Expense Category
Professional Services

What expense category is point of sale systems?

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There is no definitive answer to this question as the correct expense category for point of sale systems will vary depending on the business and the system itself. However, some common expense categories for point of sale systems include:

Hardware

If the point of sale system includes physical hardware, such as terminals, printers, and scanners, then the associated costs will typically be classified as equipment expenses. These costs are usually capitalized on the balance sheet and depreciated over time.

Software

If the point of sale system includes software, such as a POS software application or an inventory management system, then the associated costs will typically be classified as software expenses. These costs are usually capitalized on the balance sheet and amortized over time.

Installation and Setup

If the point of sale system requires professional installation and setup, then the associated costs will typically be classified as professional services expenses. These costs are usually expensed on the income statement in the period in which they are incurred.

Ongoing Maintenance and Support

If the point of sale system requires ongoing maintenance and support, then the associated costs will typically be classified as professional services expenses. These costs are usually expensed on the income statement in the period in which they are incurred.

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As we scale we need tools that are built to scale with us - we need to see expenses real time, we need to see duplicate spend. These types of insights are important to the health of our business.
Steve Padis, SVP Finance & Strategy, Barry's
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.

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