Revenue accounts are the most fun to watch as a bookkeeper. Revenue is the lifeblood for success. Without revenue, the company is doomed to go bankrupt. After all, you are in business to sell your services or products and the revenue accounts are where we get to see the results of activity.
One of the four levels of personnel used to provide the accounting function in business.
To fully grasp the concept of accounting a bookkeeper must accept that there are six (6) different types of accounts. All the reports, ledgers, journals and entries revolve around these six types of accounts. Bookkeeping is the function of entering data based on the economic transaction into the respective type of account.
Accounting refers to the business function of recording economic activity. Accounting includes the processing of information and a reporting role. The accounting term encompasses a broad range of functions for every business. It starts out with a system of gathering economic information, categorizing the material, inputting the data into an accounting program, and generating outputs for decision making.