AA-18-Antivirus Software Assets or Expense

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Accounts Officer
563 Points Posted on 01 June 2023

All Respected Members,

Please educate me that if we purchase antivirus software for 1 year validity, how will it be considered ? It will consider expense or assets? If it will be considered assets, can we record as office equipment?

Thanks in advance for your precious time and efforts to reply this query. 

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On 01 June 2023 at 00:39 Report
Replies (7)
Quick Summary
This discussion clarifies whether purchasing one-year antivirus software should be treated as an expense or an asset. The consensus is that due to its short-term nature, it's considered an operating expense. Specifically, it should be recorded under a 'maintenance' expense account.

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CA
4330 Points Posted on 01 June 2023
It will be recorded as an expense.
2 Reply
On 01 June 2023 at 07:47
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Accounts Officer
563 Points Posted on 02 June 2023
Dear Aakrash,

Thanks for your reply.

Can you please share logic behind it to record as expense?

I found on internet that some persons recommend to record it as assets.
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On 02 June 2023 at 01:29
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Accounts Officer
563 Points Posted on 05 June 2023

Kind response awaited from Aakrash Sir. 

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On 05 June 2023 at 00:16
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Finance
3326 Points Posted on 05 June 2023

Because it is short lived. Its an operating expense.

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On 05 June 2023 at 08:52
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Accounts Officer
563 Points Posted on 20 June 2023
Dear Yasaawi Gomes,

Please let me know in which account should we record this software expense?
I understand that thi would be a indirect expense but I want to know that what should be the account name for this expense?
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On 20 June 2023 at 02:05
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Finance
3326 Points Posted on 20 June 2023

It's maintenance head

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On 20 June 2023 at 03:13
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Accounts Officer
563 Points Posted on 20 June 2023
Dear Yasaawi Gomes,

Thanks for your reply.

it's mean entry will be:

maintenance account Dr.

To Bank account Cr.
1 Reply
On 20 June 2023 at 19:31

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