{"id":156,"date":"2014-05-09T14:22:25","date_gmt":"2014-05-09T12:22:25","guid":{"rendered":"http:\/\/support.rentila.com\/?p=156"},"modified":"2024-06-08T18:08:29","modified_gmt":"2024-06-08T16:08:29","slug":"interets-dmprunt","status":"publish","type":"post","link":"https:\/\/www.rentila.co.uk\/support\/archives\/156","title":{"rendered":"Amortization"},"content":{"rendered":"

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.<\/p>\n

To record amortization, follow these steps in the Finances section:<\/p>\n

    \n
  1. Click on “Add an expense”.<\/li>\n
  2. Choose the type “Amortization”.<\/li>\n
  3. Select the duration of amortization.<\/li>\n
  4. Save the information by clicking on “Save”.<\/li>\n<\/ol>\n

    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.<\/p>\n

    Examples of usage duration<\/span> <\/p>\n

    Here are some examples of usage duration that you can apply to amortizable expenses:<\/p>\n

      \n
    • Main structure: 75 years<\/li>\n
    • Facade: 75 years<\/li>\n
    • Electrical installation: 30 years<\/li>\n
    • Waterproofing (windows): 25 years<\/li>\n
    • Roofing: 25 years<\/li>\n
    • Heating: 20 years<\/li>\n
    • Plumbing: 20 years<\/li>\n
    • Interior fittings: 12 years<\/li>\n
    • Works: 10 years<\/li>\n
    • Fitted kitchen: 10 years<\/li>\n
    • Appliances: 5 years<\/li>\n
    • Furniture: 5 years<\/li>\n
    • Other small equipment: 5 years<\/li>\n<\/ul>\n

      Examples of calculation<\/span><\/p>\n

      To calculate the amortization of a fitted kitchen worth \u00a310,000 over a period of 10 years, you can use the straight-line amortization method. This method evenly distributes the cost over the amortization period. Here is how you can calculate it:<\/p>\n

        \n
      • Base amount of the expense: \u00a310,000<\/li>\n
      • Duration of amortization: 10 years<\/li>\n
      • Start date of amortization: 15 June 2021<\/li>\n<\/ul>\n

        To determine the annual amortization, divide the total amount of the expense by the duration of amortization:<\/p>\n

        Annual amortization = Amount of the expense \/ Duration of amortization Annual ; amortization = \u00a310,000 \/ 10 years Annual amortization = \u00a31,000 per year.<\/p>\n

        Thus, you will amortize \u00a31,000 each year for the 10 years following 15 June 2021. This means that for the year 2021 (the start year), you will amortize a portion of \u00a31,000, pro rata. The calculation formula for the first year is: Base amount x Rate x (Time\/360). So, in the case of the example: \u00a31,000 x 100% x (16 + 30 + 30 + 30 + 30 + 30 + 30 \/ 360) = \u00a3544.44<\/p>\n

        For each subsequent year until 2031, you will also amortize \u00a31,000.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        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<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[27,26],"class_list":["post-156","post","type-post","status-publish","format-standard","hentry","category-finance","tag-interest","tag-loan"],"yoast_head":"\nAmortization Support center - Rentila<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentila.co.uk\/support\/archives\/156\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amortization Support center - Rentila\" \/>\n<meta property=\"og:description\" content=\"Certain expenses are deductible from taxes. Amortization refers to the loss of value of an asset over a given period. 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