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-   -   Accounting issues online support? (https://www.askmehelpdesk.com/showthread.php?t=603683)

  • Oct 14, 2011, 02:04 AM
    saleemshakeer
    Accounting issues online support?
    We have purchased 10 units of hardwares @ $ 15000.00 each from a vendor and 10 units of internt subscription @ $ 500.00(per month) from another vendor. The hardwares and internet will be installed to 10 clients' premises as a package for 24 months. We charge $ 32,000.00 for the package for 24 months per client. My question is:

    1) How will we treat the purchase as the cost and profit lasts for 24 months?

    2) How will we treat the COGS and Profit as we need to prepare the financial reports each month?

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