ Deferred Revenue → • Deferred Revenue Expla...
▪ Accrued Expenses → • Accrued Expenses Broke...
▪ Accrued Revenue → • Accrued Revenue MADE E...
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#accounting #adjustingentries #accountingstuff

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27 июн 2024

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Комментарии : 280   
@AccountingStuff
@AccountingStuff 5 лет назад
That's a wrap on the Adjusting Entries mini-series! You can find links to each video right here: ▪ Intro to Adjusting Entries → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H0N7tvXuJlU.html ▪ Prepaid Expenses → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RE7wrflFOGA.html ▪ Deferred Revenue → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-F1zNQ1wga7o.html ▪ Accrued Expenses → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9aZ6CCj-ies.html ▪ Accrued Revenue → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-7ibN25VCvFg.html ▪ WHOLE PLAYLIST → ru-vid.com/group/PL5zKSeS09l31dhHvwhS4sVjcckQSPGqtp
@richardfrazer3432
@richardfrazer3432 3 месяца назад
Error, "Accrued Revenue..."earnt for the client we haven't built for client,". Should be "billed"?
@AccountingStuff
@AccountingStuff 3 месяца назад
Yes it should be billed@@richardfrazer3432
@bellamatela4273
@bellamatela4273 4 года назад
I must say, you are good! You explained in less than 10 minutes what took my lecturer 2 hours.
@AccountingStuff
@AccountingStuff 4 года назад
Thanks Bella!
@kgabisopoto5039
@kgabisopoto5039 2 года назад
Honestly
@sallyho146
@sallyho146 11 месяцев назад
@@AccountingStuffwe don’t have an accrued account. So I booked it in the Other AR non ledger account. My accounting manager boss told me to book it in the AR sub ledger account 😂. Btw, where do you group your accrued revenue account in assets section? Under current asset section or else
@jacksingarajah
@jacksingarajah 4 года назад
You gotta respect the filming and editing put into this. Respect my guy
@AccountingStuff
@AccountingStuff 4 года назад
Cheers Jack :)
@niloykarmaker1024
@niloykarmaker1024 5 лет назад
HANDS DOWN!! THIS IS THE BEST RU-vid CHANNEL! PRODUCTION LEVEL......INTERACTION LEVEL....HELPFUL!! WHAT MORE I CAN ASK FOR! LOVE FROM BANGLADESH!
@AccountingStuff
@AccountingStuff 5 лет назад
Haha, thanks mate! Best wishes from Canada
@niloykarmaker1024
@niloykarmaker1024 5 лет назад
@@AccountingStuff so you are from CANADA? I thought you are an AMERICAN.
@a.c.n.9421
@a.c.n.9421 5 лет назад
Seriously!!!
@AccountingStuff
@AccountingStuff 5 лет назад
@@niloykarmaker1024 I'm from the UK but I live in Canada
@niloykarmaker1024
@niloykarmaker1024 5 лет назад
@@AccountingStuff hmm.. now it goes with your akcent.
@dalenapier2956
@dalenapier2956 2 года назад
I'm making accrual adjusting entries for an audit, and the accrual expense/revenue videos are priceless in helping me take the right steps. Thank you!
@kondwanibarton1391
@kondwanibarton1391 2 года назад
OMG! Where have you been all my life 💃💃 Thanks
@elieldan1997
@elieldan1997 8 месяцев назад
why do accounting teachers not explain things like this, so simple, so understandable, so clear
@AccountingStuff
@AccountingStuff 8 месяцев назад
Glad you found it useful!
@jakeelder8830
@jakeelder8830 2 года назад
You are a literal life saver. I appreciate you taking the time to explain the concepts slowly and carefully, wouldn't have made it through ACC2430 with out you thank you!
@lindadowling6702
@lindadowling6702 2 года назад
I am taking Accounting courses online and I am so happy to have found your channel. Seeing it as you put it up in your videos are a huge help! Thank you.
@TheBandi17
@TheBandi17 4 года назад
Man I love you, you're a legend. Honestly don't know what I would have done at my exams without you. And I start enjoying accounting now ! Thank you so much
@AccountingStuff
@AccountingStuff 4 года назад
Cheers Cyril! Hope the exams went well!!
@ilayda9067
@ilayda9067 4 года назад
I LOVE your examples, really makes the things way easier to remember!
@AccountingStuff
@AccountingStuff 4 года назад
That's great to hear, thank you!
@roxy505
@roxy505 2 года назад
You're a fantastic teacher. I wouldn't be making it through my course without your videos. Thank you!
@kimzzz3
@kimzzz3 3 года назад
I just want to say you helped me a lotttt, I already watched half of your videos. You were able to explain accounting stuffs easily. More videos to come James, thank you so much. More subscribers to come🥳
@AccountingStuff
@AccountingStuff 3 года назад
Thanks Kim, more videos are coming soon :)
@soemoe8237
@soemoe8237 4 года назад
You made accounting very interesting. You're a great teacher. Very clear, precise and entertaining. Your channel is the best accounting channel on RU-vid. Thanks, James! This series hasn't finished yet, right?
@AccountingStuff
@AccountingStuff 4 года назад
Thanks Soe! Yes, the Adjusting Entries Mini-Series is complete. But plenty more Accounting vids coming soon
@gordwilkes
@gordwilkes 2 года назад
This is terrific James. I've been struggling with adjustments on the old multicolumn worksheets. So showing us your T accounts has been so helpful to my learning. GREAT VIDEO!
@theMOCmaster
@theMOCmaster 4 года назад
This is as far as my class goes thanks for everything!
@AccountingStuff
@AccountingStuff 4 года назад
No worries, you're very welcome! All the best
@wayatanka6085
@wayatanka6085 2 года назад
Thanks for all the hard work you put into explaining accounting. Super impressed with how effective and efficient your teaching style/ accounting logic is.. really helped out. This is a subject in finance that often gets underappreciated yet it's essential. Much respect
@AccountingStuff
@AccountingStuff 2 года назад
Thanks for your kind words!!
@pabloavila6397
@pabloavila6397 3 года назад
Accounting aside, these videos are insane. The amount of effort being put into them is remarkable. Congrats homie
@AccountingStuff
@AccountingStuff 3 года назад
Cheers Pablo!
@Jendabendaify
@Jendabendaify 4 года назад
Absolute legend this man. Explaining things in simply in entertaining fashion. Will definitely buy the cheat sheet. My favorite YT channel!
@AccountingStuff
@AccountingStuff 4 года назад
Thanks and cheers for your support!
@lydiathornton7914
@lydiathornton7914 4 года назад
You are Awesome!!!! I always had a hard time understanding accounting...till now. You are clear and concise and NEVER boring!!!! Not to mention ur VERY EASY ON THE EYES! Thank you 😊 so much.
@AccountingStuff
@AccountingStuff 4 года назад
No worries Lydia, you are very welcome!
@MrsEjze
@MrsEjze 4 года назад
THANK YOU SO MUCH.. You have no idea how much these videos have helped me. I bought the cheat sheet and I am sure I will use it tons. BEST VIDEOS ON LINE
@AccountingStuff
@AccountingStuff 4 года назад
No worries, it's great to know that the videos have helped you out. I hope you find the cheat sheet helpful!
@191125
@191125 3 года назад
Just bought your cheat sheet bundle. Please continue showing examples in quickbooks online for the small business owners out here watching your videos. Thanks!
@AccountingStuff
@AccountingStuff 3 года назад
Thanks for supporting the channel!! I appreciate it. Cheers for your suggestion
@sallychen4955
@sallychen4955 4 года назад
I have to say your channel is the best one I found during this quarantine !! Thank you very much for helping !!
@AccountingStuff
@AccountingStuff 4 года назад
Thanks Sally! I'm happy to help. Hope you're keeping safe!
@HectorGarciaCPA
@HectorGarciaCPA 5 лет назад
purchased it... love that you are monetizing!
@AccountingStuff
@AccountingStuff 5 лет назад
Cheers Hector!
@flaviofeniello
@flaviofeniello 4 года назад
Each video is very useful to improve my English and in particular Accountung English! Many thanks, greetings from Italy
@AccountingStuff
@AccountingStuff 4 года назад
Glad to hear it Flavio! All the best from Canada
@Niaax_09
@Niaax_09 4 года назад
Thank you so much!!! Your vids got me an A in my midterms. I have my finals tomorrow and I’m super nervous but your videos are helping a lot!!!!!!
@AccountingStuff
@AccountingStuff 4 года назад
Good luck!!!
@AC_Blanco
@AC_Blanco 5 лет назад
Bought! Will come very handy next year for Financial Reporting module 👍🏻
@AccountingStuff
@AccountingStuff 5 лет назад
Legend!
@NoNameLondon
@NoNameLondon 4 года назад
Man, this is amazing! I need to watch over this again tomorrow. Thanks for recommending that video. I understand everything, although, it needs to sink in. I can't show enough appreciation. Thank man! (I'll check out the PFD too)
@AccountingStuff
@AccountingStuff 4 года назад
No problem, sometimes it helps to look at a few scenarios to fully appreciate a concept.
@charnissepienaar7493
@charnissepienaar7493 3 года назад
Just love your vibe and energy and make Accounting seem a little easier
@AccountingStuff
@AccountingStuff 3 года назад
Thanks Charnisse, all the best with your studies!
@tevitatalanoa9880
@tevitatalanoa9880 4 года назад
I just bought adjusting entries cheat sheet.. Really useful. Thanks bro!! 💯💯 Happy to support ur work!
@AccountingStuff
@AccountingStuff 4 года назад
Thanks for your support! I really appreciate it
@kirolosmakram881
@kirolosmakram881 2 года назад
yo i know you might not see this but you made me sooooooo happy helped me alot for my exam tomorrow shared it with my friends thay absoloutly loved it
@GlimmerEffect
@GlimmerEffect 24 дня назад
Wow! You are such an outstanding teacher! Thank you x1000!
@AccountingStuff
@AccountingStuff 24 дня назад
Happy to help!
@carolynespancho4415
@carolynespancho4415 4 года назад
bought it! its been very helpful. Thank you for sharing such knowledge.
@AccountingStuff
@AccountingStuff 4 года назад
Awesome, thanks Carolyn! All the best
@andreicudisal2731
@andreicudisal2731 2 года назад
I'm currently a 12th grade student learning accounting. Your videos helped me a lot in understanding the complexity of the subject. I've also got pretty high grades so thank you!!
@AccountingStuff
@AccountingStuff 2 года назад
Congrats on your high grades! Great to hear it's going well for you :)
@palhellum1806
@palhellum1806 2 года назад
This series has been extremely helpful - thank you so much
@AccountingStuff
@AccountingStuff 2 года назад
You're very welcome!
@bg048
@bg048 3 года назад
Love your videos! This channel definitely needs more attention! It would be awesome if you made a video on the closing process!
@AccountingStuff
@AccountingStuff 3 года назад
Thanks for your suggestion!
@mannyortiz1039
@mannyortiz1039 3 года назад
I have learned more watching these videos than my lectures.. thank you!!
@AccountingStuff
@AccountingStuff 3 года назад
No worries Manny, you're most welcome :)
@AndreiQuintana
@AndreiQuintana 3 года назад
this is such a blessing. Thank you so much!
@yveschristiandjenzou5492
@yveschristiandjenzou5492 3 месяца назад
Thank you. This video helps me a lot. before I watch it all was mixed up in my head but know it’s all clear and my work is becoming very easy.
@AccountingStuff
@AccountingStuff 3 месяца назад
Great to hear it's making sense :)
@aaglobalfx
@aaglobalfx 2 года назад
i enjoyed this one, the cloud in my mind started to clear on this episode. Thank you!
@AccountingStuff
@AccountingStuff 2 года назад
No problem :)
@edmerced1522
@edmerced1522 Год назад
Wow excellent work in the explanation. It’s so much easy to get this when you said “hold it temporarily in the BS”
@AccountingStuff
@AccountingStuff Год назад
Great to hear it's making sense :)
@dorelkarafili3
@dorelkarafili3 4 года назад
You are amazing man, this videos are so much helpful. Ur doing a great job.
@AccountingStuff
@AccountingStuff 4 года назад
Thanks Dorel!
@josephriverajulierichards7897
@josephriverajulierichards7897 2 года назад
Thank you, this was extremely helpful and I appreciate you putting this out
@HectorGarciaCPA
@HectorGarciaCPA 5 лет назад
brilliant
@sandyvargas8915
@sandyvargas8915 10 месяцев назад
Just purchased all your sheets 🎉Thank You!!
@AccountingStuff
@AccountingStuff 10 месяцев назад
Thanks for your support!
@ankitabhuyan4848
@ankitabhuyan4848 4 года назад
Very informative, helpful videos . Thank you for making it easier to me :)
@AccountingStuff
@AccountingStuff 4 года назад
No worries Ankita! It's great to hear that accounting is becoming easier for you.
@leovelynomasdang2035
@leovelynomasdang2035 3 года назад
Favorite Accounting Channel :)
@AccountingStuff
@AccountingStuff 3 года назад
Thanks Leovelyn!
@md.modasserhossain8040
@md.modasserhossain8040 3 года назад
Thanks James for clarifying the issue which was once really confusing for me.
@AccountingStuff
@AccountingStuff 3 года назад
No problem, I'm happy to help :)
@maiphuong5168
@maiphuong5168 Месяц назад
Thank you so much. Im struggling a lot with this adjustment through book. Easy to understand now
@AccountingStuff
@AccountingStuff Месяц назад
Great to hear it's making sense :)
@Loveii-rg3tp
@Loveii-rg3tp 21 день назад
What a relief! Thank you for helping.
@AccountingStuff
@AccountingStuff 21 день назад
You're very welcome :)
@subhanarshad9618
@subhanarshad9618 3 года назад
Bro you are the Great Clear all the query
@AccountingStuff
@AccountingStuff 3 года назад
Thanks buddy :)
@sameedagha5133
@sameedagha5133 5 лет назад
Love this channel. Waiting for a video on 'Inventory'.
@AccountingStuff
@AccountingStuff 5 лет назад
Cheers Sameed, and thanks for your suggestion!
@user-wb8pd7tm3y
@user-wb8pd7tm3y 9 месяцев назад
You’re a life saver!
@AccountingStuff
@AccountingStuff 9 месяцев назад
Thanks! Glad I could help
@merveilmeok2416
@merveilmeok2416 4 года назад
The example is genial. Good job.
@AccountingStuff
@AccountingStuff 4 года назад
Thanks buddy
@abirsadafofficial
@abirsadafofficial 4 года назад
Please make a video on UNEARNED REVENUE VS OUTSTANDING REVENUE! LOVE FROM BANGLADESH IN ADVANCE
@AccountingStuff
@AccountingStuff 4 года назад
Hey Abir, cheers for the suggestion!!
@angelakim1275
@angelakim1275 3 месяца назад
awesome explanation! Thanks!!!
@AccountingStuff
@AccountingStuff 3 месяца назад
No problem, hope it made sense :)
@naif7225
@naif7225 Год назад
The best !!!!!!!!
@rajmehta4883
@rajmehta4883 3 месяца назад
fantastic video. You did a great job making this really simple to understand
@AccountingStuff
@AccountingStuff 3 месяца назад
Thanks, glad you enjoyed it :)
@FRANKWHITE1996
@FRANKWHITE1996 4 года назад
Well explained. Thanks
@Foodchapters
@Foodchapters 2 года назад
Explained very nicely and simpler way
@AccountingStuff
@AccountingStuff 2 года назад
Thanks!
@vinitpatel7517
@vinitpatel7517 4 года назад
Explained it better than Becker for FAR!! Thanks!
@AccountingStuff
@AccountingStuff 4 года назад
Thanks Vinit!!
@christinaahn1887
@christinaahn1887 3 года назад
Thanks for another great video! :)
@AccountingStuff
@AccountingStuff 3 года назад
You're most welcome :)
@peterpark6066
@peterpark6066 2 года назад
Great Stuff! You are one talented guy.
@AccountingStuff
@AccountingStuff 2 года назад
Thanks for your kind words!
@jeremygracias
@jeremygracias 5 лет назад
Keep going mate, i like ur thumbnails and contents
@AccountingStuff
@AccountingStuff 5 лет назад
Thanks Jeremy, I don't plan on stopping anytime soon
@haroldvickers5112
@haroldvickers5112 3 года назад
Solid 10/10 thank you so much
@AccountingStuff
@AccountingStuff 3 года назад
Cheers Harold :)
@CamiloSanchez1979
@CamiloSanchez1979 3 года назад
Fantastic playlist, thank you Sir
@AccountingStuff
@AccountingStuff 3 года назад
Thanks!
@hazvineigomba2393
@hazvineigomba2393 Год назад
You are the best
@francosannan4681
@francosannan4681 4 месяца назад
Thanks a Lot - Perfect Videos
@AccountingStuff
@AccountingStuff 4 месяца назад
You're very welcome :)
@af1132racing
@af1132racing 2 года назад
Just got through this whole mini series, wow, very nice! I can’t help but want to find some middle ground between the cash basis and the accrual basis, but not that modified cash/accrual basis that government entities use. Here is an idea that I cannot get out of my head: IBR basis. The IBR basis (Invoice-Bill-Receipt basis) recognizes revenue when an invoice or sales receipt is generated and recognizes expenses when a bill or purchase receipt is generated. This would eliminate the need for these adjusting entries, and would place the focus back on the accounting triggers themselves. I argue that the focus should be placed on the accounting triggers, especially when focusing on the accruals side of this mini series, and the reason is that for those who have seller/buyer relationships on account, you wouldn’t and shouldn’t expect cash to change hands until after an invoice/bill is created. I’m interested to hear the communities response!
@sapsalingpusacattalkmaykwe1556
@sapsalingpusacattalkmaykwe1556 2 года назад
Genius!
@HOMEFOODMANIACS
@HOMEFOODMANIACS 5 лет назад
thanks for the video
@usalem
@usalem 4 года назад
Hi,,, you are providing a great material especially for someone like me know nothing about accounting but with your videos i think i know much more, I have bought the adjusting entries cheat sheet, it is great, but I request you please to make more detailed cheat sheets for all 4 types of adjusting entries, for example for the Pre-paid expenses , how it is recorded, and adjusted and readjusted and what accounts are affected in both income statement and balance sheet .... this would be great for us to understand it more and memories it :) Thank you
@AccountingStuff
@AccountingStuff 4 года назад
Hey Usama, thanks for your suggestion! I'll look into that
@pintotazzo
@pintotazzo 4 года назад
Great work dude
@AccountingStuff
@AccountingStuff 4 года назад
Cheers :)
@srinurafiqah2803
@srinurafiqah2803 4 года назад
Do cover irrecoverable debts! Your videos are really helpful for my accounting exams!!
@AccountingStuff
@AccountingStuff 4 года назад
Thanks for the suggestion, I'll keep it in mind!
@reemathakkar223
@reemathakkar223 2 месяца назад
Thanks alot from India..I hope i can use the understanding in cpa exams too
@AccountingStuff
@AccountingStuff 2 месяца назад
The basic concepts that I cover in my videos are applicable everywhere
@jamese.jonesjr.1751
@jamese.jonesjr.1751 6 месяцев назад
Very informative series. I bought the cheat sheet too. Good work ma'man.
@AccountingStuff
@AccountingStuff 6 месяцев назад
Cheers and thanks!
@jamese.jonesjr.1751
@jamese.jonesjr.1751 6 месяцев назад
You're welcome! @@AccountingStuff
@woeichernglow739
@woeichernglow739 3 года назад
bought the cheat sheet!
@AccountingStuff
@AccountingStuff 3 года назад
Thanks for your support!
@AhmedAli-hp5lv
@AhmedAli-hp5lv 3 года назад
Nice job
@AccountingStuff
@AccountingStuff 3 года назад
Thanks Ahmed!
@allu76d
@allu76d 3 года назад
👏👏👏 Great
@AccountingStuff
@AccountingStuff 3 года назад
Thanks :)
@rajeshvatturu6609
@rajeshvatturu6609 5 дней назад
Ur explanation to good ❤
@AccountingStuff
@AccountingStuff 4 дня назад
Thanks, I'm glad you found it useful :)
@hlengiwedakile5861
@hlengiwedakile5861 3 месяца назад
Thank you for helping me obtain my degree
@AccountingStuff
@AccountingStuff 3 месяца назад
Congrats on getting your degree! That's all you :)
@TheRealFlacus
@TheRealFlacus 5 лет назад
you should do financial statement analysis next... vertical & horizontal analysis, etc.
@AccountingStuff
@AccountingStuff 5 лет назад
Hey Giancarlo, cheers for the suggestions!!
@via624
@via624 4 года назад
watching this last minute at 12am so i don't fail tomorrow HDKSJS
@AccountingStuff
@AccountingStuff 4 года назад
Good luck in your exam!!
@annakelly7214
@annakelly7214 4 года назад
Hi, brilliant stuff, very helpful while I study financial accounting. Any chance for similar videos on IRRECOVERABLE debts and irrecoverable debts paid as well as ALLOWANCES for Receivables?
@AccountingStuff
@AccountingStuff 4 года назад
Hey Anna, thanks for your suggestions!
@berhanukebede5763
@berhanukebede5763 4 года назад
tanx bro
@AccountingStuff
@AccountingStuff 4 года назад
No worries Berhanu!
@adrianmonge5963
@adrianmonge5963 4 года назад
very nice video. One thing that should be mentioned is that Revenue is generally booked when there is certainty and agreement from the client and the service has been provided. You may have done work, but if there is no acceptance, in any form, such as a contract or statement of work, revenue would be compromised and you would not be able to record it.
@AccountingStuff
@AccountingStuff 4 года назад
True, I might have to make a another video on Revenue Recognition
@atdepth000
@atdepth000 Год назад
​@@AccountingStuffWhy did you record revenue in June when there wasn't an invoice yet?
@carlosmartinez-qr2ot
@carlosmartinez-qr2ot 5 лет назад
Just bought totally worth it I actually got an Ace in my exam from watching your videos
@AccountingStuff
@AccountingStuff 4 года назад
Congrats Carlos!! So happy that you aced your exam!
@slurpee7530
@slurpee7530 3 года назад
Hi. I have a question.Then at the end of this Example after received the cash i need to post 3 journal entries or just 2 ?
@Alphawaveshipping
@Alphawaveshipping Месяц назад
Hi James i am abit confused with entry of sales invoice, when the sales invoices is posted then revenue will be credited again in july and it will be double entry unless we debit revenue and credit the accured revenue to nullify the effect.Please correct me if im wrong.
@user-wi9nn6dz8w
@user-wi9nn6dz8w 8 месяцев назад
How is it different from sales in excess of invoicing/billing for point-in-time revenue recognition?
@teeblack6629
@teeblack6629 3 года назад
Hello James , your videos have helped me greatly in my studies. Please can you do a video on accrual /prepayment accounting for when you have a bill that’s for 3 months. Say you’ve received a bill for jan, feb, and March , you are billed in March for the three months. How do you account for each month in the books, and adjusting for them. The question papers I’ve used to practice on and tested on, do not specify exactly when the company pays the bill. It gives you when they year ends but that’s it. Say it’s feb, do you account for January’s “ earned” part of the bill in the books or do you account for both jan and febs “earned” portion of the bill? In the final accounts. I’ve been puzzled by these type of questions whether it’s accrued or prepayment adjustments in the final accounts. Please can you help.
@AccountingStuff
@AccountingStuff 3 года назад
Thanks for your request!
@Michael.design
@Michael.design 5 месяцев назад
So do I understand correctly that if one bills/sends an invoice at the same moment of the delivery of the goods or services it will be a debit of the accounts receivable and there would be no accrued revenue? Or do they exist next to eachother?
@darkshinigami9438
@darkshinigami9438 3 года назад
Can you please make a video about account receivables that are not received and the bad debt thing?
@AccountingStuff
@AccountingStuff 3 года назад
Thanks for your request!
@NaveedKhan-ic3km
@NaveedKhan-ic3km Год назад
Good Explanation but adjustment entries always difficult in modern accounting softwares.
@abdallahhajjar8760
@abdallahhajjar8760 2 года назад
thnx
@AccountingStuff
@AccountingStuff 2 года назад
No problem :)
@tomleslie3807
@tomleslie3807 5 лет назад
Hi James, can you do a video about adjusting entries for bad debts and doubtful debts allowance?
@AccountingStuff
@AccountingStuff 5 лет назад
Cheers for your suggestion Tom!
@jayzee2634
@jayzee2634 4 года назад
My guy, you deserve all the subscribers! Absolutely amazing videos bro, my prof couldn’t even teach like this. Btw I saw that you used Canadian currency in another video haha, best wishes from Ontario!
@AccountingStuff
@AccountingStuff 4 года назад
Cheers mate! Haha yes, I'm in Vancouver so it's all I have available. All the best!
@nasseryousif1222
@nasseryousif1222 4 года назад
Whats the difference between accrued revenue and accounts receivable ??
@concerned_2023
@concerned_2023 3 года назад
Not sure why someone would do a GL entry instead of issuing an invoice if the work completed in a period, but I can see if the work flowed over multiple periods particularly year end where a estimate of earned income should be recorded. Then there is the issue of sales taxes. Record them as revenue is earned or when the invoice is issued? I must admit that I have gotten lazy in monthly adjustments, but by watching your videos it offers a refresher of what we should be doing if rules are to be followed.
@AccountingStuff
@AccountingStuff 3 года назад
Hey Rick, sometimes you aren't allowed to bill until you hit a certain milestone. Or the invoice doesn't get approved on time. It happens surprisingly often actually. Sales tax is recorded once the invoice is issued.
@maressamelo7635
@maressamelo7635 Год назад
Hello, I have a question. If the company received a good in June, the company paid the invoice in June but by error the invoice was posted only in July. Should I do a adjusting entry? Thanks
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