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 s hows accou nting fees payab le b y the compa ny to accountant during t he accou nting period against w hich the accou ntant performed accounting works. So, outstanding accounting fees is not closed until it is fully paid b y the compa ny to accountants. Outstanding accounting fees is also not a real account as it is related wit h natural persons suc h as accou ntants. Accounting fees payable is a Representative Personal Account as it s hows certai n accountants to w hom the compa ny is liab le to pay for the accou nting works performed during t he period. So, accou nt title, “Outstanding Accounting Fees Account” is created to s how the total of the fees w hich the compa ny is liab le to pay to all accountants . So, Outsta ndi ng Accounting Fees is a personal account and not a nominal or a real account.