Use a liability account in Quicken Classic for Windows to track money you owe that isn’t tied to a traditional loan or credit card. This account type helps you manually monitor balances and payments for personal debts or nonstandard obligations.
What is a liability account?
A liability account is designed for debts that don’t fit the structure of a regular loan. These accounts do not include automatic payment schedules or amortization features.
Note: Use the Loan account type for mortgages, auto loans, and other formal loans. Use Credit Card for revolving credit accounts.
Common use cases
Use a liability account to track:
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A personal loan from a family member or friend
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Money you owe to someone for a shared expense (such as covering a vacation or purchase)
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A balloon payment that doesn't follow a monthly loan schedule
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A debt settlement or court-ordered payment without a traditional lender
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A manual record of an external loan where you don’t want or need to use Quicken’s loan features
How to add a liability account
Follow these steps to create the account:
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Select the + button in the Account Bar or choose Tools > Add Account.
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In the Add Account window, go to the Other Assets & Liabilities tab.
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Select Liability from the list.
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Enter an account name that clearly describes the debt (for example, Loan from Parents or Medical Payment Plan).
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Enter the amount you currently owe.
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Enter the as of date—usually today or the date the balance began.
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Select Next, then review the details and select Finish.
After setup
Once created, the account appears in the Account Bar under liabilities. You can:
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Manually enter payments and reduce the balance over time
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Adjust the balance if needed
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Include or exclude the account from reports and net worth calculations
This account is not connected to any financial institution and won’t download transactions automatically.