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Hi,
What would be the ideal account for all of cloud computing, like google workspace, adobe?
My accountant suggested EXPENSE account name Computer and Internet Expenses or Dues and Subscriptions
Both account names make sense.
Thank you
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@Eve2019 ,
For software platform and app subscriptions, I think Dues and Subscriptions is more precise. Computer expense is more for hardware. Internet is closer to a utility/communications expense, and I've also seen it as a sub-account of Advertising.
@Eve2019 ,
For software platform and app subscriptions, I think Dues and Subscriptions is more precise. Computer expense is more for hardware. Internet is closer to a utility/communications expense, and I've also seen it as a sub-account of Advertising.
I am inclined to agree with your accountant. This type of utility is a "Service" you are paying for on a monthly or annual basis. At best, if you have paid an annual subscription up front, depending on the amount paid in relation to the size of your business or expenses, you could classify it as a "Pre-paid" expenses and then write it down each month until it is totally expensed. But it is perhaps more practical to treat the whole thing as a one time expense as it occurs.
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