How to Amortize Patents, Trademarks and Intangible assets with Asset.Guru

Need to Amortize Patents and intangible assets? 

Good news, you can do that with Asset.Guru !

Adding your patents, trademarks, software projects and intangible assets is very simple. 

You can:

  • Add charges (fees, legal costs, software development improvements) using the revaluation feature, 
  • Calculate the gain or loss on a sale of the patent automatically and of course 
  • Write it off / expense the item with the dispose feature! 

Ready to upload? This is what you'll need:

  1. Patent lodgement or creation date: Place this in the Purchase Date field
  2. Patent initial Cost: place this in the purchase price field

Optional if you've been amortizing elsewhere prior to using Asset.Guru:  

a. Current written down value (Net Book Value)

b. Current written down value date (Net Book Value date)

3. An Asset Type to put the patent/trademark/intangible asset against

The easiest decision will then be what to do next:

  • All set and ready to start amortising the item? If so then activate the asset!
  • Not ready to go yet, and want to add additional charges against the patent, trademark or intangible asset? Keep it as a draft asset and you can adjust the purchase price or current value (net book value) accordingly then activate it when you're ready to start amortizing the asset

Bonus: You can continue to add charges (fees/legal costs/software improvements) using the revaluation anytime after the asset is activated

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