The Liabilities tab allows users to enter the client's current liabilities.
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The Liabilities tab will only be visible if the Client Type is set to Individual. |
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Selecting Joint Owners
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If you have added other client contacts on the Contacts tab (Step 3 - Contacts), they will appear in the Joint Owners list. Before clicking the right-arrow button to add a liability, double-click a contact in the Joint Owners list to indicate that a liability is jointly owned. | Note |
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Note: a tick next to the contact in the Joint Owners list means that when a liability is added, the contacts with a tick will also have a link to the liability. |
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Adding a Liability
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- Enter the liability details.
- Click the right-arrow button (
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1. To remove a redundant or incorrect liability, select the liability from the Liabilities list and click the left-arrow button ( Image Added).
2. A user cannot remove a liability from the Liabilities list that is an encumbrance for an asset. This form of liability can only be edited from the Asset that created the encumbrance (Step 9 - Assets). |
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IMPORTANT CONCEPTSLiability Type: use the Space Bar to toggle between Liability and Expense. |
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Process Navigation
