My company has paid software rent for tally I want to know in what expenense head should I record it.
Please suggest.
Abhishek Raj (Accounts executive) (28 Points)
06 December 2019My company has paid software rent for tally I want to know in what expenense head should I record it.
Please suggest.
narendra
(Accountant)
(275 Points)
Replied 06 December 2019
Renting a software is similar to payment of license renewal fees.
You can book under "Subscripttion Charges" or "License Renewal Charges" under Indirect Expenses.
narendra
(Accountant)
(275 Points)
Replied 06 December 2019
Tip: Try searching for similar questions next time before you post it.
Infact, there is a similar question already answered on this forum.
https://www.caclubindia.com/forum/under-which-head-will-the-expense-on-renewal-of-software-be-classified--508750.asp
hope this helps
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 06 December 2019
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