Design and Development

How to Maximize Tax Benefits When Building Custom Software for Your Business

September 27, 2023

8 min read

How to Maximize Tax Benefits When Building Custom Software for Your Business

Unlocking Tax Benefits through Custom Software Development In the competitive landscape of modern business, companies increasingly turn to custom software solutions to gain an edge. These tailored applications streamline operations, enhance efficiency, and ultimately confer a competitive advantage. However, beyond these immediate benefits, there lies an often-overlooked advantage: tax benefits. In this comprehensive guide, we […]

Unlocking Tax Benefits through Custom Software Development

In the competitive landscape of modern business, companies increasingly turn to custom software solutions to gain an edge. These tailored applications streamline operations, enhance efficiency, and ultimately confer a competitive advantage. However, beyond these immediate benefits, there lies an often-overlooked advantage: tax benefits.

In this comprehensive guide, we will delve into the intricate world of custom software development and its implications for your company’s tax strategy. By exploring the nuances of capitalization and expensing, we aim to provide you with a profound understanding of how to maximize your tax benefits while leveraging custom software.

I. The Tax Benefits of Custom Software

When embarking on the journey of custom software development, businesses often focus on the immediate advantages, such as enhanced efficiency and competitiveness. However, the tax benefits that can be derived from this endeavor are equally significant but frequently underestimated.

II. Capitalizing vs. Expensing Software Development Costs

One of the pivotal decisions when it comes to custom software development is the classification of development costs as either current expenses or capitalized assets. Understanding the implications of each choice is essential for optimizing your tax strategy.

III. Outcomes of Capitalization and Expensing Compared

The decision to capitalize or expense software development costs is contingent on various factors unique to your business. Here, we explore the diverse considerations that may influence your choice, from reducing taxable income to satisfying private equity or venture capital requirements.

IV. Navigating GAAP Principles

To make informed decisions regarding software development costs, it is essential to refer to Generally Accepted Accounting Principles (GAAP). We will elucidate the fundamental principles of GAAP and how they relate to software development expenses, providing you with a solid foundation for your financial decisions.

V. An Example of Capitalizing and Expensing Software Costs

Concrete examples often illuminate complex concepts. We present a hypothetical scenario involving a construction company to demonstrate how the classification of software development costs can impact financial statements. By applying GAAP rules, we shed light on the process of capitalization and its tax implications.

I. The Tax Benefits of Custom Software

Custom software development goes beyond meeting the unique needs of your business. It also opens doors to significant tax advantages that can enhance your financial well-being. While the primary goal may be to improve operations, understanding the tax implications can lead to more informed decisions.

II. Capitalizing vs. Expensing Software Development Costs

A critical aspect of custom software development is the categorization of development costs. These costs can either be treated as immediate expenses or capitalized as assets. The choice between these two options can significantly impact your company’s financial health and tax obligations.

III. Determining Capitalization or Expense

The decision to capitalize or expense software development costs is not one-size-fits-all. Depending on your specific circumstances, goals, and financial position, you may lean toward one option over the other. We explore the diverse factors that can influence your choice, providing insights into when each approach is most advantageous.

IV. Navigating GAAP Principles

Generally Accepted Accounting Principles (GAAP) serve as a guiding framework for financial reporting. Understanding how GAAP principles relate to software development expenses is crucial for making informed decisions. We will delve into the core principles and their relevance to your custom software project.

V. An Illustrative Case: Capitalization and Expense

To bring clarity to the complex world of software development costs, we present a practical example. In this scenario, a construction company invests in software development and must decide how to classify its expenses. We will use this case to demonstrate the application of GAAP rules and its impact on financial statements.

I. The Tax Benefits of Custom Software

When companies embark on custom software development projects, their primary objectives typically revolve around operational improvements and gaining a competitive edge. However, it’s essential to recognize that custom software development also offers significant tax benefits that can positively impact your bottom line.

II. Capitalizing vs. Expensing Software Development Costs

The decision to capitalize or expense software development costs is a crucial one, with far-reaching implications for your company’s financial health and tax liability. Understanding the nuances of this choice is imperative for making informed decisions during custom software development.

III. Factors Influencing Capitalization or Expense

The choice between capitalization and expensing of software development costs is not a straightforward decision. Various factors, such as your company’s financial goals, ownership structure, and cash flow management, play a pivotal role in determining the optimal approach. We delve into these influencing factors to help you make the right choice.

IV. Grasping GAAP Principles

Generally Accepted Accounting Principles (GAAP) are the foundation of financial reporting and provide essential guidelines for decision-making in custom software development. We explore the key principles of GAAP and their relevance in classifying software development expenses.

V. A Real-Life Example: Capitalization vs. Expense

To illustrate the impact of classifying software development costs, we present a real-life case study involving a construction company. This case study demonstrates how GAAP rules are applied to determine which expenses should be capitalized and which should be expensed, offering practical insights for your custom software project.

I. Unveiling the Tax Benefits of Custom Software

Beyond the immediate advantages of custom software development lies a realm of tax benefits that can substantially enhance your business’s financial prospects. In this section, we explore how custom software can become a valuable asset in your tax strategy.

II. Capitalization vs. Expense: Decoding Development Costs

The decision to classify software development costs as expenses or assets is pivotal in shaping your financial outcomes and tax liabilities. We delve deep into the intricacies of this choice, providing you with the knowledge needed to make informed decisions.

III. Tailoring Your Approach: Factors in Capitalization or Expense

Custom software development is not a one-size-fits-all endeavor, and the choice between capitalization and expensing is influenced by various factors. We examine these factors, from tax reduction goals to financial structures, helping you align your approach with your business objectives.

IV. Navigating the Landscape of GAAP Principles

Understanding Generally Accepted Accounting Principles (GAAP) is essential for making sound financial decisions in software development. We unravel the core principles and explore how they impact your decisions regarding software development expenses.

V. Bringing Theory to Life: A Case Study in Capitalization and Expense

In this practical case study, we follow a construction company’s journey into custom software development. By applying GAAP principles, we showcase the tangible effects of classifying expenses, offering real-world insights for your custom software project.

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Design and Development

Accounting for Computer Software Costs

September 27, 2023

8 min read

Navigating Software Acquisition Costs: A Comprehensive Guide The Fundamentals of Software Cost Accounting Software Licensing Models: Perpetual vs. Subscription Determining When to Expense Software Costs FASB Guidance on Software Accounting Managing Costs at Different Software Development Stages In today’s digital world, software serves as the driving force behind businesses, facilitating transactions, communication, and product development. […]

Navigating Software Acquisition Costs: A Comprehensive Guide

The Fundamentals of Software Cost Accounting

Software Licensing Models: Perpetual vs. Subscription

Determining When to Expense Software Costs

FASB Guidance on Software Accounting

Managing Costs at Different Software Development Stages

In today’s digital world, software serves as the driving force behind businesses, facilitating transactions, communication, and product development. It’s undeniable that without software, we would find ourselves lost. However, accounting for the costs associated with software acquisition can be a complex endeavor. In this comprehensive guide, we will delve into the various aspects businesses need to consider when acquiring and implementing new software, shedding light on the intricacies of software cost accounting.

The Fundamentals of Software Cost Accounting

Let’s begin by establishing a solid foundation in software cost accounting. According to the Financial Accounting Standards Board (FASB), an asset is something that provides future economic benefits to an entity, acquired or controlled through past transactions or events. Conversely, expenses represent the outflows or depletion of assets resulting from the delivery of goods, provision of services, or other operational activities, primarily benefiting the current period.

Assets are generally expected to benefit future periods, while expenses are associated with the present. When deciding whether to capitalize a cost, businesses should consider whether it will provide benefits for more than one year and establish a clear policy for capitalization, often involving a minimum acquisition cost. Furthermore, costs associated with asset deployment, such as transportation and taxes, may also be capitalized.

Once a cost is deemed capitalizable, management must determine the depreciation or amortization method. Depreciation pertains to tangible assets like property and equipment, while amortization applies to intangible assets such as customer lists or goodwill.

In this section, we’ll explore the critical concepts related to accounting for software costs, including software licenses, service contracts, and the criteria for capitalization.

Software Licensing Models: Perpetual vs. Subscription

In the world of software acquisition, two prominent licensing models prevail: perpetual and subscription. The perpetual license allows users to access software indefinitely after a one-time payment. This traditional model involves capitalizing the acquisition cost and amortizing it over the software’s estimated useful life for financial statement and tax purposes.

On the other hand, subscription-based software, often known as “Software as a Service (SaaS)” or “cloud computing,” offers users the flexibility to pay for access over a defined period, usually a year. This model generally involves expensing the costs associated with the subscription in the period of signing the contract. Additionally, service contracts may include ancillary services like upgrades and software support.

In this section, we’ll delve into the benefits of each licensing model, helping businesses make informed decisions based on their unique needs and financial considerations.

Determining When to Expense Software Costs

The decision of whether to capitalize or expense software costs hinges on the distinction between software licenses and service contracts. A contract explicitly designating the payment for a software license can be capitalized, while other arrangements are generally considered service contracts and require immediate expense recognition.

However, many software acquisitions come with ancillary costs, such as employee training and data migration. FASB has issued guidance, including FASB ASU 2015-05 and ASU 2018-15, to address these complexities. This section will offer insights into when to expense these additional costs and how they impact the overall accounting treatment.

FASB Guidance on Software Accounting

To ensure clarity and consistency in software cost accounting, the Financial Accounting Standards Board (FASB) has issued two key guidelines: FASB ASU 2015-05 and ASU 2018-15. These guidelines provide specific directives for the treatment of software costs, particularly in cloud computing arrangements and internal-use software.

This section will provide an overview of these FASB guidelines, explaining their applicability and impact on software cost accounting practices for non-public entities.

Managing Costs at Different Software Development Stages

As software projects progress through various stages of development, cost accounting practices must adapt accordingly. This section will explore the different stages, including the preliminary project stage and the application development stage, and outline how costs should be handled in each.

Specific examples of capitalizable costs during the application development stage will be discussed, along with the distinction between general administrative overhead costs and those directly associated with software development.

In conclusion, this comprehensive guide serves as a roadmap for businesses navigating the intricate landscape of software cost accounting. By understanding the fundamentals, licensing models, expense determination criteria, FASB guidelines, and development stage considerations, organizations can make informed decisions and maintain financial transparency in an increasingly software-driven world.

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Design and Development

How Do You Book a Capitalized Software Journal Entry?

September 27, 2023

8 min read

How Do You Book a Capitalized Software Journal Entry?

Exploring Software Capitalization in Accounting In the dynamic world of business, sometimes, off-the-shelf software just doesn’t cut it. When your company’s unique needs demand tailored solutions, you might find yourself in a situation where custom software development becomes necessary. However, it’s crucial to understand how to manage the financial aspects of this process. In this […]

Exploring Software Capitalization in Accounting

In the dynamic world of business, sometimes, off-the-shelf software just doesn’t cut it. When your company’s unique needs demand tailored solutions, you might find yourself in a situation where custom software development becomes necessary. However, it’s crucial to understand how to manage the financial aspects of this process. In this comprehensive guide, we’ll delve into the intricacies of software capitalization, covering everything from what costs should be capitalized to the journal entries required for proper accounting treatment.

1. Software Capitalization: What Qualifies?

Before we dive into the specifics of journal entries, let’s establish a foundation by discussing the criteria that determine whether software costs should be capitalized or expensed. Accounting standards distinguish between software developed for internal use and software intended for external users.

1.1 Internal Use Software

For software developed or acquired for internal use, the key considerations revolve around the project’s stage:

a. Project Stage: This initial stage involves researching various alternatives, evaluating vendor proposals, and selecting the most suitable option. All costs incurred during this phase are expensed.

b. Application Development Stage: At this stage, coding and testing are performed, and costs related to the asset include programmer compensation, payments to contractors, travel expenses, interest incurred for development financing, testing, overhead costs, server installation, and software purchases. These costs are capitalized.

c. Implementation Stage: After the software is live and in use, any costs associated with training and maintenance are expensed.

Subsequently, the capitalized software development costs are amortized over the estimated useful life of the software, typically two to five years, using the straight-line method. Both depreciation and amortization spread the cost of assets over their benefit-providing years.

2. Dealing with Abandoned Software

In today’s fast-paced business landscape, software projects can be abandoned prematurely. In such cases, any unamortized balance is expensed, and both the capitalized asset and the associated accumulated amortization are removed from the balance sheet. However, it’s essential to be aware that significant upgrades or enhancements may trigger a restart of the application development stage, leading to the capitalization of new costs.

3. Tax Considerations

It’s worth noting that tax rules for software development may differ from accounting standards. Nevertheless, segregating software development costs in your general ledger can be beneficial, especially given potential tax credits for software R&D.

4. External Use Software

Accounting standards also distinguish between software developed for internal and external use. When it comes to software intended for external users, similar principles apply, with costs divided into three phases:

4.1 Pre-Technological Feasibility

This phase encompasses research and development, and under U.S. GAAP, research and development costs are expensed as they are incurred, unlike IFRS, which allows capitalization.

4.2 Technological Feasibility

Here, research and development are substantially completed, but the software is not yet ready for sale. From this point until the software is available for general release, all costs are capitalized, although this can be a gray area that some companies choose to bypass.

4.3 Available for Sale

Once the software is ready for sale, all costs, including maintenance, training, minor upgrades, and customer support, are expensed. Amortization of any capitalized costs begins at this point.

5. Capitalization Journal Entries

Now that we’ve covered the principles, let’s delve into the nitty-gritty of capitalization journal entries, assuming that labor costs are the primary expenses to be capitalized.

5.1 Data Gathering

Gathering the necessary data for the journal entries is crucial. For costs from contractors, simply request invoices, distinguishing development work from bug fixes and maintenance. For employee-generated data, consider tracking hours worked on software development or requesting estimates from engineering management. Some companies leverage data engineers already use, like “story points” in Agile development, and apply weighted salary rates to the development time.

5.2 Journal Entry Details

Journal: Capitalized Software

Frequency: Each reporting period (e.g., monthly)

FloQast Folder Location: ‘Fixed Assets’

Journal Entry 1 (To capitalize software internally developed during June 2020):

Date	Account Name	Debit ($)	Credit ($)
6/30/20	Internally developed software asset – Project XYZ	$42,375
	Internally developed software asset – Project ABC	$15,000
	Payroll accrual/clearing		$57,375
Memo:	To capitalize software internally developed during June 2020

Journal Entry 2 (To record June 2020 amortization of internally developed software asset):

Date	Account Name	Debit ($)	Credit ($)
6/30/20	Amortization expense	$1,584.00
	Accumulated amortization, internally developed software		$1,584.00
Memo:	To record June 2020 amortization of internally developed software asset

6. Additional Considerations

As you navigate the complexities of software capitalization, keep these points in mind:

Capitalizing software can be time-consuming but offers stability to your company’s net income by spreading salary expenses over time.
Depending on your company’s tax status, there may be IRS R&D credits and payroll tax credits to benefit from.
Maintain meticulous documentation to satisfy auditors and tax authorities, ensuring that your capitalization entries have ample supporting evidence.

7. Reconciliation

To effectively manage your capitalized software, consider implementing these reconciliation practices:

Maintain a running list of additions and disposals by project.
Calculate your net asset balance by rolling forward the additions, subtracting amortization, and accounting for decommissioned software.
Avoid common pitfalls, such as failing to credit a contra expense account or not capitalizing assets by the specific project.

In conclusion, understanding software capitalization is vital for responsible financial management. By adhering to accounting standards and best practices, you can navigate the complexities of software development costs, potentially benefiting from tax credits and ensuring your financial statements accurately reflect the value of your software assets.

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Design and Development

What is Software Capitalization?

September 27, 2023

8 min read

Unlocking Business Value: The Significance of Software Capitalization The Essentials of Software Capitalization Software Capitalization: Understanding the Basics Maximizing Business Potential The Benefits of Software Capitalization Overcoming Hurdles Challenges in Capitalizing R&D Costs A Roadmap to Effective Capitalization Strategies for Successful Software Capitalization The Solution at Hand Leveraging Engineering Management Platforms for Software Capitalization The […]

Unlocking Business Value: The Significance of Software Capitalization

The Essentials of Software Capitalization Software Capitalization: Understanding the Basics

Maximizing Business Potential The Benefits of Software Capitalization

Overcoming Hurdles Challenges in Capitalizing R&D Costs

A Roadmap to Effective Capitalization Strategies for Successful Software Capitalization

The Solution at Hand Leveraging Engineering Management Platforms for Software Capitalization

The Essentials of Software Capitalization

As a technical leader, your primary focus may not have initially included collaborating with finance teams on software capitalization strategies. However, this practice plays a pivotal role in the success of your company by increasing valuations and attracting investment. In this section, we’ll delve into the fundamentals of software capitalization and why it’s crucial.

What is Software Capitalization?

Software capitalization is an accounting practice that transforms software research and development (R&D) costs from immediate expenses into long-term investments. Instead of recognizing these costs as losses on a profit and loss (P&L) sheet, they are treated as assets on a balance sheet, amortized over time.

The rationale behind this approach is that R&D expenses do not necessarily align with the periods when revenues are generated. Thus, matching these costs with future revenues becomes essential. For example, if your company invested $1 million in 2020 to develop groundbreaking software, the logical choice might be to offset this expense against revenues realized in 2021 and beyond, when the software becomes market-ready.

Maximizing Business Potential

The Benefits of Software Capitalization

The true value of software capitalization becomes apparent when considering its impact on business valuation. In the tech industry, investors often assess a company’s worth based on its revenues or profits, with Ebitda (earnings before interest, tax, depreciation, and amortization) being a common profitability indicator. By capitalizing R&D costs and spreading them over time, these expenses are excluded from the Ebitda calculation. This adjustment increases profits, ultimately enhancing the company’s value. For startups heavily invested in R&D, this can be a game-changer, attracting more capital for growth or benefiting shareholders in potential acquisitions.

Is It Legitimate?

R&D capitalization isn’t a dubious practice but rather a well-established one. It adheres to Generally Accepted Accounting Principles (GAAP) in the United States and the International Financial Reporting Standards (IFRS), which may even mandate its application in specific cases. Surprisingly, approximately 57% of public U.S. software companies capitalize a portion of their R&D expenditures. However, some notable companies like Salesforce, Amazon, Workday, and Atlassian capitalize less than 1% of their R&D expenses. The question arises: why don’t more companies capitalize on this opportunity?

Overcoming Hurdles

Challenges in Capitalizing R&D Costs

While capitalizing R&D costs seems like a prudent decision, the challenges lie in determining which projects will yield future revenues and quantifying those revenues accurately. Furthermore, when your software team works on multiple projects concurrently, accurately measuring the development costs for each project becomes a daunting task.

Addressing Uncertainty

To tackle the first challenge, developing or adopting an appropriate framework for valuing and capitalizing intangible assets similar to yours may require time and research. Different industries employ distinct methods, often necessitating consultation with industry experts.

Managing Multifaceted Development

Handling concurrent projects necessitates a rigorous approach. Traditional methods, such as manual spreadsheet tracking or requiring engineers to log their time, can be cumbersome and unreliable. Alternatively, an Engineering Management Platform (EMP), like Jellyfish, offers a streamlined solution by automatically measuring engineers’ time spent on specific tasks and projects, providing an auditable record of engineering efforts for capitalizable projects.

A Roadmap to Effective Capitalization

Strategies for Successful Software Capitalization

Software capitalization, though challenging, can significantly benefit tech companies with substantial R&D investments and future revenue potential. To gain deeper insights into software capitalization and discover how Jellyfish can assist in this process, explore our website and request a demo today.

In this comprehensive article, we’ve explored the essentials of software capitalization, the substantial benefits it offers, the challenges involved, effective strategies for capitalization, and the role of Engineering Management Platforms in simplifying the process. By understanding and implementing software capitalization strategies, technical leaders can contribute significantly to their company’s growth and financial success.

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Design and Development

The 3 Stages of Capitalizing Internally Developed Software

September 27, 2023

8 min read

The 3 Stages of Capitalizing Internally Developed Software

Introduction to Capitalization of Internal-Use Software Costs Capitalizing Internal-Use Software Costs under GAAP (Codification Topic 350-40) Capitalization of costs related to internal-use software is a practice often misunderstood by companies when adhering to Generally Accepted Accounting Principles (GAAP). Internal-use software typically encompasses systems meant for back-office operations, like general ledger or billing modules, and platforms […]

Introduction to Capitalization of Internal-Use Software Costs

Capitalizing Internal-Use Software Costs under GAAP (Codification Topic 350-40)

Capitalization of costs related to internal-use software is a practice often misunderstood by companies when adhering to Generally Accepted Accounting Principles (GAAP). Internal-use software typically encompasses systems meant for back-office operations, like general ledger or billing modules, and platforms that deliver software as a service to customers. It’s important to note that this accounting treatment does not apply to software intended for sale or distribution to external customers. This article will delve into the intricacies of capitalizing internal-use software costs, breaking down the process into three distinct stages, and explaining when capitalization is required.

Preliminary Project Stage

Understanding the Preliminary Project Stage

The initial phase of internal-use software development is the Preliminary Project Stage. During this stage, certain costs are immediately expensed as they are incurred. These costs encompass activities like exploratory research, defining the desired functionality of the software, and assessing the feasibility of existing technology to meet performance objectives, among other tasks.

Application Development Stage

Navigating the Application Development Stage

The Application Development Stage is where companies must capitalize both internal and external costs incurred. This phase involves critical activities such as designing the development path, coding, hardware installation, and rigorous testing. Several types of costs are eligible for capitalization during this stage, including:

External costs related to materials and services obtained for developing or acquiring internal-use computer software, such as fees paid to third-party developers.
Payroll and payroll-related expenses for employees directly involved in the internal-use computer software project. These expenses are restricted to the actual time spent on software development tasks, such as coding and testing.

Note: Training costs incurred during this stage should be treated as expenses and not capitalized.

To initiate capitalization during this stage, management must first authorize and commit to funding the project. Additionally, the company should have completed the preliminary project stage, and project completion should be reasonably expected.

Post-Implementation/Operation Stage

Understanding the Post-Implementation/Operation Stage

The Post-Implementation/Operation Stage is the final phase in the development of internal-use software. During this stage, costs should be expensed as they are incurred. This stage occurs when the software has been deployed and is actively used for its intended purpose. Costs that should be treated as expenses during this stage may include training and maintenance expenses.

Conclusion and Best Practices

Best Practices for Capitalizing Internal-Use Software Costs

To summarize, the correct capitalization of internal-use software costs is essential for accurate financial reporting. It involves three distinct stages: Preliminary Project Stage, Application Development Stage, and Post-Implementation/Operation Stage. Here are some best practices to ensure compliance with GAAP and make informed financial decisions:

Thorough Documentation: Maintain meticulous records of all costs incurred during each stage of software development. This documentation will be crucial for audits and financial reporting.
Clear Cost Allocation: Distinguish between costs that should be capitalized and those that should be expensed. External costs for materials and services, as well as payroll expenses directly associated with development tasks, should be capitalized during the Application Development Stage.
Timely Expense Recognition: Ensure that costs are recognized as expenses during the Post-Implementation/Operation Stage, especially for ongoing expenses like training and maintenance.
Management Authorization: Before capitalization begins in the Application Development Stage, obtain clear authorization and commitment from management. This ensures that the project is aligned with the company’s strategic goals.
Project Milestones: Monitor project progress and assess whether project completion is reasonably expected. This is a key factor in determining when to begin capitalization.

Adhering to these best practices will not only help companies comply with accounting standards but also provide a clear picture of the true cost of internal-use software development, aiding in effective financial planning and decision-making.

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Design and Development

Best Web App Development Ideas to Consider for Building a Profitable Business in 2023

September 27, 2023

8 min read

Best Web App Development Ideas to Consider for Building a Profitable Business in 2023

Unlocking Profit Potential: Exploring Trending Web App Development Ideas in 2023 Introduction The world of web applications is on the brink of a significant transformation, especially with the rise of Progressive Web Applications (PWAs). These dynamic digital tools are poised to experience remarkable growth, projected at a Compound Annual Growth Rate (CAGR) of 31.9%, catapulting […]

Unlocking Profit Potential: Exploring Trending Web App Development Ideas in 2023

Introduction

The world of web applications is on the brink of a significant transformation, especially with the rise of Progressive Web Applications (PWAs). These dynamic digital tools are poised to experience remarkable growth, projected at a Compound Annual Growth Rate (CAGR) of 31.9%, catapulting to a staggering $10.44 billion USD by the year 2027. Amid this surge, it’s crucial to realize that not all web apps achieve success in an increasingly crowded market. In this comprehensive guide, we will delve into the realm of web app development, examining five captivating web app ideas that can distinguish your business and help you thrive in 2023 and beyond.

On-Demand Services: Revolutionizing Convenience

The Rise of On-Demand Services

In today’s fast-paced world, accessing essential services promptly is a growing challenge. The demand for on-demand services, spanning electricity, plumbing, grocery shopping, and more, is burgeoning. Discover how developing an on-demand service web application can be your ticket to profitability. We’ll explore the mechanics of these platforms, the technology stack required, and expert guidance to navigate this competitive landscape.

Chatbot Web Applications: Elevating Customer Interaction

Embracing Chatbot Revolution

Automation is reshaping customer support and services through chatbot web applications. These AI-powered digital companions facilitate natural conversations with users, enhancing engagement and satisfaction. We’ll delve into the significance of integrating chatbots into your web app, their role in customer support, lead generation, and customer engagement. Unlock the potential of 24/7 customer service with chatbot solutions.

The CEO Dashboard Web App: Data-Driven Insights

Mastering Data with CEO Dashboards

In the digital age, data is abundant, but extracting valuable insights can be challenging. CEO dashboard web applications offer a comprehensive overview of a company’s performance, empowering executives with data-driven decision-making. We’ll explore how these apps simplify data analysis, benefit B2B SaaS providers, and enable innovative strategies for product metrics and marketing.

SaaS-Based Property Listing & Inventory Management: Empowering Real Estate

Real Estate Tech: SaaS Solutions

The real estate industry is undergoing a digital transformation, and small businesses need to keep pace. SaaS-based property listing and inventory management web applications offer customizable solutions for real estate agents. Discover how these apps streamline property management, lead generation, and customer communication, helping small businesses thrive in a competitive market.

Employee Orientation Web App: Onboarding Simplified

Effortless Onboarding with Employee Orientation

Employee onboarding is a critical aspect of every business. An employee orientation web application eases the process, ensuring new hires are well-prepared to contribute from day one. We’ll explore the benefits of interactive training modules, quizzes, and games in teaching company policies, procedures, and processes. See how this app can relieve HR managers and enhance the induction process.

Customized Payment Gateway: Tailored Transactions

Empower Your Business with Custom Payment Gateways

Customized payment gateways are the key to secure and tailored online transactions. Explore how businesses can adapt payment gateways to their unique needs, including recurring billing, fraud detection, and multi-currency support. We’ll delve into the significance of customization, various payment options, and the potential for increased conversions and profitability.

Conclusion

In a rapidly evolving digital landscape, these web app development ideas for 2023 offer a gateway to profitability. While numerous opportunities abound, these trends are poised to make a significant impact, helping your business stand out in a crowded market. If you’re considering adopting any of these ideas, Ashutec Solutions Pvt. Ltd. stands ready to assist with their impeccable software and product development services, ranging from web and mobile app development to UI/UX design. Don’t miss the chance to make your mark in the digital sphere with these innovative web app concepts.

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Design and Development

Choosing Between Web Designer and Web Developer in 3 Steps

September 26, 2023

8 min read

Choosing Between Web Designer and Web Developer in 3 Steps

Web Designer vs. Web Developer: Deciphering the Tech Career Choice Introduction Aspiring tech enthusiasts often find themselves at a crossroads when contemplating their career in the digital realm. The question of whether to become a web designer or a web developer looms large. This decision is pivotal as it determines the path you will tread […]

Web Designer vs. Web Developer: Deciphering the Tech Career Choice

Introduction

Aspiring tech enthusiasts often find themselves at a crossroads when contemplating their career in the digital realm. The question of whether to become a web designer or a web developer looms large. This decision is pivotal as it determines the path you will tread in the vast landscape of technology. In this comprehensive exploration, we will delve into the distinctions between these two roles, allowing you to make an informed choice that aligns with your interests and aspirations.

Section 1: Understanding the Roles

Unraveling the Web Designer’s Realm

The notion of becoming a web designer often conjures images of creating visually stunning digital landscapes. Web designers are the architects of aesthetics, harnessing their creativity to craft captivating web experiences. Through the manipulation of typography, color schemes, wireframes, and design software such as Adobe Photoshop and Adobe Illustrator, web designers breathe life into websites. But is this the right path for you?

The Intricacies of Web Development

On the flip side, web development is an equally enticing career option. It appears to be the “smarter” choice due to the allure of high salaries commanded by web developers. These tech wizards harness various programming languages to construct dynamic websites and web applications. The demand for software developers is unceasing, but does this make it the right fit for you? We’ll explore the nuances further.

Section 2: Demystifying Web Design vs. Web Development

Debunking Misconceptions

Before making a decision, it’s essential to shatter the myths surrounding web design and web development. These misconceptions often cloud judgment and hinder informed career choices. Let’s address a few common fallacies:

Myth 1: Design is Easier than Development

Some believe that mastering web development, with its intricate programming languages, is more challenging than acquiring design skills. Conversely, others perceive design as demanding innate creativity beyond learning design software. The truth is that both paths present unique challenges, and your individual strengths will dictate your journey.

Myth 2: Developers Always Make More Money

It’s a prevailing notion that web developers enjoy significantly higher salaries than web designers. On average, this may hold true. However, the web design landscape offers competitive niches, such as interactive and user experience design, with salaries that rival those of developers. As a beginner, immediate earnings should not be your primary concern.

Myth 3: Designers Don’t Need Coding Skills

While web designers don’t need to be coding experts, understanding the basics of HTML and CSS is advantageous. Proficiency in these languages enables designers to collaborate seamlessly with developers, ensuring the realization of their design vision. Moreover, designers with coding skills are in high demand, offering a broader spectrum of career opportunities.

Section 3: The Coding Connection

Bridging the Gap: Coding for Designers

In today’s digital landscape, the ability to code is a valuable asset for web designers. Basic knowledge of HTML and CSS empowers designers to communicate effectively with developers. To take it a step further, mastering HTML, CSS, JavaScript, and CSS preprocessors like Sass or LESS can catapult a designer’s career to new heights. This section explores the advantages of becoming a coding-savvy web designer.

Section 4: The Quest for the Whole Package

Becoming a Design-Development Fusion

In an increasingly competitive tech world, versatility is key. Transitioning into tech or aiming to become a full-time or freelance web designer with coding skills can be a game-changer. The ability to translate designs into functional prototypes and user interfaces elevates your worth in the industry. Discover how becoming the “whole package” of designer and programmer can open doors to exciting opportunities.

Section 5: Making Your Choice

The Decision-Making Process

Now that we’ve unraveled the distinctions, debunked myths, and explored the synergy between design and development, it’s time to make your choice. Whether you are drawn to the artistry of web design or the intricacies of web development, your decision should align with your passion and long-term career goals. Remember, the tech landscape offers a myriad of opportunities, and the path you choose should reflect your unique aspirations.

In Conclusion

The web design vs. web development dilemma is a common starting point for aspiring tech professionals. While the choice may seem daunting, it ultimately boils down to your interests, strengths, and career aspirations. Whether you opt for the visually creative world of web design or the code-centric realm of web development, your journey in the tech industry promises excitement and growth. Embrace your choice, embark on your path, and let your passion drive you to success in the digital age.

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Design and Development

15 Profitable Business Ideas for Web Developers

September 26, 2023

8 min read

15 Profitable Business Ideas for Web Developers

Transforming Web Development Skills into Profitable Ventures Are you a skilled web developer seeking to leverage your expertise into a thriving business? You’re in luck! In this comprehensive guide, we’ll explore ten lucrative business ideas tailored for web developers. We’ll also delve into the essential steps to initiate and flourish in your chosen venture. These […]

Transforming Web Development Skills into Profitable Ventures

Are you a skilled web developer seeking to leverage your expertise into a thriving business? You’re in luck! In this comprehensive guide, we’ll explore ten lucrative business ideas tailored for web developers. We’ll also delve into the essential steps to initiate and flourish in your chosen venture. These business concepts for web developers present an excellent opportunity to kickstart your entrepreneurial journey, given the abundance of work and the flexibility to set your rates. Whether you’re a novice or an industry veteran in search of fresh ideas, read on for valuable insights!

The Lucrative Landscape for Web Developers

The modern digital landscape has fostered a surging demand for web developers. As businesses strive to connect with new audiences and market their products and services online, web developers possess a highly coveted skill set that can fuel prosperous enterprises. In this section, we’ll delve into the promising prospects that await web developers seeking entrepreneurial success.

Diversify and Conquer: Exploring Profitable Web Development Niches

While the world of web development offers a multitude of avenues for business ventures, not all are equally profitable. To ensure the success of your enterprise, it’s crucial to identify a niche market and concentrate on delivering top-notch services that stand out in a competitive landscape. In this section, we’ll explore strategies to distinguish your business in the web development domain.

Unveiling Web Development Business Ideas

Establishing Your Web Presence through Blogging
- Crafting a brand and showcasing your expertise
- Creating a platform for collaboration with fellow developers
Embarking on Software Development Entrepreneurship
- Unleashing your potential by founding a software development company
- Navigating the requirements and investments for success
Navigating the World of WordPress: Developing Plugins
- Exploring the opportunities in WordPress plugin development
- Seizing the demand for innovative plugins in the market
Engaging Audiences through YouTube: The Developer’s Channel
- Creating educational content and monetizing through advertising
- Building a dedicated following of fellow developers and enthusiasts
Sharing Knowledge: Selling Web Development Courses
- Leveraging your expertise to create and market valuable courses
- Empowering others to acquire web development skills

Beyond Web Development: Expanding Horizons

Crafting Stunning Websites: Custom Web Design
- Capitalizing on your design skills to create captivating websites
- Enhancing your clients’ online presence and customer engagement
Designing Brand Identities: Logo Design Services
- Utilizing graphic design talents to craft professional logos
- Assisting businesses in establishing a unique brand identity
Guiding Businesses to Success: Business Consulting
- Merging web development skills with business acumen
- Providing consultancy services to aid businesses in growth
Paving the Path to Expansion: Business Development
- Leveraging web development prowess to aid business expansion
- Fostering growth in a company’s online presence and market reach
Visual Excellence: Graphic Design Services

Unleashing design expertise to create striking graphics
Catering to businesses’ needs for visual content across platforms

Mastering Additional Opportunities in the Digital Arena

Strategic Marketing Endeavors
- Applying web development skills to craft effective marketing strategies
- Assisting businesses in reaching new customers through digital channels
Web Hosting: A Gateway to Internet-Based Services
- Establishing a web hosting company for businesses in need
- Meeting the growing demand for internet-based service providers
Content Creation Expertise
- Leveraging writing skills to offer high-quality content creation services
- Fulfilling businesses’ content needs across various platforms
SEO Mastery: Enhancing Online Visibility
- Employing SEO expertise to boost businesses’ search engine rankings
- Assisting businesses in optimizing their web presence for search engines
User-Centric Solutions: Conducting User Research
- Offering user research services to help businesses understand their customers
- Facilitating the creation of products and services tailored to customer preferences
Educational Initiatives: Web Development Training and Workshops
- Establishing a business providing web development training and workshops
- Catering to the high demand for web development skills in the market

Building a Successful Web Development Business

If you’re a web developer with dreams of entrepreneurship, numerous avenues are available to transform your skills into a thriving venture. Whether you’re passionate about a specific industry or have a diverse skill set to offer, success can be yours with determination and dedication. In this section, we’ll provide valuable tips to help you initiate and nurture a prosperous web development business.

Thorough Market Research
- Identifying industries in need of web development services and their specific website requirements
Discovering Your Niche
- Concentrating on a specialized market segment to stand out and cater to unique needs
Prioritizing Quality
- Emphasizing the delivery of high-quality services to attract and retain clientele
Offering a Range of Services
- Expanding your service portfolio to cater to a broader client base
Staying Abreast of Industry Trends
- Continuously updating your skills and staying informed about the latest web development technologies
Networking with Peers
- Attending industry events and establishing connections with fellow professionals
Providing Free Consultations
- Easing potential clients’ concerns by offering complimentary consultations
Legal Considerations: The Path to an LLC
- Exploring the process of starting a web development business as an LLC for legal protection

With these insights and strategies in mind, you are well-equipped to embark on your journey to establish a thriving web development business. The digital world is ripe with opportunities, and by applying these principles, you can pave the way for your own entrepreneurial success. Don’t hesitate; it’s time to transform your web development skills into a profitable venture!

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Design and Development

To WWW or Not to WWW? How to Add WWW to Your URLs in WordPress

September 26, 2023

8 min read

To WWW or Not to WWW? How to Add WWW to Your URLs in WordPress

Enhancing Website URLs in WordPress: Adding the WWW Prefix Introduction In the ever-evolving landscape of web development, altering the URL structure of your WordPress site can become a necessity for various reasons. Be it a rebranding initiative, a security enhancement like transitioning from HTTP to HTTPS, or the desire to switch from a standard www […]

Enhancing Website URLs in WordPress: Adding the WWW Prefix

Introduction

In the ever-evolving landscape of web development, altering the URL structure of your WordPress site can become a necessity for various reasons. Be it a rebranding initiative, a security enhancement like transitioning from HTTP to HTTPS, or the desire to switch from a standard www URL to a naked (non-www) one, the need for URL modifications can arise. In this comprehensive guide, we will delve into the rationale behind adding the “www” prefix to your WordPress URLs and elucidate multiple methods to achieve this.

I. Reasons to Embrace WWW

At first glance, the contrast between two websites, one employing the “www” prefix and the other without it, may seem minimal. Both utilize secure HTTPS connections and possess succinct .com domain names. However, there exists a fundamental distinction that influences this choice.

Subheading: Efficient Cookie Handling

Large websites housing subdomains necessitate the use of “www” due to how web browsers manage cookies. With “www,” browsers store cookies for the entire website, including all subdomains, ensuring efficient functionality. In contrast, the absence of “www” results in browsers having to store distinct cookies for each subdomain request, a process that considerably hampers website loading times.

II. Adding WWW in WordPress

For those inclined to incorporate the “www” prefix into their WordPress websites, regardless of whether subdomains are involved, there are several approaches to accomplish this task. However, it is imperative to exercise caution during this process, as a misstep can lead to unintended consequences affecting your website’s frontend, backend access, and link functionality.

Subheading: 1. Utilizing the WordPress Admin

Navigate to the WordPress dashboard and access the General Settings. In this section, you will need to modify two specific fields. Make sure to follow the instructions meticulously to prevent any complications.

Subheading: 2. Implementing Changes via the wp-config.php File

For those who prefer a more hard-coded approach, the wp-config.php file offers a suitable option. This method involves editing the file with specific lines of code to effect the desired domain name change.

Subheading: 3. Database Search and Replace

Depending on your website’s plugins and theme, a comprehensive search and replace operation within the database may be necessary to ensure all references to the old non-www URL are updated to the new one. WP-CLI can simplify this process, and further details can be found in our dedicated documentation.

III. The Importance of Implementing a 301 Redirect

A common query that arises is whether it is advisable to maintain both a “www” and a non-www version of a website. This section elucidates the potential issues associated with such an approach and emphasizes the significance of implementing a 301 redirect.

Subheading: A Dual Existence: www vs. Non-www

Maintaining both a “www” and non-www version of a website concurrently can lead to complications. Google indexes website content and associates it with the full URL. Shifting from a non-www to a “www” domain down the line necessitates Google to re-index the website from scratch, resulting in a loss of established link authority.

Creating a “www” mirror of the non-www site poses SEO challenges, as Google bots may interpret it as an attempt to rank both versions simultaneously, leading to content competition and potential search penalties. The key recommendation here is to make a definitive choice between “www” and non-www and adhere to it.

Subheading: Setting Up a 301 Redirect

Once you’ve made your URL choice, it is crucial to establish a 301 redirect. This process redirects traffic from the non-www version to the “www” version, ensuring that all visitors searching for your brand land on the correct and updated URL.

IV. Final Considerations

In concluding this discourse, the decision of whether to adopt the “www” prefix in your WordPress website ultimately rests on your preferences and specific needs. While large websites with subdomains benefit from its use, other factors, such as aesthetics and brand recognition, play a role in the decision-making process. Regardless of your choice, the key is to execute the transition meticulously, following the provided steps, to ensure its seamless integration.

In summary, the question of “to www or not to www” has been addressed comprehensively. Large websites with subdomains have clear reasons to employ “www,” but for others, it’s a matter of personal preference and branding. Should you decide to embrace “www,” be sure to execute the process with precision to reap the benefits it offers to your WordPress site.

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Design and Development

Can I create a WordPress Website without Domain?

September 26, 2023

8 min read

Can I create a WordPress Website without Domain?

Exploring WordPress: A Comprehensive Guide Unlocking the World of WordPress: A Beginner’s Guide WordPress Essentials: Setting Up Your Foundation When it comes to starting your journey with WordPress, the initial steps can sometimes be a bit overwhelming. However, fear not! In this comprehensive guide, we’ll break down the process into easy-to-follow segments to ensure a […]

Exploring WordPress: A Comprehensive Guide

Unlocking the World of WordPress: A Beginner’s Guide

WordPress Essentials: Setting Up Your Foundation

When it comes to starting your journey with WordPress, the initial steps can sometimes be a bit overwhelming. However, fear not! In this comprehensive guide, we’ll break down the process into easy-to-follow segments to ensure a smooth start to your WordPress adventure. Let’s dive right in.

1. Registration and Account Creation

To embark on your WordPress journey, your first step is to register for a free account on WordPress.com. This initial account provides you with access to a basic version of WordPress, which you can use as your website’s foundation. Once you’ve successfully created your account, the possibilities are endless.

2. Customization: Shaping Your WordPress Universe

Now that you’re in the WordPress ecosystem, it’s time to add your personal touch. Customization is the key to making your website truly unique. Start by selecting a theme that aligns with your vision, and then proceed to populate it with your own content. This is where your creativity can shine through, allowing you to craft a website that reflects your personality or your brand.

3. The Domain Dilemma

A crucial aspect of setting up your WordPress website is selecting a domain name. Your domain name is your website’s unique address on the internet, ensuring that visitors can find you easily. While you can initially create your website on a temporary domain or subdomain, remember that this can be changed later when you’re ready to move to a custom domain name.

Unveiling the Power of WordPress: Benefits and Advantages

WordPress isn’t just a platform; it’s a robust toolset that offers a multitude of advantages. Below, we’ll explore some of the key benefits that make WordPress a top choice for both individuals and businesses.

4. Simplicity Meets Versatility: Ease of Use and Flexibility

WordPress’s user-friendly interface makes it accessible to users of all skill levels. Whether you’re a novice or a seasoned pro, WordPress provides an intuitive platform for building and managing your website. Its flexibility is equally impressive, allowing you to mold your site to your exact specifications.

5. Scalability: Growing with Your Ambitions

One of the standout features of WordPress is its scalability. As your website’s needs evolve and expand, WordPress grows right alongside you. Whether you’re running a personal blog or managing a thriving e-commerce site, WordPress can handle the demands of any project.

6. Tailoring Your Online Presence

WordPress’s high degree of customization is a game-changer. Businesses and individuals can shape their online presence with precision, ensuring their websites stand out in a crowded digital landscape. The ability to personalize themes, install plugins, and craft unique pages and posts sets WordPress apart from the competition.

Navigating the Technical Aspects: Creating a WordPress Website Without a Domain

Now that we’ve explored the advantages of WordPress, let’s delve into the technical aspects of creating a WordPress website without a custom domain. Follow these steps to get started.

7. Choosing Your Hosting Provider: Hostileo as Your Ideal Choice

To begin your WordPress journey without a custom domain, you’ll need a reliable hosting provider to store your website’s files and make them accessible on the internet. Hostileo, renowned as a world-class hosting provider, should be your first choice.

8. Selecting the Right Plan

Hostileo offers an array of plans, each tailored to different needs and budgets. It’s essential to choose a plan that aligns with your specific requirements, ensuring a smooth and cost-effective experience.

9. Account Creation and Dashboard Access

Once you’ve settled on a Hostileo plan, proceed to create your account and log in to your hosting account dashboard. This is your control center for managing your website’s technical aspects.

10. WordPress Installation Made Simple

Hostileo simplifies the process by offering one-click installation of WordPress, a powerful and open-source content management system. Look for the WordPress installation option within your hosting account dashboard and follow the straightforward instructions.

11. Opting for a Temporary Domain or Subdomain

During the WordPress installation, you’ll be prompted to choose a domain name. At this stage, you can opt for a temporary domain or a subdomain provided by Hostileo, eliminating the need for an immediate custom domain.

12. Personalizing Your Website

With WordPress successfully installed and your domain selected, it’s time to infuse your website with your unique style. Choose a theme that resonates with your brand or personality, install essential plugins, and begin creating your pages and posts.

13. Launching Your Website

When you feel ready to introduce your website to the world, you have two options: you can either utilize the temporary domain or subdomain provided by Hostileo, or you can take the plunge and purchase a custom domain name. Adjusting the domain settings in your hosting account dashboard will seamlessly transition your site to a custom domain.

A Note on Domain Choices

While using a temporary domain or subdomain can get you started quickly, it’s important to acknowledge potential drawbacks, such as a less professional appearance and potential SEO challenges. Therefore, it is advisable to secure a custom domain name as soon as possible to enhance your website’s professionalism and discoverability on the internet.

Seeking Assistance: Connecting with Hostileo Technical Support

If you find yourself facing any confusion or encountering technical hurdles during your WordPress journey, remember that Hostileo’s technical support team is just a click away. Their dedicated professionals are always ready to assist you, ensuring a smooth and trouble-free experience as you navigate the world of WordPress.

In conclusion, WordPress offers an exciting platform for both beginners and experienced users to build and customize websites. By following the steps outlined in this comprehensive guide, you can embark on your WordPress journey with confidence, knowing that Hostileo’s hosting services and WordPress’s flexibility will support you every step of the way. So, don’t hesitate—start crafting your online presence today!

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How to Maximize Tax Benefits When Building Custom Software for Your Business

Unlocking Tax Benefits through Custom Software Development

I. The Tax Benefits of Custom Software

II. Capitalizing vs. Expensing Software Development Costs

III. Outcomes of Capitalization and Expensing Compared

IV. Navigating GAAP Principles

V. An Example of Capitalizing and Expensing Software Costs

I. The Tax Benefits of Custom Software

II. Capitalizing vs. Expensing Software Development Costs

III. Determining Capitalization or Expense

IV. Navigating GAAP Principles

V. An Illustrative Case: Capitalization and Expense

I. The Tax Benefits of Custom Software

II. Capitalizing vs. Expensing Software Development Costs

III. Factors Influencing Capitalization or Expense

IV. Grasping GAAP Principles

V. A Real-Life Example: Capitalization vs. Expense

I. Unveiling the Tax Benefits of Custom Software

II. Capitalization vs. Expense: Decoding Development Costs

III. Tailoring Your Approach: Factors in Capitalization or Expense

IV. Navigating the Landscape of GAAP Principles

V. Bringing Theory to Life: A Case Study in Capitalization and Expense

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Accounting for Computer Software Costs

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The Fundamentals of Software Cost Accounting

Software Licensing Models: Perpetual vs. Subscription

Determining When to Expense Software Costs

FASB Guidance on Software Accounting

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How Do You Book a Capitalized Software Journal Entry?

Exploring Software Capitalization in Accounting

1. Software Capitalization: What Qualifies?

1.1 Internal Use Software

2. Dealing with Abandoned Software

3. Tax Considerations

4. External Use Software

4.1 Pre-Technological Feasibility

4.2 Technological Feasibility

4.3 Available for Sale

5. Capitalization Journal Entries

5.1 Data Gathering

5.2 Journal Entry Details

Journal Entry 1 (To capitalize software internally developed during June 2020):

6. Additional Considerations

7. Reconciliation

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Preliminary Project Stage

Application Development Stage

Post-Implementation/Operation Stage

Conclusion and Best Practices

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