My company has paid software rent for tally I want to know in what expenense head should I record it.
Please suggest.
My company has paid software rent for tally I want to know in what expenense head should I record it.
Please suggest.
Renting a software is similar to payment of license renewal fees.
You can book under "Subscripttion Charges" or "License Renewal Charges" under Indirect Expenses.
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
CAclubindia
