​Neat - The Neat Experience! Assets and Liabilities in Neat

Assets and Liabilities in Neat

Please Note: You must be on an active Neat Books subscription or a Neat Complete subscription in order to take advantage of the features in this article.

Additionally, the features in this article are still in a beta phase and some functionality is missing.

Neat provides the ability to categorize items as Assets or Liabilities. Track equipment or resources you own as Assets and record debts owed as Liabilities. You can create Asset and Liability accounts in Transactions and select specific Asset and Liability categories. This offsets them from Income and Expenses to provide more accurate reporting and insights within Neat. Generally, items you own are considered assets if they cost at least $1,000.00.



Assets and Liabilities FAQs

How do I create Asset and Liability accounts?

Please follow the steps below to create an Asset and Liability account in Neat.

  1. Select Transactions from the left-hand menu.
  2. Choose Add Account at the bottom left.
  3. Select Create an Asset or Liability Account from the pop up window.
  4. You will then choose a type of Asset or Liability. There are multiple types to choose from including:
  • Equipment and Property which can be furniture, office equipment, vehicles or property that the business owns or leases for an extended period of time.
  • Payables which is money owed by the business that is a short term debt or purchased on credit.
  • Other Asset which is Current, Fixed or other assets that the business owns, but are not equipment and property or cash.
  • Other Liability which is money owned by the business that is fixed or long term debt.

  1. When choosing either Equipment and Property as an asset account or Payables as a liability account, you will be presented with a screen where you will enter an Account Name, Starting/Opening value and the Balance date. Once all information is entered, you will click Save to create your new Asset or Liability account.
  2. Once saved, your new account will be added to the left hand menu of the Transactions screen.
  3. When choosing Other Asset or Other Liability, you will be presented with a screen where you will enter in the Liability type (current, fixed or other), an Account Name, Starting/Opening value and the Balance date. Once all information is entered, you will click Save to create your new Asset or Liability account.
  4. Once saved, your new account will be added to the left hand menu of the Transactions screen.

What Asset and Liability categories are available?

You can view the available Asset and Liabillity categories in the Chart of Accounts by clicking your name in the top right and choosing Chart of Accounts.



Assets have the following subcategories available:

  • Bank - Accounts connected via Transactions will be available.
  • Cash - If you've created a Cash on Hand account it will be available.
  • Equipment & Property - This will appear once created in the Transactions section.
  • Other Asset - This will appear once created in the Transactions section.



Liabilities have the following subcategories available:

  • Credit Card - Accounts connected via Transactions will be available.
  • Payables - Accounts connected via Transactions will be available.
  • Loan - This will appear once created in the Transactions section.
  • Other Liability - This will appear once created in the Transactions section.




How do I set Asset and Liability categories?

To categorize your items as Assets or Liabilities:

  1. In Transactions, open the item you wish to set as an Asset or Liability.
  2. Click on the Category and choose an Asset or Liability category. (Equipment & Property, Other Asset, Payable, Other Liability).
  3. Then choose the appropriate account. If you have no account listed or wish to create a new account, select Add/Edit Category.
  4. Enter the Account Name and Opening Value. Adjust the Balance Date as desired. Click Save to create the account. It will now be available to choose as your category and will also appear in your Chart of Accounts.


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