Professional Fees: This category encompasses fees paid to professionals, including bookkeepers, accountants, and lawyers. Administrative Expenses: This category includes general administrative costs, such as office supplies, salaries, and Bookkeeping Services Knoxville expenses. The reason they favor accrual-based bookkeeping is that it gives a more practical reflection of the financial condition of a company. In expansion, it permits partners and the administration of the company to make more precise financial projections.