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Tally software purchase
Entry for tally purchased in the books of company. Is it treated as an expense?
Replies (2)
Quick Summary
It is capitalised.
Tally a/c - asset
To Bank a/c
then it is amortised as per the pattern of consumption. When one can’t establish it, use SLM amortisation.
Tally software is an intangible asset.
It should be capitalised.
It should be capitalised.
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