~@~Muk~@~ (Trader) (109 Points)
21 July 2011
A company pur. tally erp software costing rs. 10000/- , now which entry should be passed for this transaction. Licenced valid for one year............... it should be capitilised or not..................pls answer with reasons.
jaganathan
(accounts executive)
(272 Points)
Replied 21 July 2011
you can not capitalised as the license valid for one year. you can account it as expense.
Srawan Dadhichi
(Accountant)
(49 Points)
Replied 21 July 2011
| Originally posted by : jaganathan | ||
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you can not capitalised as the license valid for one year. you can account it as expense. |
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Please Check Whether Licence is Valid For One Year
or Tally.Net Subscripttion is Valid For One Year
Raj Kumar
(Student)
(102 Points)
Replied 21 July 2011
Mr. Jaganathan is correct
If the license is valid for more than 1 year than it shall be capitalised and shall be amortised at the end of the every year in which its license remains valid of relevent amount......
thanx.........
jyoti negi
(2 Points)
Replied 04 July 2019
CAclubindia
