Discover here what is the asset amortization
As a general rule, an asset is an acquisition whose nature is generally a good, tangible or intangible, associated with a purchase. In most cases, the asset will be subject to amortization, thus generating its activation with its accounting. It doesn't impute the expense from the purchase, but the one associated with the depreciation that it suffers at the rate of certain coefficients, established by regulation.
These types of assets are represented at the balance sheet level and at the time of closing, whether it is monthly, quarterly, or annually, will allocate the proportional part of the period with respect to its amortization.
When creating an asset, if you classify the counterpart as a group 2 account, that is, assets, said asset will be incorporated into its section, generating a table with different types of information.
Information of the asset table
- Asset purchase date
- Account in which the asset has been included
- Account name
- Name or description of the asset
- Document originating the inclusion of the good
- Purchase price
- Amortized value to date
- Present value of the asset, after deducting the accumulated depreciation
- State of the asset, we can find it in the current or amortized state
Things you can do with an asset
Create an asset
Learn here how to create an asset
Remove an asset
Learn here how to remove an asset