General
Accruing Monthly Utilities (Electricity/Water)
Recording estimated utility costs at month-end before the actual bill arrives.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Utilities Expense | Expense (+) | 400.00 | - |
| Accrued Liabilities | Liability (+) | - | 400.00 |
💡 Accountant's Note
To follow the accrual basis, you must estimate and record the cost of electricity used during the month, even if the bill comes later.
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QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.