As a video producer I sometimes have to purchase music tracks for use in my productions. It might sound strange but in all honesty I can say that these are exclusively for business use, as it’s not the type of music I would transfer to my tablet and stream around the house
Music I use is of 2 varieties - 1) mainstream music that I buy off Amazon/iTunes 2) production music from specialist sites for use in productions. The latter can be quite expensive.
In my view the 2nd type could probably go under the area of licences or something similar.
Thanks in advance.
Generally, ‘General Purchases’ is surfice for anything purchased to be resold, either individually or as a package. But if you wanted to create your own code for music, I think that would be suitable too.
Note: I’m not an accountant, so it may be worth waiting to see if any accountants do reply here, or check with your own.
I hope that helps
I am not an accountant either but my own reaction is to create your own code. Personally I like to see a finer level of detail that required by basic accounting practice.
I would say both types of music would be allowable for tax and business purposes. In terms of where you put it I would direct costs although you could separate it out into a music category as well if you prefer.