if we pay a amount for software purchase for our company at one time. what should be the account head and is it an fixed assets? what should i pass the journal for this? need to know my all account savvy.
Menu
Account head quary
Replies (7)
u can use "computer software" as account head. yes, it is an intagible fixed asset on which dep. @ 25% will be charged.
thanks buddy. is it also able to take 'software and hardware'?
journal entry will be "computer software a/c debit to cash/bank a/c"
u cannot use the word hardware because computer hardware are charged to dwp. @ 60% and hence diff. block of assets.
thanks a lot dude. will you give me a concept about intagible fixed asset?
in simple words, all those fixed assets which do not physically exist are known as intangible assets.
simply you are rock buddy.....
Recent Threads
- Partnership Firm Closure Process
- Why the Costing Department Is Important ?
- Difference in efiling portal and intimation order
- Income tax challan correction
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
- HUF'S ISSUE
- Gst interest and penalty doubts
Related Threads
CAclubindia
