Certain expenses are deductible from taxes. Amortization refers to the loss of value of an asset over a given period. Each year, it is possible to deduct the amount of this loss in value. To record amortization, follow these steps in the Finances section: Click on “Add an expense”. Choose the type “Amortization”. Select the duration of amortization. Save the information by clicking on “Save”. Rentila uses the straight-line amortization method. This method evenly distributes the cost over the amortization period. The calculation formula is: Annual amortization = Amount of the expense / Duration of amortization. Examples of Useful LifeHere Read more →