HumanBookkeeping.com™ can help. We are expert bookkeepers that can help your small business with its bookkeeping needs. Here’s a short explanation of what Amortization means. If we can be of more help explaining what Amortization is or if we can help you with any of your small business bookkeeping needs, give us a call at 888-552-6657.
HumanBookkeeping.com™ provides a way for small businesses to have outsourced bookkeeping at a significant savings. We provide our clients with pre-printed envelopes. You stuff the envelopes and our expert team does the rest with detailed reports and timely compliance support. Not to mention, you now have a team of experts at your disposal should you have questions or last-minute needs. Let’s start with answering what Amortization means:
Amortization, like depreciation, is the process of spreading the cost of a long-term asset or revenue over multiple periods. The key difference between amortization and depreciation is based on the nature of the item. Tangible long-term assets (such as computers and machinery) are depreciated. Intangible assets (such as trademarks, goodwill, copyrights, and patents) are amortized over the period of time which is considered the useful life of the asset. The term amortization is also used to refer to the process of splitting deferred revenue over multiple periods.
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