What are accrued expenses and when are they recorded? + Start new discussion Follow Share with: 0 Jason Short Jason Short December 12, 2018 08:55 6 comments Sort: Date Votes Christene Williams December 12, 2018 13:24 An Accrued expense is an expense which has been incurred but not yet paid. This expense must be recorded in the accounting period in which it is incurred. Therefore, accrued expense must be recognized in the accounting period in which it occurs rather than in the following period in which it will be paid. 1 Comment actions Permalink Jason Short December 12, 2018 13:47 Thanks for the helpful answer Christene :) 0 Comment actions Permalink Reg Pillay December 13, 2018 08:45 this has been a great help thanks Christene 0 Comment actions Permalink Asher Katz December 13, 2018 10:36 Accrued expenses are reported in the current liabilities section of the balance sheet. Accrued expenses reported as current liabilities are the expenses that a company has incurred as of the balance sheet date, but have not yet been recorded or paid. Typical accrued expenses include wages, interest, utilities, repairs, bonuses, and taxes. 0 Comment actions Permalink Private User January 27, 2019 05:52 This is a test comment. 0 Comment actions Permalink Chule Ralo July 26, 2019 12:44 Very insightful thank you 0 Comment actions Permalink What's your take?Please sign in to leave a comment.