Regarding software purchase expenses
This query is : Resolved
21 March 2017
Dear Respected Members
Please tell software purchase expanses like accounts software billing software and antivirus software comes under which head as asset or indirect expanses if asset then it comes under depreciation mean what account head it should open and how its expenses are claimed in business and how its annual registration claims
Please tell software purchase expanses like accounts software billing software and antivirus software comes under which head as asset or indirect expanses if asset then it comes under depreciation mean what account head it should open and how its expenses are claimed in business and how its annual registration claims
21 March 2017
You can show them as assets if license is for more than one year. You can claim depreciation @ 60%. If there is annual charges, that should be shown as expense.
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