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This question is aimed at those with Ltd companies in particular.
The way I see it a domain name is an asset, that you have given a value, the same as a car, printer, or phone system.
The normal way of recording assets, and depreciation of the asset value would be '(purchase cosy - depreciation rate) = Asset Value'. You them move the difference in value to the corresponding depreciation account.
With a domain name you would increase the value for a domain, so that difference would be recorded where?
The same goes for domains you are dropping, where would I record the loss from the 'Domains (Assets)' account?
The way I see it a domain name is an asset, that you have given a value, the same as a car, printer, or phone system.
The normal way of recording assets, and depreciation of the asset value would be '(purchase cosy - depreciation rate) = Asset Value'. You them move the difference in value to the corresponding depreciation account.
With a domain name you would increase the value for a domain, so that difference would be recorded where?
The same goes for domains you are dropping, where would I record the loss from the 'Domains (Assets)' account?
