Accountants record these expenses as a current liability on the balance sheet as they are accrued. As the company pays for them, they are reported as expense items on the income statement.

Accrued expenses are adjusted and recorded at the end of an accounting period. Accounts payable appear on the balance sheet ... omitted if the company’s income statement at the end of the ...

An accrual has occurred but has not yet been paid for. This can include work or services that have been completed and considered accrued expenses. Interest that has been charged or accrued but not ...