Revenues definition
Cash received before service delivery is recorded as unearned revenue, becoming earned only when the service is delivered. Service revenue is the income a business earns by providing services to its customers. These services are typically intangible activities or benefits, meaning they cannot be physically touched or held like a product. It reflects the core activities of businesses that specialize in professional skills, labor, or expertise. Multiply the number of goods or services sold by the price you sold them for.
Calculating forecasted revenue in a business planThis means that the revenue account has a credit balance and is closed at the end of each accounting cycle to a permanent or balance sheet account.