Management Fees Accrual Journal Entry
Management Fees Accrual Definition And Meaning In Accounting Management Fees Accrued or Payable is a Current Liability for the company to pay to the person who manages the business of the company against the services rendered to the company / corpora tion during the month. It has been incurred by the company a nd recorded in the Books of Accounts but still the payme nt is not paid to the management. It is an example of Accrued Expenses or Outstanding Expenses or Accrued Liabilities . The Adjusting Journal Entry is made at the end of the month according to Accrual Basis of Accounting : Management Fees Account XXX Management Fees Pay...