We have renewed our Tally software license. I want to know under which head should I treat it?
Under which head will the expense on renewal of software be classified?
Rakesh Kalyani (124 Points)
28 March 2019Rakesh Kalyani (124 Points)
28 March 2019We have renewed our Tally software license. I want to know under which head should I treat it?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 28 March 2019
Ashish Kachhawa
(articles)
(483 Points)
Replied 28 March 2019
charge it to computer maintenance expense.
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 28 March 2019
Kalyani
(Chartered Accountant)
(181 Points)
Replied 29 March 2019
For Tally software, renewal fees will be paid every year. It is revenue in nature. It comes under the head Indirect expenses.
CA Manish Jathliya
(Professional)
(401 Points)
Replied 29 March 2019
IT will be Expenses only and will booked under INDIRECT EXPENSES like -Subscripttion fees, Renewal Charges.
however if you are paying fees for more than one year than you can booked proportionate Expenses and transfer balance to PREPAID Expenses.
shahyar husain
(1235 Points)
Replied 10 November 2020
Will repainting of a factory premises be considered as a capital expenditure?
Rustam Baisla Gujjar
(4 Points)
Replied 22 December 2020
if company purchased online naukri portal so where can we show under expenses head in income statement.
M Venkat
(CA finalist)
(456 Points)
Replied 08 January 2021
Tally Renewal expenses are revenue in nature can be classified as Accounting expenses or AMC under indirect expenses.
Ritik Chopra
(student)
(8128 Points)
Replied 13 February 2021
Software renewal charges are revenue in nature so they should be charged as indirect expense under Software renewal charges A/c are any other suitable head.
Soni Kurup
(2 Points)
Replied 02 November 2022
We transfer from the old warehouse to the new warehouse, we moved all the materials and we spend about 90,00/-
In which Account I have to select this expense
Ayush
(Executive )
(6640 Points)
Replied 06 June 2023
For this expense, you should select an appropriate expense account such as "Moving Expenses" or "Warehouse Relocation Expenses" in your accounting system.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171253 Points)
Replied 07 June 2023
"Sorry, I am not a featured member."
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)