When an enterprise purchases Kingdee financial software, it should be accounted for as an intangible asset. How should the relevant accounting entries be prepared?
Entry entries for purchasing Kingdee financial software
Specific entries:
1. When purchasing financial software, the entry entries are:
Borrow : Intangible assets - financial software
Loan: bank deposit/cash
Taxes payable - value-added tax payable - input tax
2. Intangible assets for the month Add amortization beginning in the current month:
Debit: administrative expenses - amortization of intangible assets
Credit: accumulated amortization
The content of intangible asset accounting is the commercial bank’s accounting of intangible assets Accounting for acquisition, transfer, investment and amortization of assets. Intangible assets refer to non-monetary assets without physical form, including patents, trademarks, copyrights, non-patented technologies, leasing rights, land use rights, goodwill, self-designed and authenticated scientific research results and software systems, etc. .
How to determine the amortization period of intangible assets?
The "Regulations on the Implementation of the Enterprise Income Tax Law of the People's Republic of China" (Order No. 512 of the State Council of the People's Republic of China) stipulates that the amortization expenses of intangible assets calculated according to the straight-line method are allowed to be deducted. . The amortization period of intangible assets shall not be less than 10 years.
As an investment or transferred intangible asset, if the useful life is stipulated in relevant laws or contracts, it can be amortized in installments according to the prescribed or agreed useful life.
Expenditures for outsourced goodwill are allowed to be deducted when the entire enterprise is transferred or liquidated.