Australia In house developed software - Intangible or PPE?

[Will]

Hello All,

We developed an in-house software/ ad management platform which we use for our business everyday to offer/deliver our services.

Q: we developed this in house over 4 months and at no cash expense, just expertise and thousands of hours. Should we record this on the balance sheet? If so, as Intangible Asset or Property, Plant, Equipment?

Best,

W

 

[DerrickWD]

It's an intangible asset, based on what you have provided so far. Can enter it on the balance sheet as long as you can reliably measure the costs used to develop it (the salary expense, and what have you).

 

[Will]

Thanks Derrick, very much appreciated and I thought as much. Great resource here! Cheers.