Consulting Fees Accrual Journal Entry
Accrued Consulting Fees Or Outstanding Consulting Fees Journal Entry If the company received the consulting services in advance, then it is payable by the company to consulting company for the accounting period. In that case, consulting fees is recorded in the B ooks of Accounts but still the payment is not made so it is accrued for the period. The following adjusting entry is recorded for accrued consulting fees: Consulting Fees Expense a/c XXX Accrued Consulting Fees a/c XXX ...