How Can We Help?
Organizing Assets and Liabilities in Your Net Worth Statement
Your Net Worth Statement is one of the most important financial reports in PocketPlan. It provides a clear, organized overview of everything you own (assets) and everything you owe (liabilities), helping you understand your true financial position at a glance.
Quick answer:
A Net Worth Statement in PocketPlan shows your total assets minus your total liabilities to calculate your net worth.
Understanding Your Net Worth Statement
PocketPlan calculates your net worth using a simple formula:
Total Assets − Total Liabilities = Net Worth
This calculation updates automatically as your accounts and values change.
What Are Assets?
Assets are things you own that have financial value. In PocketPlan, assets include:
Connected checking and savings accounts
Investment accounts
Manually added assets such as real estate, land, or vehicles
What Are Liabilities?
Liabilities are financial obligations or debts you owe, including:
Credit card balances
Loans and mortgages
Manually added liabilities such as car loans or personal debts
How PocketPlan Organizes Your Financial Data
PocketPlan automatically categorizes your financial accounts to keep your Net Worth Statement accurate and easy to understand.
Assets
Checking accounts
Savings accounts
Investment accounts
Liabilities
Credit cards
Loans
Mortgages
Manual Accounts
You can manually add:
Assets (for example, a home or property)
Associated liabilities (such as a mortgage or loan)
This ensures your Net Worth Statement reflects your complete financial picture, even when some accounts aren’t connected automatically.
How to View Your Net Worth Report in PocketPlan
Go to Financial Reports from your dashboard
Select Net Worth Report
View a detailed breakdown of:
Total assets
Total liabilities
Your overall net worth
The report is updated automatically whenever your account balances or manual entries change.
Why Organizing Assets and Liabilities Matters
✔ Clear Financial Overview
You can instantly see where your money stands and how your wealth is distributed.
✔ Better Financial Decisions
Understanding your net worth helps with budgeting, investing, and long-term planning.
✔ Global-Friendly Financial Tracking
PocketPlan is designed for users worldwide, making net worth tracking simple regardless of location or currency.
