Professional Services
Office Lease — Monthly Expense (Professional Firm)
Recording the monthly office lease cost for a law firm, consulting firm, or accounting practice.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Rent Expense (Office) | Expense (+) | 4,500.00 | - |
| Prepaid Rent (Released) | Asset (−) | - | 4,500.00 |
💡 Accountant's Note
Office space is the second largest cost after staff for most professional services firms. Under IFRS 16, longer leases are on-balance sheet. Short leases (under 12 months) or low-value leases may be expensed directly under the exemption.
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