In the course of business operation, enterprises will seek opinions or suggestions from professional consulting service company personnel on some related matters, so they also need to pay a certain consulting fee. The consulting service fee can be included in management expenses when calculating Subject, what are the specific accounting entries?

Accounting entries for consulting service fees

1. If consulting service fees belong to the company’s main business:

Debit: accounts receivable/bank deposits /Cash on hand

Credit: Main business income

Taxes payable - value-added tax payable (output tax)

2. If it is other Business income is included in other business income

Debit: accounts receivable/bank deposits/cash on hand

Credit: other business income

Payable Taxes - value-added tax payable (output tax)

3. If it is an expense:

Debit: management expenses

Credit: bank deposit/ Cash on hand

What are overhead expenses?

Administrative expenses refer to various expenses incurred by the enterprise's administrative department in order to organize and manage production and operations.

The specific accounting contents of management expenses include: labor insurance premiums, unemployment insurance premiums, board of directors dues, financial report audit fees, company funds, employee education funds, business entertainment expenses, technology transfer fees, and intangible asset amortization , consulting fees, litigation fees, amortization of start-up costs, management fees paid to superiors, start-up costs incurred during the preparation period, etc.

What is the main business income?

Main business income refers to the operating income obtained by enterprises engaged in production and operation activities in this industry.

The main business income varies according to the different activities engaged in by enterprises in various industries. For example, the main business income of industrial enterprises refers to product sales income; the main business income of construction enterprises refers to project settlement income; the main business income of transportation enterprises Operating income refers to transportation income; the main business income of wholesale and retail trading enterprises refers to commodity sales income;