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Unanswered
BrianHubbert asked a question on 22 May 2013 1:01 PM

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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Steve Larson responded on 22 May 2013 2:03 PM

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!!  

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Warren Pease responded on 22 May 2013 3:13 PM

I would use Fixed Assets

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Leslie Vail responded on 23 May 2013 9:47 PM

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

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BrianHubbert responded on 10 Jun 2013 3:43 PM

thanks!

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