Creating a Liability

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Overview

Practifi can record a list of Assets and Liabilities for a Client on their Client record. Users can add liabilities manually to the Client record; however, if Liabilities are managed in an external Portfolio Management System (like Addepar, or Black Diamond, or Orion, or Tamarac, and the like), the list will be synchronized from those systems by way of an integration with that system.

Financials

The list of Assets and Liabilities appears under the Financials section, Liabilities subtab, of the Client record.  

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Liabilities added from an external system, typically a Portfolio Management System will appear as rows on the Liabilities table.  The process to add a Liability manually is started with clicking the New Liability button on the top right.

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A range of fields are presented, some of which are relevant only for particular Liability types.  Complete the fields which are appropriate for Liability, and in particular the Name, Category, Under Advice, As At, and Current Value fields.  Click the Save button on completion.  

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A success message will appear.  Click the X on the right side to close the message.

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On refreshing the list of Liabilities, the new Liability will appear.

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