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    jedik's Avatar
    jedik Posts: 8, Reputation: 1
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    #1

    Jul 31, 2012, 08:58 AM
    Accounting
    What is accounting software? Is it equipment or supplies? Where will I enter?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jul 31, 2012, 03:12 PM
    Accounting software is like any other software it is computer applications which "mechanise" the process of accounting and gathering data. Products such as Quicken and Quickbooks are entry level applications. There are a number of proprietary softwares available that range in cost up to millions of dollars depending on the size of the organisation, or an organisation may have software specifically written for their environment. Capitalisation will depend upon the expected life of the software and the cost and the usual capitalisation policies would apply and the organisations policies on software replacement would also be a consideration. Ie replace with new edition each year, then expense.
    jedik's Avatar
    jedik Posts: 8, Reputation: 1
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    #3

    Aug 3, 2012, 01:51 AM
    The transac is the firm installed an accounting software.
    And I don't know if it's supplies or equipment.
    Thanks. So, it is supplies?
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