Danish Safdar

Is Service Revenue an Asset? Breaking down the Income Statement

The income a company earns from providing a service is referred to as service revenue. The amount is shown at the top of an income statement and is added to product earnings revenue to show a company’s total revenue for a given time period.  Service revenue bookkeeping entries reflect an increase in a company’s asset …

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The 8 Branches of Accounting: Their Uses and How They Work

Financial accounting is classified into eight types. Each branch arose as a result of technological, economic, or industrial advancements and has its own specialised application.  Accountants typically specialise in one field. Some of these accounting branches are critical to small businesses. As applicable, their utility will be noted below. In this article, we will cover: …

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How to Make a Financial Statement for Small Business?

A financial statement is a legal document that documents a company’s financial activity. These plans depict the current state of your small business and forecast the company’s future vision and plans. Beginning with your day-to-day bookkeeping, you can create financial statements for your small business. To put together your financial statements, you’ll pull and organise …

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How to Create an Invoice in Excel? | Invoicing Solutions for Small Business

To begin billing clients for their services, small businesses can use Microsoft Excel to create their own invoices. You can either use an Excel invoice template that you can customise or create your own professional invoice from scratch. In this article, we’ll cover the following topics: How to Make an Invoice from an Excel Template …

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