Hi,
This is my first time making a post on this forum, but I was wondering if anyone has had any experience in entering software that was developed in-house by the IT department? I have done some research and found that I can enter it as.
DR - Software
CR - Equity.
But I cannot see the logic in this as the owner has not paid for this project but rather the business, and I cannot credit bank because we didn't outright pay for the software.
Thanks
Frederick