hello - new to forum - looking for insight from someone who uses GP to aggregate patent application cost then once a patent is granted amortize the aggregated cost over the remaining patent term - appears to be no software on the market that does this - appreciate any help
Thanks - Brian
Brian, it's old school but i would use MDA to accumulate these costs at a GL account level, then when granted you could move to another account with a JE or just leave and setup as a reacurring entry to amortize the costs. We use in this manner for similar topic. Good Luck!!
I would use Fixed Assets
I'm with Warren,
I too would use fixed assets. Each additional cost would have the same asset number, but with a different suffix. Doing it that way you could tie each cost addition back to the invoice, yet accumulate the cost under a 'single' fixed asset.
Leslie Vail, CPA, MVP, MCT, MCITP, MCP, MCITSASCI, Inc. * PO Box 600965 * Dallas, TX 75360 * 972-814-8550 * firstname.lastname@example.org
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