Your business owns or controls goods or items of lasting nature. These are called assets.
From an accounting point of view, an asset is a resource of economic value that an individual or company controls and can expect to make a profit or benefit from in the future. An asset could be a business computer, car, a patent, or raw materials.
When you start your business, you typically invest in assets or items that have a long-lasting nature. Machinery, office furniture, computers, patents, or trade marks are examples of what's generally referred to as 'fixed assets'.
With Debitoor we give you the option to treat your expenses as assets.
Assets, amortisation and depreciation
Your business assets lose value over time, either through use or due to technological changes and improvements. In the world of accounting, this process is known as depreciation or amortisation.
With our more advanced paid plans, you can process your expenses as assets and automatically calculate depreciation.