Question

Is tally software a fixed asset?

Answer 1

The allocation of cost for a software license, either purchased or paid in installments is capitalised as an intangible asset. Administrators may likewise perceive a responsibility to pay for it over the long run except if the permit is paid ahead of time. Hence, tally software is a fixed asset.

Also see:

• Difference Between Assets and Liabilities
• What Are Current Assets?
• What Are Non Current Assets?