Professional Fees

A professional fee is a fee that one pays to reap the benefits of a professional service. Such a professional is an individual skilled in his/her field. The fee can be charged by any professional who is providing special services like a lawyer, accountant, teacher, dentist, doctor, architect, etc. The rate is decided by the professional and is partially or fully paid in advance. Few professionals also charge a fee on an hourly basis and few charge based on the entire service.

Corporate companies maintain professional fees as an expense in their book of accounts. As corporate houses seek professional help from time to time, they incur such expenses very often. The fee is decided well in advance before availing of the service and the charges may be levied on an hourly basis and may change from individual to individual.

The charges of a professional invariably increase with the amount of experience they incur in their field. So an architect who is a fresher may not charge as much as an experienced architect who has worked for a decade. Paying a higher fee also comes with its own set of advantages like in this case experience.