accounting for software.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2011
accounting for software purchases and its annual maintenance charges.
11 January 2011
What's your question ?
Vivek Raju P
(Expert)
12 January 2011
The question is not clear but :
If software is purchased then it needs to be capitalised along with the implementation costs if any as an intangible asset.
Any annual license fee or maintainance fee paid needs to be expensed.
If software is purchased then it needs to be capitalised along with the implementation costs if any as an intangible asset.
Any annual license fee or maintainance fee paid needs to be expensed.
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