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 Topic
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
Related Topics
CAclubindia
