The value stream management company Allstacks has announced the general release of its Software Capitalization feature. This new capability allows teams to track software development expenses related to R&D that could be subject to capitalization or tax credits.
According to Allstacks, R&D cost capitalization is something that is mandated by accounting standards in the US GAAP (Generally Accepted Accounting Principles).
Allstacks explained that the process of tracking R&D software development costs can be manual and tedious, and it hopes this new offering will help streamline the process.
The Software Capitalization software also enables splitting up credit among multiple engineers when more than one person is working on a particular project.
“Teams can easily produce records of capitalizable software work, automating a traditionally time-consuming and manual process, and improving the accuracy of the data collected,” said Hersh Tapadia, co-founder and CEO of Allstacks. “Allstacks customers can now seamlessly account for their engineering investment, understand the cost of capitalizable efforts, and generate defensible reports in audit-ready format that adhere to all applicable compliance standards.”