Treating software
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jmp2008
Registered Posts: 9 New contributor 🐸
Hi ! Just wanted to hear from your ideas.
A client bought a software that is needed for his business its worth 2,000.00. Due to the nature of the software he can't sell it even if he decides not to use it anymore as it is only licensed to him. He is thinking of closing his business and moving abroad and wants to keep the laptop and software. The question is, will you treat this software as an asset or expense?
My first thought obviously was to treat it as an asset. What do you think ? Help !!!
JMP
A client bought a software that is needed for his business its worth 2,000.00. Due to the nature of the software he can't sell it even if he decides not to use it anymore as it is only licensed to him. He is thinking of closing his business and moving abroad and wants to keep the laptop and software. The question is, will you treat this software as an asset or expense?
My first thought obviously was to treat it as an asset. What do you think ? Help !!!
JMP
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