Expense Category
Software

What expense category does Figma fall under?

Answer

Figma falls under the 'Software' expense category, specifically in the 'Design and Prototyping Software' subcategory.

Role of the Expense in Business

Figma is a web-based design tool used for UI/UX design, graphic design, and prototyping, essential for designers and teams in creating and collaborating on design projects.

Practical Example

A design agency using Figma for UI/UX design projects and collaborative prototyping would categorize these expenses under 'Design and Prototyping Software'.

Specialized Expense

In scenarios where Figma is used for occasional design tasks or small projects, it might be categorized under 'General Design Tools'.

Conclusion

Figma's role in the design and prototyping process categorizes it within the 'Software' expense category, specifically for design and prototyping.

The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.
Figma
“Accurate classification of expenses is vital for businesses as it forms the backbone of financial reporting, tax compliance, and strategic decision-making. It enables businesses to track and analyze their spending patterns, identify cost-saving opportunities, and assess the profitability of various operations or projects. Having a single source to turn to for accounting classification suggestions, such as the Ramp Expense Classifier tool, is immensely helpful as it provides consistency, reduces ambiguity, and streamlines the expense classification process.”
Audrey Carroll
Senior Manager, Accounting, Ramp
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