How to record expenses also under long term assets?
ShazFar
Member Posts: 2
So I was trying to record my product r&d both under expenses and long term assets. I then found out Wave doesn't allow multiple categories, so now I just recorded under expenses but how can I also add under long term assets?
Any help would be greatly appreciated 
0
Comments
A cost cannot be both an expense and an capitalized asset.
Typically, most R&D costs are expensed in the same period occured. However, in the case that a portion can be capitalized, that would be posted as a long term asset and amortized over time to capture the expense. I would recommend discussing with a professional accountant or bookkeeper in your area as this is a more complex question.