Professional Services
Professional Indemnity Insurance Premium (Prepaid)
Paying the annual professional indemnity insurance premium — already in the dataset as a point-in-time entry; this is the separate prepaid recognition.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Prepaid PII — Professional Indemnity | Asset (+) | 4,800.00 | - |
| Cash / Bank | Asset (−) | - | 4,800.00 |
💡 Accountant's Note
Professional indemnity insurance covering 12 months is prepaid and amortized at JOD 400/month. Without current PII, most firms cannot legally practice. It is a fundamental cost of operating in professional services.
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