Differences in the process of activities and the resulting products make accounting services companies also different. Ideally, service companies have a simpler accounting process compared to other types of companies.
Differences in characteristics between types of companies also cause differences in some transactions that exist in service companies. If you are looking for someone who is an expert in accounting for your company, you can look for it at https://lokalerevisorer.dk.
Here are some types of service company accounting transactions:
Purchase
This purchase transaction is an activity of buying a product. Purchase transactions conducted by service companies such as the purchase of equipment and work equipment. All of that is done to provide service and satisfaction to customers. Next, you must record other transactions related to the purchase transaction. For example, Shizuka Salon makes purchases in the form of hairdryers, scissors, vise kits, hair vitamins at the Beauty Shop, so after the purchase is made you must immediately record it in your business records.
Income
Like other companies, service companies also have a goal to make a profit. The income from service companies is revenue from services that have been provided. Therefore, service entrepreneurs will provide the best service. Income transactions must be recorded in the company’s books both in cash and credit.
Payment of Charges
Besides spending money to buy necessities such as equipment and supplies. Service companies also have costs or expenses. As for examples of expenses that are usually issued such as electricity, telephone, internet, administration, and other expenses.
Receipt of Receivables
Receivables represent sales or services rendered on credit. In accordance with the policies/agreements made, the consumer will pay off the payment within the specified time period. So that at the time of payment of receivables, the company must also record it.
Investment
When it was first established there must have been a capital deposit from the owner or the investor. Well, all investments must also be recorded properly. Especially if the funds or capital obtained from other parties. Thus, the division of results and returns are clear.
That’s the information about accounting service companies that you need to know. That way you can distinguish between service companies with other types of companies. In addition, by understanding the type of transaction, you can also determine the post/account of each transaction that occurs correctly. Thus, you can reduce the risk of errors in financial management. The number and type of transactions that occur at service companies differ between companies, depending on whether or not the scope of operations of the company itself.