In the Finnish accounting system the balance sheet group 'vastattavaa' includes both Liabilities and Shareholders' Equity, so if the co-text doesn't include further specification of which group the account in question belongs to, I'd elaborate in this point and write down them both. But if a specific account is named, I'd use whichever group it belongs to f.ex. "The account Notes Payable is recorded in the balance sheet group Liabilities."