Financials

Once your preferences have been setup, it's time to begin setting up your financial values. It's up to you which you choose first but for this guide, we will specify our financial goals first. It may be more valuable for you to load in all your Assets and Liabilities first to understand what financail goals are appropriate:

Financial Goals

For every section, specify a monetary or numerical goal. It's fine to leave things blank if you don't know a value:

We've defined a set of questions to discuss with your accountability partners:

Once your data has been filled in, you will see the updated values on the Summary page:

Assets

Lets add our first asset now. The only mandatory fields are the Name and what type of asset it is. For a list of possible asset types, refer to this link in the documentation. Each asset type has pre-defined fields we can save data for:

🔴 For each asset, we can choose if they are Active or Inactive. Inactive assets are not included on our Summary page. Only inactive assets can be deleted.

🟡 Each asset has an income type and tax type. These potentially contribute to our Summary page.

🟠 Any field which has a blue border is potentially used on calculations. The Last Updated field is used to define the staleness of the asset. We can link Assets to Liabilities -- but we don't have any defined yet so we can skip this bit for now.

The Notification Override can be used if we want to override the default staleness we set for Assets. The Investment amount and Liquidity is brought over to the Summary page. Once saved, the footer will be updated.

Once the asset is saved, it will show up on the list view. The Summary contribution values will show up in the right columns:

Liabilities

Lets similarly create a liability, similar to how we created an asset:

🔵 For both Assets and Liabilities, we can see additional capabilities on the top set of tabs. In this case, we can see an amortization calculator and historical trends for the debt (if our current subscription allows for it) as well as attachments related to the liability.

🔴 Like Assets, we can set Inactive or Active. We can also specify if this is considered recourse or non-resource debt.

🟠 The Principle Estimate is the current principle of the debt. We also save the Last Updated to track staleness.

🟡 Because we've created at least one other asset which can have a linked liability, we can choose that asset here. Likewise, once this liability has been created, we could have chosen it from the asset.

🟢 We've chosen to override the staleness check of this liability to only be once 45 days have passed since the Last Updated value.

Once we've saved the liability, we can see it in the list along with the summary contribution values.

Back on the Summary page, you can now see the contributions from the Asset and Liability.

🔴 For any value with the book icon, we can click and see the contribution membership and percentage:

For many fields, we've included summary descriptions of what they mean: