USA How to record the purchase of databases?


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Hello--

This is a financial services company. We purchase a database/information to help us provide a better service/target our services more efficiently. How do I record that purchase?

Thank you!
 
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kirby

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What are terms of your license to use the database?
 
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thank you. i can use it to perform the main function of the company indefinitely.
 

kirby

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If indeed you pay only once and can use it forever, then capitalize it as an asset but amortize over its useful technological life. I would not exceed 5 years, as technology changes rapidly.
 
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