Assets & Liabilities

Assets & Liabilities helps you maintain an accurate balance sheet by tracking what you own and what you owe.

Tabs overview

Tab	Purpose
Overview	Balance sheet summary
Assets	Add and manage assets
Liabilities	Add and manage debts

Overview tab

Summary cards

Card	Shows
Total Assets	Everything you own
Total Liabilities	Everything you owe
Equity	Assets minus liabilities

Financial ratios

Ratio	What it measures
Current Ratio	Short-term liquidity
Quick Ratio	Immediate liquidity
Debt-to-Equity	Financial leverage

Balance sheet tables

Section	Examples
Current Assets	Cash, inventory, receivables
Non-Current Assets	Equipment, property, vehicles
Current Liabilities	Payables, short-term loans
Non-Current Liabilities	Long-term debt, mortgages
Equity	Owner's equity, retained earnings

Assets tab

Adding an asset

1. Click Add Asset
2. Select asset type:

Type	Examples
Current	Cash, inventory
Fixed	Equipment, vehicles
Intangible	Software, patents
Investment	Securities, property

3. Fill in details:

Field	Description
Name	Asset description
Category	Asset classification
Purchase price	Original cost
Current value	Present value
Purchase date	When acquired

4. For fixed assets, add depreciation:

Field	Description
Method	Straight-line, declining balance, sum-of-years
Useful life	Expected lifespan in years

5. Submit to add to balance sheet

Liabilities tab

Adding a liability

1. Click Add Liability
2. Select liability type:

Type	Duration
Current	Due within 1 year
Long-term	Due after 1 year

3. Fill in details:

Field	Description
Name	Liability description
Category	Loan, lease, credit card, etc.
Original amount	Initial balance
Current balance	Amount owed now
Interest rate	Annual percentage
Start date	When it began
Maturity date	When due (if applicable)
Payment frequency	Monthly, quarterly, etc.
Minimum payment	Required payment amount

4. Submit to update balance sheet

Helper cards

The system shows reminders for:

• Assets missing depreciation details
• Loans nearing maturity
• Items needing reconciliation

Tips

• Search before adding to avoid duplicates
• Set depreciation details at purchase time
• Check helper cards regularly for tasks
• Review ratios monthly for financial health

Troubleshooting

Issue	Solution
Totals seem wrong	Check all items are categorized correctly
Depreciation not calculating	Verify method and useful life are set
Can't find an asset	Use search or clear filters

What's next

• View balance sheet report: Reports → Assets & Liabilities
• Check profitability: Reports → Profit & Loss
• Log expenses: Finance → Expenses