FIXED ASSET OR REVENUE(indirect) EXPENDITURE
This query is : Resolved
09 April 2022
Hello Sir,
my query is regarding the passing of accounting entry
we have purchased a Software license for a period of 12 months
with Cost Rs.156000/-
now question is
1) whether this Rs.156000 will get
Debit -Software (under fixed asset)
To Supplier
or
2) whether this Rs.156000 will get
Debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
kindly note we are end users of this software & not reseller or distributor or redeveloper
Thanks in advance
Vasant Mahajani
my query is regarding the passing of accounting entry
we have purchased a Software license for a period of 12 months
with Cost Rs.156000/-
now question is
1) whether this Rs.156000 will get
Debit -Software (under fixed asset)
To Supplier
or
2) whether this Rs.156000 will get
Debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
kindly note we are end users of this software & not reseller or distributor or redeveloper
Thanks in advance
Vasant Mahajani
CA R SEETHARAMAN
(Expert)
09 April 2022
As software license is for 12 months,
debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
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