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We are a small business in Texas. We sell a software tool…

Customer Question
We are a small...

We are a small business in Texas. We sell a software tool through an App Exchange (think about it like app store for iPhone). We pay a hefty yearly fee to stay listed. How would I classify this?

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

Mainly just trying to understand how to classify in Quickbooks to then pass on to an accountant. I have zero understanding of how a fee like that would work. i.e. is it part of Cost of Goods sold or is a "marketing expense". Basically we pay a portion of our total revenue to the company

Submitted: 2 months ago.Category: Finance
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Answered in 8 minutes by:
12/21/2017
Financial Professional: Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional replied 2 months ago
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Finance
Satisfied Customers: 1,405
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Welcome to JustAnswer!

My name is***** will assist you today.

The fee to be listed would be considered an advertising and marketing expense.

___

The marketing expense in quick books will carry over to be deductible as a business expense. Cost of good sold includes inventory, purchases and cost of labor.

If you have any additional questions please let me know. I am also a quick books pro advisor.

At the conclusion of our conversation please take a moment to rate and accept my answer by clicking on three stars or more.

A positive rating of 5 stars or more is always appreciated.

Thank you!

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