Capturing liabilities is critical to get the right number of your net worth.
Liabilities have their menu item and you can create different sections on the liabilities page to organise them properly.
Liabilities are grouped by Lender which is the institution or person that has provided the loan facility
Video Tutorial for adding liabilities:
The steps are:
1: Select Liabilities from the menu on the left.
2: Select "Add Lender" to create your first group
3: Select the institution that provided the loan facility by searching or select "add manually" if the name is not on the list
4: Add additional optional information about the lender
Only the name is required to set up the lender, as it is used to show in the overview list. You can provide additional details here to store important information, like the account number, relationship managers or other related parties.
5: Fill the form:
The only required field is:
Name of the liability (This is used to show it in the overview list)
All other fields are options
You have different options for the type of loan:
Credit Card
Housing Loan
Loan Facility
Personal Loan
Secured Loan
Other
