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Accounting for IT

By eldon ·
I've searched and searched and not found anything in your archives... so here goes...

As a new IT Manager, I am working with the Finance Director to re-arrange our accounting systems to better track IT expenditures. This company has had very little focus on that area.

Does anyone have suggestions on how one arrange GL codes/categories to account for IT expenditures. And how does one account for Software, Hardware, Capitalized or not, Software maintenance and consulting fees, etc, etc, etc.

Any insight would be helpful to ME and probably to many others as well...

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Your company

by madroxxx In reply to Accounting for IT

Alot of how you do this is going to depend on your company's organization. For instance I work for a large design builder and we code everything we can to individual jobs. Your company may or may not have project specific purchases. You could also break this up departmently.
Do you have a budget or is everything purchased PRN(as needed). If there is a budgeting concern code it to the department/projects budget as much as you can.

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