{"id":39453,"date":"2022-09-14T07:13:24","date_gmt":"2022-09-14T04:13:24","guid":{"rendered":"https:\/\/www.simplbooks.fi\/?p=39453"},"modified":"2025-09-19T10:20:31","modified_gmt":"2025-09-19T07:20:31","slug":"accrued-liabilities-and-accrued-receivables","status":"publish","type":"post","link":"https:\/\/www.simplbooks.fi\/en\/blog\/accrued-liabilities-and-accrued-receivables\/","title":{"rendered":"What are accrued liabilities and accrued receivables?"},"content":{"rendered":"\r\n\r\n\r\n

.Accrued liabilities and accrued receivables come into play when preparing or reversing financial statements. As the names suggest, these accounts are used to record income and expenses in connection with the financial statements. And they are reversed immediately after the new financial year begins – or later, once the payment transaction has taken place.<\/p>\r\n

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\"Accrued<\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n

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Accrued liabilities<\/span><\/h2>\r\n\r\n\r\n\r\n\r\n\r\n

Accrued liabilities include accrued expenses and deferred income. Accrued expenses refer to unpaid expenses and deferred income refers to income received in advance. In other words, if a company has unpaid expenses, they are recorded as liabilities. Or, if the company has already received money for the next fiscal year, the current fiscal year has a liability for the next fiscal year.

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Accrued expense = An expense belonging to the current financial year that has not yet been paid as of the balance sheet date.<\/span>

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These are expenses that belong to the financial year but will be paid only in the following year. Usually, these are rental expenses or calculated expenses, such as unpaid interest, holiday pay and taxes.<\/p>\r\n

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EXAMPLE<\/span><\/strong><\/p>\r\n