Balance Sheet Information

3 Months Ended

Sep. 30, 2021

Balance Sheet Information

Balance Sheet Information

(5)  Balance Sheet Information

The following tables provide details of selected consolidated balance sheet items:

Activity in the allowance for credit losses related to accounts receivable was as follows:

Balance at June 30, 2021	$	800
Charged to expense		38
Write-offs		(44)
Balance at September 30, 2021	$	794

Capitalized internal-use software and accumulated amortization were as follows:

	June 30,		September 30,
	2021		2021
Capitalized internal-use software	$	150,922	$	160,751
Accumulated amortization		(105,904)		(112,032)
Capitalized internal-use software, net	$	45,018	$	48,719

Amortization of capitalized internal-use software costs is included in Cost of revenues and amounted to $5,386 and $6,128 for the three months ended September 30, 2020 and 2021, respectively.

Property and equipment, net consist of the following:

	June 30,		September 30,
	2021		2021
Office equipment	$	5,211	$	5,327
Computer equipment		45,420		50,055
Furniture and fixtures		13,104		13,350
Software		6,641		7,091
Leasehold improvements		46,814		47,191
Time clocks rented by clients		5,399		5,769
Total		122,589		128,783
Accumulated depreciation		(62,754)		(66,518)
Property and equipment, net	$	59,835	$	62,265

Depreciation expense amounted to $4,005 and $3,842 for the three months ended September 30, 2020 and 2021, respectively.

The following table summarizes changes in goodwill during the three months ended September 30, 2021:

	September 30,
	2021
Balance at June 30, 2021	$	33,650
Additions attributable to acquisition		34,372
Balance at September 30, 2021	$	68,022

Refer to Note 4 for further details on the current year acquisition.

The Company’s amortizable intangible assets and estimated useful lives are as follows:

					Weighted
					average
	June 30,		September 30,		useful
	2021		2021		life (years)
Proprietary technology	$	6,129	$	27,329	6.6
Client relationships		19,200		22,300	7.8
Non-solicitation agreements		1,600		1,600	3.1
Trade names		440		1,640	5.0
Total		27,369		52,869
Accumulated amortization		(14,342)		(15,694)
Intangible assets, net	$	13,027	$	37,175

Amortization expense for acquired intangible assets was $844 and $1,352 for the three months ended September 30, 2020 and 2021, respectively.

Future amortization expense for acquired intangible assets as of September 30, 2021 is as follows:

Remainder of fiscal 2022	$	5,981
Fiscal 2023		7,808
Fiscal 2024		6,803
Fiscal 2025		5,748
Fiscal 2026		4,129
Thereafter		6,706
Total	$	37,175

The components of accrued expenses were as follows:

	June 30,		September 30,
	2021		2021
Accrued payroll and personnel costs	$	73,969	$	46,220
Operating lease liabilities		7,549		7,729
Deferred revenue		9,442		10,167
Other		12,149		16,901
Total accrued expenses	$	103,109	$	81,017