Overview
The Liability tab displays all GL codes from your connected accounting system identified as liability accounts. These are mapped across the following headers in the Castaway chart of accounts: Trade Payables, Payroll Liabilities, GST/VAT, Income Tax, Dividend Payable, Provisions, and Finance (which includes Debtor Finance, Inventory Finance, and Loans Payable).
Trade Payables Header
An inbuilt Balance Sheet (Trade Creditors) line exists under this header. Map your trade creditors GL code here in most cases.
Partner Elements
Partner lines appear automatically when a Cost or Inventory element's Creditor Reporting setting is changed from the default. Map the relevant GL codes to these lines once they appear.
| Line | Appears When |
|---|---|
| Balance Sheet (Trade Creditors) | Always present — inbuilt |
| Individual creditor balance lines | A Cost element Creditor Reporting setting changed to Current Creditor or Non-Current Creditor (Expense tab) |
| Individual creditor balance lines | An Inventory element Creditor Reporting setting changed to Current Creditor (Expense tab) |
Payroll Liabilities Header
Three inbuilt lines exist under this header. Map the relevant GL codes to each line — no element creation is required.
| Line | Map your GL Code for |
|---|---|
| Balance Sheet (Tax Withheld) | PAYG withholding / tax withheld on wages |
| Balance Sheet (Pension) | Superannuation / pension liability |
| Balance Sheet (Employer Taxes) | Payroll tax / national insurance liability |
GST/VAT Header
Two inbuilt lines exist under this header representing different stages of the GST/VAT position.
| Line | Purpose |
|---|---|
| GST (Accrual) | Liability for GST/VAT not yet lodged with the tax authority |
| GST (Payable) | Amount owed or receivable for a lodged activity statement. Impacts cash flow timing in the forecast. |
Map the relevant GL codes to each line — no element creation is required.
Income Tax Header
Two inbuilt lines exist under this header representing different stages of the income tax position.
| Line | Purpose |
|---|---|
| Income Tax (Provision) | Recognition of income tax that will become payable |
| Income Tax (Payable) | Liability owed to the tax authority based on a lodged income tax return. Impacts cash flow timing in the forecast. |
Map the relevant GL codes to each line — no element creation is required.
Dividend Payable Header
An inbuilt Dividends line exists under this header representing the dividend liability. Map your dividend payable GL code here — no element creation is required.
Provisions Header
Lines under this header are partner elements created automatically when a Provision element is configured with Staff or Other as the provision type in the Expense tab. Map the relevant GL codes to these lines once they appear.
| Line | Appears When |
|---|---|
| Provision balance line | A Provision element set to Staff or Other provision type (Expense tab) |
Finance Header
The Finance header covers three distinct element types: Debtor Finance, Inventory Finance, and Loans Payable. Each has its own sub-header and different mapping behaviour.
Debtor Finance
An inbuilt Debtor Finance element exists in every Castaway file — only one can exist per model. Map your debtor finance facility GL code to this line — no element creation is required.
| Line | Appears When |
|---|---|
| Debtor Finance | Always present — inbuilt |
Inventory Finance
An Inventory Finance element is created by mapping the relevant GL code to the Finance header.
Creating an Inventory Finance element automatically generates the following partner lines. Map the relevant GL codes to these lines once they appear.
| Partner Element | Location |
|---|---|
| Inventory Finance (Interest) | Working Capital Finance header (Expense tab) |
| Inventory Finance (Charges) | Working Capital Finance header (Expense tab) |
Loans Payable
Loan elements are created by mapping loan GL codes to the Loans Payable sub-header. If a loan has been split between current and non-current in your accounting system, Castaway accommodates this through a specific mapping approach.
| Scenario | Mapping Approach |
|---|---|
| Single loan balance | Map to the Loans Payable sub-header to create the loan element |
| Loan split into current and non-current | Map the current portion to the Loans Payable sub-header. A partner line is automatically created under the Loans Payable (Non-Current) header beneath it for the non-current portion. |
Each Loans Payable element created automatically generates the following partner line. Map the relevant GL code once it appears.
| Partner Element | Location |
|---|---|
| Loan interest expense line | Interest Expense header (Expense tab) |
What's next...
Once the Liability tab is complete, proceed to Mapping: Equity