Healthcare
Medical Malpractice Insurance Premium
Accruing the monthly cost of professional liability insurance for doctors.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Malpractice Insurance Expense | Expense (+) | 2,000.00 | - |
| Prepaid Insurance / Payable | Asset/Liability | - | 2,000.00 |
💡 Accountant's Note
Malpractice insurance is one of the highest operating costs for clinics. It is usually paid annually but must be expensed monthly.
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