How To Track Debts

You can track debts in MoneyCoach by recording the original money movement with a debt category and assigning the person or business as the Payee. Later, record repayments with the same payee so reports can show the history in one place.

TL;DR

• Use a debt-related category when money is lent or borrowed.
• Add the person as the Payee.
• Record repayments with the same payee.
• Review the payee in reports to see the related history.

Step-by-step guide

1. Tap the floating + button to add a new transaction.
2. Choose Expense if you lent money to someone.
3. Enter the amount.
4. Select a debt-related category or create one in Manage Categories.
5. Tap the description/details button.
6. Add the person as the Payee.
7. Add a clear description, such as Loan to John for concert tickets.
8. Tap Done.
9. Tap Save.

Record a repayment

When the person pays you back:

1. Tap the floating + button.
2. Switch the type to Income.
3. Enter the repayment amount.
4. Select a repayment category, such as Debt Repayment.
5. Add the same Payee.
6. Save the transaction.

Using the same payee on both sides keeps the debt history easier to review.

Review debt history

Open reports and review the payee related to the debt. The payee history shows the transactions connected to that person, which makes it easier to see what happened and whether the debt has been repaid.

You can use the same structure for money you owe someone else. In that case, record the borrowed money and the repayment with clear categories and the same payee.

Common mistakes

• Tracking the loan without a payee, which makes it harder to find later.
• Recording repayments under a different payee spelling.
• Mixing debt repayments with normal income.
• Forgetting to add a note that explains what the money was for.

Additional information

For larger debts, loans, or property-related liabilities, see How To Manage Property Loans. For richer transaction metadata, see How To Add Description, Tags & Payee To Transactions & Transfers.