Tally software purchase
ASHISH ARAT (CA Finalist) (74 Points)
22 March 2021
Entry for tally purchased in the books of company. Is it treated as an expense?
2 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 22 March 2021
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.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 22 March 2021
Tally software is an intangible asset.
It should be capitalised.
It should be capitalised.
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