Investment goods in Contasimple

Record your investment goods in Contasimple
and keep your accounts up to date.

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What is an investment good?

An investment good is something you buy for using in your business with a useful life of more than one year and a value of more than 300€. The Tax Agency does not allow you to deduct an expense in full in the same period of purchase. You have to deduce it little by little as the good "depreciates" and loses value.

An investment good is therefore an asset that you have not purchased for sale to your client, but for use in carrying out your business. For example, the computer you use to work as a freelancer or entrepreneur.

Tangible fixed assets

It is a durable physical good.

Intangible fixed assets

When you buy software that you use on your computer, it is an intangible asset because it is not physical.

Real estate investment

In the case of buildings, the value of the land is not depreciable, but the construction and rehabilitation are.

How is an investment good deducted?

The deduction for investment goods costs is different from VAT (the portion of VAT borne on your purchase invoice) and personal income tax (the taxable base of your purchase invoice).

VAT deduction

You can recover the amount of VAT incurred on your purchase invoice in the same year in which you purchased it. Taxable contributions will only be 100% deductible if the assets acquired are fully affected by the activity.

The minimum amount to be considered an investment good for VAT purposes is a taxable base of 3005.06€.

Personal income tax deduction

Investment goods, in contrast to current expenses, depreciate over time; so we have to deduct personal income tax expense gradually over several periods according to the amortization rules.

An investment good whose value does not exceed 300€ (up to a limit of 25,000€ in the same year) can be freely depreciated as long as it is tangible and new.

How is an investment good accounted for and amortized?

Create new investment good

Home page

On the Contasimple home page, in the "Accounting" section, click on "Create new investment good”.


Number

In the "Number" section, enter the invoice number received from your supplier.

Number investment good

Date investment good

Date

In this section you will need to enter the date of the invoice received.


Due date

Due date for payment of the invoice received.

Due date investment good

Expense type investment good

Expense type

At "Expense type", select whether it is the depreciation of a tangible, intangible good or a real estate investment.


Supplier

You can select a supplier from the drop-down list or create a new one.

Supplier investment good

Computable percentage

Computable percentage

Represents the percentage of the invoice that will be accounted for in the tax calculation. It will normally be 100%, but if, for example, you are self-employed and carry out your activity in your own home, when you count depreciation, you will be able to charge it in proportion to the part of the house affected by the economic activity.


Private notes

You can write the private notes that you want. These notes will not appear on the invoice.

Private notes investment good

Concepts investment good

Concepts

You can type the concept of the product or service, or select it from your catalog by clicking the cursor on the left.

The price, discount and VAT rate will be imported automatically.

More information on the catalog of products and services.


Select the type of good

Your amortization table will open. You must first select the state of use and then the type of good you want to depreciate. The list will show the type of good, the annual coefficient and the amortization period in years.

Depending on the method in which you are registered with Contasimple (Normal or Simplified Direct Estimation Method), the name of the good type may change.

Select the type of good

Amortization method

Amortization method

Select Amortization Method:

  • By coefficient (annual amortization value): Allows you to amortize the expense as soon as possible if you apply the maximum coefficient allowed by the amortization table for each type of asset (recommended).
  • By period (number of years): The percentage to be amortized per quarter is less than the maximum ratio.

Amortization value

The value of the amortization will depend on the selected amortization method. If we have selected "Per coefficient", we will enter a value between 0 and 100 which represents a percentage. If we have selected "By period", we will enter a number of years.

Amortization value

Insert investment good

Insert investment good

Once you have entered all the data correctly, click on "Insert" to automatically save your investment good.


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Contasimple is a product of Grupo Primavera, a Cegid Company    C /Marina 16-18, planta 8, Torre Mapfre, 08005 Barcelona, CIF B67119594, T 932 933 806
Contasimple S.L.U. is a company registered in the Mercantile Registry of Barcelona in volume 46203, folio 76, sheet B-512849, inscription 1.