A house, for example, can be tracked as an
Asset, while the mortgage associated with
it can be tracked separately as a
Liability Account.
Assets
Learn how to track property, vehicles, valuables, and other assets whose value changes over time.
What Are Assets?
Assets represent things you own that have financial value but aren't best represented as financial accounts.
Common examples include your home, vehicles, electronics, household items, or other valuables.
As you update an asset's value over time, BananaBird builds a history showing how its estimated value has changed and can include that value when calculating your overall financial position.
Accounts vs. Assets
Both Accounts and Assets can contribute to your net worth, but they represent different kinds of things.
Accounts
Use Accounts for balances held at financial institutions or amounts you owe, such as chequing accounts, savings accounts, investments, credit cards, loans, and mortgages.
Assets
Use Assets for property and other things of value that aren't financial accounts, such as real estate, vehicles, electronics, or valuables.
Creating an Asset
To add an asset, open the Assets page and select Add Asset.
Basic Information
Name
A recognizable name for the asset. For example,
Home, 2024 Honda CR-V, or
Jewellery.
Category
Provides a general classification for the asset so similar
types of property can be organized consistently.
Liquidity
Describes how readily the value of the asset could generally
be converted into usable funds.
Description
Optional notes or other information you want to keep with
the asset.
Initial Value
When creating an asset, enter an Initial Value representing its estimated value when you begin tracking it.
If you also provide a Date Acquired, BananaBird can use that initial value as the starting point for the asset's history.
Asset values carry forward using the most recent known value
until you record a newer one. If no updated value has been
recorded yet, BananaBird uses the Asset's Initial Value.
Updating an Asset's Value
Asset values are updated through your snapshots. When you review an asset, enter your current estimate of its value.
You don't need to provide a new value in every snapshot. If an asset hasn't meaningfully changed, BananaBird can continue using its most recently recorded value.
When you eventually enter a new value, that becomes the value used from that point forward until another update is recorded.
Acquired and Archived Dates
The Date Acquired and Date Archived fields define when an asset belongs in your financial history.
Date Acquired represents when you obtained the asset. BananaBird does not treat the asset as active before this date.
When you no longer own an asset or no longer want to track it, give it an Archived Date. The asset remains in your historical records but is treated as inactive after that date.
Update Frequency
Not every asset needs to be revalued every time you create a snapshot. The Update Frequency lets you indicate how often you intend to review the asset's value.
Available frequencies include monthly, quarterly, semi-annually, annually, and ad hoc.
If an asset becomes overdue for an update, BananaBird will show a reminder on your Dashboard so you know it may be time to review and refresh its value.
Choose a frequency that makes sense for the asset and how closely you want to track changes in its value.
Asset Options
Include in Aggregates
When enabled, the asset is included in dashboard totals, charts, and other aggregate calculations. Turn this off if you want to track an asset without having it contribute to your primary financial totals.
Understanding the Assets Page
The Assets page provides an overview of everything you're currently tracking.
Asset List
The asset list shows each asset's category, acquired date, initial value, most recent update date, and current value. Archived assets can be displayed using the Show Inactive option.
Value Over Time
As asset values are recorded through snapshots, the Value Over Time chart shows how the combined value of your assets has changed.
Viewing an Individual Asset
Selecting an asset opens its detail page, where you can see its current value, when it was last updated, its general information, value history, and value-over-time chart.
The history table shows the values you've explicitly recorded for the asset and lets you open the corresponding snapshot when one is available.
Choosing an Asset Value
BananaBird does not automatically determine the market value of your assets. The value you record should be your reasonable estimate of what the asset is worth at that point in time.
The goal is general consistency rather than constant precision. Updating an asset periodically using a reasonably consistent approach makes its long-term trend more useful.
Still have questions?
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