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?
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.
Want to reply to this thread or ask your own question?
You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.
