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Assets & Liabilities

Assets & Liabilities is your live balance sheet across two tabs — Live Accounts and Add Assets & Liabilities — with auto depreciation/amortization and financial ratios.

Assets & Liabilities

Overview​

Create asset and liability accounts, let the system depreciate and amortize them, watch the balance-sheet totals and ratios, and compare across reporting periods.

Tabs in detail​

Live Accounts​

  • Period selector: As of Today, End of Last Month / Quarter / Year.
  • Assets grouped Current / Non-Current, Liabilities grouped Current / Long-term (Customer Deposits and Sales Tax Payable sit under Current), and Equity — each account is clickable, with section subtotals and Total Assets / Liabilities / Equity. Equity shows your Owner's Equity accounts plus an auto-derived Retained Earnings line (cumulative net income from the ledger), so the sheet ties to your Profit & Loss; empty sections (e.g., Non-Current Assets) are hidden.
  • Ratio cards: Current Ratio, Quick Ratio, Debt-to-Equity, Asset Turnover, ROA, ROE (each with trend and a Good/Warning/Poor badge).
  • Account edit modal: name, code, type/subtype, description; for assets — purchase price, depreciation method (straight-line / declining-balance / sum-of-years), useful life, location, serial, vendor, and an Auto-calc toggle; for liabilities — original amount, interest rate, dates, payment frequency, creditor, account #, minimum payment, and Auto-calc amortization. Manual balance edits post a balancing journal entry.
  • Export the balance sheet (CSV), with an "est." flag on auto-calculated balances.

Add Assets & Liabilities​

  • Asset form: Name, Asset Type (Current / Fixed / Intangible / Investment) and matching subtype, purchase price, current balance, purchase date, useful life, depreciation method, location, serial, vendor, description → Add Asset.
  • Liability form: Name, Liability Type (Current / Long-term) and subtype, original amount, current balance, interest rate, start/maturity dates, payment frequency (Weekly / Bi-weekly / Monthly / Quarterly / Annually), minimum payment, creditor, account #, description → Add Liability.

Step by step: add an account​

  1. Open Add Assets & Liabilities.
  2. Fill the Asset or Liability form (type + category + financials).
  3. For fixed assets/loans, set depreciation/amortization and toggle Auto-calc.
  4. Click Add Asset / Add Liability — it appears under Live Accounts.

Tips & best practices​

  • Use auto-calc for fixed assets and loans so values stay current without manual edits.
  • Keep account codes consistent with your chart of accounts for clean exports.
  • Watch Debt-to-Equity and Current Ratio for financial-health signals.

Troubleshooting​

IssueFix
Sheet doesn't balance (A ≠ L + E)Retained Earnings is derived from the ledger, so it should tie out; look for a sale or expense missing its journal entry, then refresh
Can't delete an accountIt has journal history, so it's deactivated instead — re-enable via Active Account
Auto-calc balance looks offAuto values are estimates; disable auto-calc and enter the real balance

What's next​