Liabilities are debts subtracted from your gross assets to calculate net worth.
Create a liability
Open Liabilities, select New liability, and complete:
- owner Entity, when available;
- name;
- currency;
- debt type: Mortgage, Consumer loan, Credit card, or Other;
- optional annual interest rate;
- optional note.
Debt type is a category and does not change calculations. Interest rate does: when at least one liability has a rate, Hugo incorporates the balance-weighted average debt cost into Debt Score.
Add the outstanding balance
Open the liability and select New entry. Enter the amount currently owed as a positive number. Hugo subtracts it automatically.
There is one entry per calendar month. Saving another value for the same month overwrites it. The monthly closing automatically offers any active liability without a value for the closing month.
Archive a repaid or inactive liability to remove it from current totals while retaining history. Delete an individual entry only when it is genuinely wrong; deletion cannot be undone.