Manage all your loans and liabilities in one place.
The Liabilities lens allows you to create and manage debt, credit, inter-entity loans and indirect debt. Everything in the Liabilities lens contributes to your personal balance sheet, the Net Worth Statement Lens.
Debt
The Debt tab is for your typical and common liability, something like a mortgage. They can be associated with an asset, but don't have to be. Debt is an obligation to repay borrowed money that involves a contractual agreement with set terms for repayment, interest rate, and a specified timeframe.
Credit
Credit is an obligation to repay funds drawn from a pre-approved limit, involving a contractual agreement with terms for repayment and interest rates, typically without a specific repayment timeframe, allowing for flexibility in the usage and repayment of funds. This usually means a line of credit or credit card.
Inter-Entity
An inter-entity loan is a financial agreement where one entity lends money to another within the same organization, the borrowing entity incurs a debt, and the lending entity acquires a private credit asset.
Indirect
Indirect is used for tracking outstanding debt against an asset that you're not personally responsible for but wish to monitor.