Adding a liability to Net Worth

The Net Worth page allows you to use PocketSmith to track other financial assets and liabilities that may not have accounts, such as your house and mortgage or car and car loan. If you want an overview of the Net Worth page, check out the article: Overview of Net Worth.

Adding an asset or liability are similar but with slight differences. For details on adding a liability, see the article: Adding an asset to Net Worth

Steps to add a liability to Net Worth

1. Go to the the Budgets & Reports menu and select Net Worth

2. In the toolbar, click on Add Liability

3. Select the liability type, either Loan or Other debt over $1000

4. Enter the details of the liability

5. If this liability is for an asset, select Yes for the question Do you want to group this liability with an existing asset?,  then click the Save & continue button and you will then be taken to another page, see article: Manage money owing towards an asset

If you select No, proceed to the next step

6. If you want to and an interest or a depreciation rate for the liability, select Yes for the question Do you want to set interest/depreciation for this liability?. Then click the Save & continue button and you will be taken to another page to enter these details.

If you select No, click the Save button to create the liability

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