Net Worth, Assets & Liabilities


See your total financial value based on what you own and what you owe. Add assets and liabilities to PocketSmith so that your Net Worth is reflective of your true financial situation!

The Net Worth page provides an overview of your complete financial position, including any assets and liabilities you've added to PocketSmith that are not represented by your bank accounts.

Check out the Net Worth page to see your finances broken into two sections:  What I own (green section) shows any accounts with a positive balance and your assets; What I owe (red section) shows any accounts with a negative balance and your liabilities

Just getting started?

Adding all your assets (e.g. a house or car) and liabilities (e.g. a loan or mortgage) gives you a better indication of your complete net worth. Use the + icon in the toolbar to add new assets and liabilities or check out: Using the Net Worth page


Quick Answers

Can I set up an investment account as an asset?

Yes! If your investment account can't be tracked via a bank feed you can add this account as an asset to your Net Worth page. We’ve got all the details here: Managing your assets and liabilities

Once your asset has been added, we recommend keeping the balance updated manually to reflect changes within the account. For information on how to do this please see: Updating the value of an asset or liability from the Calendar page

Assets are different to accounts, as they do not have transactions associated with them. If you do want to track regular contributions to your investment account, you can set up a transfer budget to automatically update the balance for you. To learn how to do this check out: Creating a transfer budget for an asset

How do I account for growth or depreciation against an asset or liability?

If you’d like to set a fixed interest rate for an asset or liability you can do this from the Net worth page. Just click on the name of the asset or liability and head to Manage interest & depreciation to set the interest rate and the frequency with which it is applied.

Alternatively, if you would like to account for regular contributions to an asset or a liability you can set up a transfer budget. Assets are different to accounts, as they do not have transactions associated with them. If you do want to track regular contributions to your investment account, you can set up a transfer budget to automatically update the balance for you. To learn how to do this check out: Creating a transfer budget for an asset


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