Registration Fees Journal Entry

Registration Fees Definition And Meaning

Registration fees is the fees which is paid to the registrar of the office for starting a business or starting a new product or service.

The journal entry to record registration fees is shown below:

                                     Registration Fees Expense a/c    XXX

                                                                                    Cash a/c   XXX

                                                  (Registration Fees Paid for the Period)

Registration Fees is an Expense which is recorded in the Income Statement.

Registration Fees Accrual Journal Entry | Registration Fees Outstanding Journal Entry | Registration Fees Payable Journal Entry

If registration is not paid for the period, although, it is incurred, then following adjusting journal entry is recorded according to Accrual Basis of Accounting as shown below:

                                           Registration Fees a/c  XXX


                                                                           Accrued Registration Fees a/c   XXX


                                  (Registration Fees Payable for the Period)

At the end of the period, when it is actually paid, then the above entry is reversed.

What Type Of Expense Is Registration Fee?

It is a Temporary or Nominal Account as it is closed to Income Summary Account at the end of the accounting period.