[SABBELLAH]

How do I treat expenses manangement and consultancy fees,Technical Fess, and please give me examples of such.

[ROLCAM]

They are all recognizable genuine expenses.
All expenses are DEBITS.
You should debit the Income Statement.
Examplesof each of the items are as follows:-

Management Expenses.
Expenses incurred by Management in fulfilling
Their duties.

Consultancy Fees.

Expenses specifically incurred with
People that offer special consultancy services.

Technical Fees.

Expenses specifically incurred with
People that offer special technical services.

[ANB428]

Stop answering their homework.

[morgaine300]

ANB, you're wasting your breath.

Although it probably didn't help much anyway. This is one of three times this has been posted, except the other two include a list of expenses that don't really fit those categories. (I just love it when someone posts three times, and then asks the question differently.)

And rolcam, could you explain exactly how you "debit the income statement." That's very interesting.

[ROLCAM]

DEBITING THE INCOME STATEMENT!
__________________________________

When closing all the expenses accounts.

All expenses accounts are credited and in turn
The Income Statement is DEBITED!

It is here that you determine the profit or the loss for the period.

[morgaine300]

You don't debit a financial statement. You debit accounts.