What account code for IP (e.g. cost of Trademark)

Question asked by Pete 8 years ago

I would normally ask my bookkeeper or accountant, but am "between accountants" right now.

My comapny has paid for a trademark and I'd like to know which account code I use for that, thanks

3 Replies

Paul Scholes

6 entries

Hi Pete - it's an "Intangible asset" so create a new code with that 'type"

8 years ago

Pete

140 entries

Thanks Paul. I have created the account IP protection under Intangible Assets. I presume that would also include patent costs

8 years ago

Paul Scholes

6 entries

Yes, although they may have a different useful life for the purpose of amortisation (depreciation)

8 years ago

Reply to this post