Hello
We have a small business that we are just starting. We obtained a set of UPC codes from the GS1 organization. The initial fee was $750. There will also be a yearly fee to keep the barcodes active. I believe the yearly fee will get expensed as a cost of doing business. I am not sure how to handle the initial fee. Any suggestions on whether to capitalize or expense?
Thanks for any thoughts.
S
We have a small business that we are just starting. We obtained a set of UPC codes from the GS1 organization. The initial fee was $750. There will also be a yearly fee to keep the barcodes active. I believe the yearly fee will get expensed as a cost of doing business. I am not sure how to handle the initial fee. Any suggestions on whether to capitalize or expense?
Thanks for any thoughts.
S