A liability represents the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future. The liabilities of a household is a combined measure of the liabilities of every household person member.
Envizage supports the following liability types:
- Secured Debts
- Unsecured Debts