Learn how to add a liability (e.g. mortgages, car loans, etc)
Adding a liability is a little less counter-intuitive than adding an asset, due to the nature of it being open-ended to cater to a wide variety of assets/liabilities.
If you have an idea on how to better implement this or any further questions at the end of the tutorial, please don’t hesitate to post in the forum!
- First, you need to create the asset (or liability in this case) listing here.
- Next, enter a buy transaction of price 0 here.
Why? Buy because you are acquiring a liability. Price 0 because you will change the current value somewhere else. Another reason for price 0 is so that the P&L is straightforward.
The quantity should be set to 1 in 99% of the cases, unless you have several liabilities of similar value.
- Finally, you want to set the current value of the liability to be a negative value. Go to the Recent Values page (view a demo here) and click Add new value.
Enter a negative value (e.g. amount of the loan left or amount of the liability) in the Value per unit field.
Tip #1: To see the demo account page, you MUST NOT be logged in.
Tip #2: Another way to access the add new recent value page: Start from asset listing 10, click on the asset (or liability) and click on “Add new value” link.