Accrued Accounting Fees Is A Nominal Account Or A Real Account Or A Personal Account

Accrued Accounting Fees / Accounting Fees Payable / Outstanding Accounting Fees is not a nominal account as it shows accounting fees payable by the company to accountant during the accounting period against which the accountant performed accounting works. So, outstanding accounting fees is not closed until it is fully paid by the company to accountants.

Outstanding accounting fees is also not a real account as it is related with natural persons such as accountants.

Accounting fees payable is a Representative Personal Account as it shows certain accountants to whom the company is liable to pay for the accounting works performed during the period. So, account title, “Outstanding Accounting Fees Account” is created to show the total of the fees which the company is liable to pay to all accountants.

So, Outstanding Accounting Fees is a personal account and not a nominal or a real account.