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    mlporter9's Avatar
    mlporter9 Posts: 1, Reputation: 1
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    #1

    Mar 4, 2016, 08:16 AM
    Does anyone know of a time professional fees are accrued?
    We are moving from cash to accrual and trying to figure out if we need to accrue legal expenses based on projects they work on for us and same for accounting expenses?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Mar 4, 2016, 02:37 PM
    This would depend upon your contract with the professional. Fees may accrue by the hour or day, so you should certainly make provision in your accounts at balance date for incomplete projects or unbilled work
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