Patent accounting

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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  

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  • 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.

    Kind regards,

    Leslie

    Leslie Vail, CPA, MVP, MCT, MCITP, MCP, MCITS
    ASCI, Inc.    *    PO Box 600965   *   Dallas, TX 75360    *   972-814-8550   *   leslievail@earthlink.net

  • thanks!