Author Archives: armando

Mere willingness to undertake a project doesn’t guarantee qualification or proficiency in that specific discipline. If you’ve decided to engage in an outsourced accounting services relationship, consider these tips to maximize your investment. Apart from enhanced security and access to experts, businesses have significantly benefited from outsourced accounting. What Accounting Services Can Be Outsourced? When deliberating whether to outsource, one crucial factor to ponder is your staffing capacity. Do you possess a knowledgeable, skilled team equipped to manage the task […]

Whenever cash is received, the asset account Cash is debited and another account will need to be credited. Since the service was performed at the same time as the cash was received, the revenue account Service Revenues is credited, thus increasing its account balance. Revenues and gains are recorded in accounts such as Sales, Service Revenues, Interest Revenues (or Interest Income), and Gain on Sale of Assets. These accounts normally have credit balances that are increased with a credit entry. […]