Liabilities

Liabilities lets you connect loan, credit-card and overdraft accounts from Xero. The feature is available to organisations with Liabilities enabled.

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Connect a Xero liability

1. Open Settings → Integrations → Xero, choose the ledger for the borrower, then select Manage liabilities. You can also open Liabilities directly.
2. Select Connect Xero account and choose the borrowing account. The borrower is taken from the entity assigned to that Xero ledger.
3. Confirm the liability name and choose Credit card, Loan or Overdraft.
4. Choose the date from which to track interest.
5. Select the Xero expense accounts used for interest on this borrowing. Select only interest accounts: fees, purchases and principal repayments should be recorded separately in Xero.
6. Select Connect and sync. The connection is saved, and the first sync begins. Larger histories can take a few minutes.

Only accounts listed as bank accounts in Xero can use this flow. A loan recorded solely as a general-ledger liability account is not available here. If an account is missing, check its setup in Xero and refresh the chart of accounts in Xero settings. An account already recorded as an investment cannot also be connected as a liability. Pausing its bank feed does not remove the investment or its reporting history. Review the existing investment record before changing how the account is recorded.

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Review balances

The list shows the borrower, amount owed, net interest expense and sync status. Facilities are listed alphabetically.

• Amount owed is shown as a positive amount. An overpaid account shows zero owed and a separate credit balance.
• Balance currency follows the Xero ledger’s reporting currency. Interest amounts use the borrowing account’s currency. Each figure shows its currency; these may differ for a foreign-currency account.
• As at identifies the balance date. Last synced identifies the last successful update.

Balances come from Xero’s books and may differ from your lender’s statement. Unreconciled items can cause differences.

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Review interest expense

Select Interest history on a facility. Choose a date range to see the net expense for that period, then use View in Xero to inspect a source transaction. Use Next page for longer histories. Interest charges increase expense; refunds reduce it. Amounts exclude tax. Only posted bank transactions on the connected account, using your selected interest expense accounts, are included. Unreconciled statement lines, bills, journals and interest paid from a different bank account are not included. The figures do not determine whether an expense is tax deductible. Each successful sync refreshes the selected period from Xero. Corrections, deleted transactions, changed dates and changed expense coding are reflected without adding duplicates.

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Manage the connection

• Sync now refreshes balances and interest. Active connections also update with the daily Xero sync.
• Configure lets you change the name, type, start date or interest account selection. Save and sync also resumes a paused connection.
• Pause stops future updates and keeps existing balances and interest history.

If a sync fails, previous figures remain available and the facility shows Needs attention. Check the Xero connection and selected expense accounts, then retry. If the first sync fails, the connection remains saved and the figures show Awaiting sync. Disconnecting Xero keeps the liability and its recorded history. Reconnect the same ledger and bank account to reuse the liability, then confirm the interest expense accounts again.

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Explore manual entry

Select Explore the manual-entry wireframe to try adding a liability by hand. Enter the facility, lender, borrower, amount owed and interest rate, then select Add to preview. Optional fields include the facility limit, maturity date and fixed-rate end date.

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Open a liability

Select a liability’s name to open its detail page. Review the latest amount owed, borrower, account currency, connection status and import start date in one place. Use Sync now to refresh the figures or Configure to change its settings.

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Interest chart and codes

Amount owed over time shows balances saved on successful sync dates. The latest balance already saved is retained as the first observation. Further daily or manual syncs build the history; a repeat sync on the same date updates that observation. Earlier dates are not reconstructed, and a missed sync leaves a gap. Select View recorded balances for the dated amounts and any credit balances. If the ledger currency changes, use Balance currency to view each currency separately. Monthly interest and payments compares recorded interest charges less refunds (excluding tax) with transfers into the liability. Months with recorded activity appear in date order. Select View monthly figures for the same amounts in a table. Use Activity currency when there are payments in another currency; amounts in different currencies are never added together. Changes in the amount owed can include new borrowing, interest, fees and adjustments. Neither the balance change nor a payment total is a confirmed principal repayment. These charts show recorded activity, not a repayment forecast. Interest codes lists the selected Xero expense accounts and their codes. If a selected account is no longer available, review the mapping in Configure. Use the interest history below to filter dates and open the source transaction in Xero. Supporting files held in Xero remain available through that transaction; they are not copied into EveryWealth.

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Source documents

Select Attach document to find an existing loan agreement, lender statement or other file in your Documents library. Search by file name and select Attach. You can attach the same file to more than one liability. For a new file, select Upload a new file in Documents, upload it in the library, then return and select Refresh library to attach it. Governance records are managed separately and are not listed in this picker. Reference files are shown only when you have permission to read them. Select a file’s name to open it in a new tab. Remove link removes the file from this liability only; the original remains in Documents. Disconnecting Xero keeps your document links and recorded interest history.

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Repayment activity

Select Sync now to import Xero transfers into the liability from the configured start date. Repayment activity shows the latest 100 payments with dates, references and links to their source transactions in Xero. The monthly chart includes all imported transfers, not just those 100 rows. Payments are shown in the paying account’s currency. A payment can cover interest, refinancing or an overpayment as well as principal, so no principal split is assumed. Transfers out of the liability, spend-money transactions, journals and other payment methods are not counted here. Interest continues to use the expense accounts you selected. Each successful sync updates corrected transfers and removes deleted ones from repayment activity. If any part of a sync fails, the previous balances, interest and payments remain available. Refresh the chart of accounts in Xero settings if a paying account’s currency cannot be confirmed, then retry. Pausing or disconnecting Xero keeps the saved history.

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Dates and refreshing saved figures

Dates entered for a fixed rate or maturity stay on the calendar day you selected, wherever you view them. Xero syncs use the connected ledger’s local calendar day, including daylight-saving changes. After you change a connection’s settings, the previous successful figures remain visible until a new sync succeeds. A notice identifies figures from the previous setup. If Xero is busy, syncing may take longer while EveryWealth retries; if it still fails, your saved figures remain available.