Professional Services
Proposal & Bid Cost Expensed
Expensing internal staff time and out-of-pocket costs preparing an RFP or bid submission.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Business Development Expense | Expense (+) | 1,200.00 | - |
| Cash / Staff Cost Allocated | Asset/Liability (−) | - | 1,200.00 |
💡 Accountant's Note
Pre-contract bid costs do not meet the IFRS 15 capitalization criteria because no contract exists yet. They are expensed immediately. Only incremental costs to obtain a contract that is actually won are eligible for capitalization.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
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.