The Future Liabilities tab in the Set Asset Details window allows you to record a liability against an asset. This is used when you finance the purchase of an asset.
To record a liability against an asset:
- From the Home page, click Assets & Stock
- Click Asset Register
- The Asset Register will open. Select Add New or Edit
- If you are adding an asset, enter all the required information
- If you are editing, make the required changes
- The Set Asset Details window opens. Click the Future Liabilities tab
- The Future Liabilities tab opens
- Tick the Does the Asset have an Associated Liability? checkbox
- Select the Payment Option: Choose Monthly, Quarterly or Annual
- Select the Payment amount and duration
- Select the 1st Payment Month
- Select the Balance Sheet Category (if applicable)
- Click the green tick to save
- Click the black cross to close the window
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