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Overview

In AdviserLogic, liabilities are considered ongoing expenses related to assets, representing money owed for goods or services already received.

🚨 Important Distinction:

Liabilities should not be confused with Expenses, which refer to the ongoing costs related to a client's lifestyle (e.g., daily living costs, entertainment, or travel).

📌 Need to Add Expenses?

For lifestyle-related costs, refer to the How to Add Expenses instructions for step-by-step guidance.

Adding Liabilities

To add a Liability in AdviserLogic, navigate to the client's record, hover over the Assets and Liabilities tab, select Liabilities from the dropdown menu.

Hover over the Add button in the top-right corner of the window and choose the appropriate liability type from the list below:

Car Loan	A loan used to finance the purchase of a vehicle.
Margin Loan	A loan used for investing in shares or managed funds, often secured against the investment.
Investment Property Loan	A loan taken out to purchase an investment property. This can then be linked to an Asset in the Assets Screen.
Mortgage	A home loan secured against a residential property. This can then be linked to an Asset in the Assets Screen.
Personal Loan	An unsecured loan used for general personal expenses.
Credit Card	Outstanding balance on a credit card, typically with revolving credit.
HECS	A government-supported loan for higher education tuition fees.
Other Investment Loan	A loan used to finance investments other than property or margin lending.
Home Equity Loan	A loan that allows borrowing against the equity in a residential property.
Line of Credit	A flexible borrowing option that provides access to funds up to a set limit.
Business Loan	A loan used to finance business operations or expansion.
Other	Any other type of liability not listed above.

Select the most relevant option to ensure accurate financial tracking within AdviserLogic.

Adding a Liability

The process for adding a liability in AdviserLogic is consistent across all liability types.

How to Add a Liability in AdviserLogic:

Select the appropriate liability type from the Add button.
Enter the required details in the fields marked with a red asterisk ( * ) in the window that opens.
Save the entry to ensure the liability is recorded correctly.

Below is a breakdown of the fields you will need to complete when adding a liability.

Liability Fields

General Details

Description*	A brief name or identifier for the liability (e.g., "Car Loan").
Owner*	The entity responsible for the liability. Can be assigned to the Client, Partner, Joint holdings, SMSF, Superannuation entity, or Business entity.
Type of Liability*	The specific liability category selected (e.g., Car Loan, Mortgage, Credit Card, etc.).
Outstanding Amount ($)*	The current balance remaining on the liability.
As at*	The date for which the outstanding amount is accurate

Additional Details

Loan Structure	Defines whether the loan is Principal & Interest or Interest-Only.
Lender	The financial institution or provider of the loan.
Repayment Amount	The regular repayment amount required for the loan. *This field must be entered in order to show a redraw amount.
Repayment Frequency	How often repayments are made (e.g., Weekly, Fortnightly, Monthly, Annually).
Interest Rate (%)*	The current interest rate applied to the loan.
Tax Deductibility (%)*	The portion of the liability that is tax-deductible, expressed as a percentage.
Remaining Term (Years)	The number of years left until the loan is fully repaid.
Rate Type	Specifies whether the interest rate is Fixed, Variable, or a Combination.
Initial Loan Amount ($)	The original loan amount when first taken out. *This field must be entered in order to show a redraw amount.
Ongoing Commission (%)	The ongoing commission rate (if applicable) for loan maintenance.
Settlement Date	The official date when the loan was first issued.
Account Number	The unique identifier for the loan account with the lender.
Credit Limit ($)	For credit-based liabilities (e.g., credit cards, lines of credit), the total approved borrowing limit. *This field must be entered in order to show a redraw amount.
BSB	The Bank-State-Branch (BSB) number for the loan account.
Balloon Payment ($)	The lump sum amount due at the end of the loan term (if applicable).
Offset Age Pension	Indicates whether the liability should be considered in Age Pension calculations.
Managed Externally	Specifies whether the liability is managed outside of AdviserLogic.And will determine how the liability is shown in reporting
Notes	A free-text field for any additional comments or relevant details about the liability.

📌 Fields marked with an asterisk (*) are mandatory and must be completed before saving the liability.

Having completed the necessary fields. Select Save and Close The liability will be populated into the Liabilities list.

After creating the Liability, you will need to create the corresponding Asset in the Assets section to ensure accurate financial tracking.