FIXED ASSET OR REVENUE(indirect) EXPENDITURE
This query is : Resolved
09 April 2022
Hello Sir,
my query is regarding the passing of accounting entry
we have purchased a Software license for a period of 12 months
with Cost Rs.156000/-
now question is
1) whether this Rs.156000 will get
Debit -Software (under fixed asset)
To Supplier
or
2) whether this Rs.156000 will get
Debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
kindly note we are end users of this software & not reseller or distributor or redeveloper
Thanks in advance
Vasant Mahajani
my query is regarding the passing of accounting entry
we have purchased a Software license for a period of 12 months
with Cost Rs.156000/-
now question is
1) whether this Rs.156000 will get
Debit -Software (under fixed asset)
To Supplier
or
2) whether this Rs.156000 will get
Debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
kindly note we are end users of this software & not reseller or distributor or redeveloper
Thanks in advance
Vasant Mahajani
09 April 2022
As software license is for 12 months,
debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
