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Capitalized Software Costs
 6 Months Ended
Jun. 30, 2023
Capitalized Software Costs [Abstract]  
CAPITALIZED SOFTWARE COSTS

NOTE 4 - CAPITALIZED SOFTWARE COSTS

 

The Company capitalizes certain development costs incurred in connection with software development for internal-use software platforms used in operations and for providing services to our customers. Costs incurred in the preliminary stages of development are expensed as incurred. Once software has reached the development stage, internal and external costs, if direct, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized internal use software development costs are included in intangible assets and are amortized on a straight-line basis over the estimated useful life of the software platforms and are included in depreciation and amortization within operating expenses in the consolidated statements of operations. Amortization of capitalized internal use software expense for the six months ended June 30, 2023 and 2022 was $95,108 and $226,819, respectively. The Company accumulates capitalizable costs related to current projects in a CIP software account, the balance of which was $1.3 million and zero at June 30, 2023 and December 31, 2022, respectively.