> ## Documentation Index
> Fetch the complete documentation index at: https://help.finerd.ai/llms.txt
> Use this file to discover all available pages before exploring further.
# Track debts
> Track money you lent or borrowed in finerd: add the person or company, record loans and repayments, see who owes whom, and write off or archive a debt.
Track a debt in finerd to see at any moment how much a person or company owes you, or how much you owe them. Each of them gets a debt account, and every loan and repayment you record changes its balance.
Debts are free in a Personal space and work on the web, Android and iOS. **Write off** is on the web and Android only. In a Business space, writing off, archiving and deleting a debt need Pro and are for the space owner.
How debts work in finerd
A debt account stands for one person or company. Its balance shows the direction:
* **Owes me**: they owe you.
* **I owe**: you owe them.
* **No debt**: you're even.
Example: Sam Rivera already owes you \$100 when you start using finerd. You lend Sam another \$50, so the balance reads **Owes me** \$150. Sam pays back \$120 in cash, and it reads **Owes me** \$30.
A debt holds one currency. If a loan or repayment is in another currency, finerd converts it into the debt's currency.
To split a bill with someone so that their share becomes a debt, see [Split a transaction](/transactions/split-transaction#other-parts). If the person also uses finerd, you can also share a debt with them so that it appears in their records; see [Settle up with people](/debts/settle-up-with-people).
Add a person or company you have a debt with
Add the person or company once. If they already owe you, or you owe them, enter that amount as the starting balance; if you're even, skip it and record loans as they happen.
1. Open **Accounts** and select **Add account**, then **Debt**.
2. In **Select or create debtor**, type the name and select **Add “…” debt account**. To track a debt with a company, you can also choose it from the list.
3. Select **Continue**.
4. In **Set current balance**, choose **Owes me** or **I owe** and enter the amount. Change the currency if needed. Then select **Continue**, or **Skip** if you're even.
5. Select **Save**.
1. Tap **More**, open **Accounts** and tap **+**, then **Debt**.
2. In **Select debtor from contacts**, type the name and tap **Add "…" debt account**, or pick someone from your phone contacts.
3. Under **Debt amount**, tap the amount, choose **Owes me** or **I owe** and enter what's owed today. Leave it at 0 if you're even.
4. Tap **Save**.
1. Open **Accounts** from **More** or the tab bar and tap **+**, then **Debt**.
2. In **Select debtor from contacts**, type the name and tap **Add “…” debt account**, or pick someone from your phone contacts.
3. Tap **Continue**.
4. In **Who owes who**, choose **Owes me** or **I owe**, enter the amount and tap **Continue**, or tap **Skip** if you're even.
5. Tap **Save**.
The person or company appears under **Debt** in **Accounts**. The starting amount is saved as the debt's initial balance, not as a loan. A company from finerd's merchant list keeps its name and logo. You can also [change an existing account to **Debt**](/accounts/create-account#change-account-type), but that can't be undone.
Record a loan or a repayment
Every time money changes hands, add a **Debt** transaction. Its direction tells finerd which way the money went:
| What happened | Web and Android | iOS | Balance |
| - | - | - | - |
| You lend money | **Pay to** | **I gave** | **Owes me** grows |
| You pay back what you owe | **Pay to** | **I gave** | **I owe** shrinks |
| You borrow money | **Receive from** | **I received** | **I owe** grows |
| The person pays you back | **Receive from** | **I received** | **Owes me** shrinks |
1. Select **Add transaction**, then **Debt**. To skip choosing the person later, open their debt account in **Accounts** and select **Add transaction** there.
2. In **Specify your debt direction**, choose **Pay to** or **Receive from** and enter the amount. Select **Continue**.
3. In **Who did you pay?** or **Who paid you?**, choose the person. To add someone new, type the name and select **Add “…” debt account**.
4. Check your account in **From** or **To**: finerd fills in the one you used last. Select it to choose another, such as your cash.
5. Select **Save**.
1. Tap **+**, then **Debt**.
2. In **Specify your debt direction**, choose **Pay to** or **Receive from** and enter the amount. Tap **Continue**.
3. In **Who did you pay?** or **Who paid you?**, choose the person, or tap **+** to add someone new.
4. Check your account in the transaction and tap **Save**.
1. Tap **+**, then **Debt**. You can also tap **+** on the person's debt account to skip choosing them later.
2. In **Specify your debt direction**, choose **I gave** or **I received** and enter the amount. Tap **Continue**.
3. In **Who did you pay?** or **Who paid you?**, choose the person, or tap **+** to add someone new.
4. Check your account in the transaction and tap **Save**.
On the web and iOS, when you pay someone, **Notify about debt** under their name is selected and the button reads **Save & Notify**. If you don't want finerd to notify them, select **Notify about debt** to turn it off.
You can also put the person in **From** or **To** of any transaction: they're under **Debts & Reimbursements**. For example, when you pay a restaurant bill and a friend owes you half, [split the transaction](/transactions/split-transaction#other-parts).
See who owes whom
Open the person's debt account from **Accounts**. Its balance reads **Owes me**, **I owe** or **No debt**; on the web and iOS, with the person's first name. Below it are the last transactions with them.
In **Accounts**, debts are grouped under **Debt**.
The balance is at the top of the debt account: green when you're owed, orange when you owe. In **Accounts**, money owed to you counts under **Assets** and money you owe under **Liabilities**.
The balance is under **Balance** in the debt account. In **Accounts**, each debt shows **Owes me** or **I owe** with the amount.
The balance is under **Balance** in the debt account. In **Accounts**, each debt shows its amount, with **Owes me** or **I owe** under it.
Write off a debt
Write off a debt when it won't be paid back, for example if you decide to forgive the last \$30. finerd adds one transaction for the whole remaining balance, so the balance becomes **No debt**. The transaction goes to one of your categories, which finerd chooses (in the example, **Miscellaneous**); its description is **Debt closure adjustment**. Open it to choose another category. The person stays under **Debt**, so you can record new loans later.
Write off is on the web and Android. If the balance is already zero, there's nothing to write off.
1. Open the debt account and select **⋮**, then **Write off / Archive**.
2. In **What would you like to do?**, select **Write off**.
1. Open the debt account and tap **⋮**, then **Write off / Archive**.
2. Tap **Write off**. When it's done, finerd shows **Transaction created on** with the date.
The iOS app has no **Write off**. Write the debt off on the web or in the Android app.
Archive a debt
Archive a debt you no longer want to follow. finerd sets the balance to zero with a [balance correction](/verified-balance#review-a-discrepancy), which isn't an expense or income, and hides the person from **Accounts**. Their transactions stay as they are. If the debt changed in the last few hours, the balance can stay as it was, so check it in the archive afterwards.
1. Open the debt account and select **⋮**, then **Write off / Archive**.
2. Select **Archive**. It runs at once, without a confirmation.
To see archived debts, select **⋮** at the top of **Accounts**, then **Show archive**.
1. Open the debt account and tap **⋮**, then **Write off / Archive**.
2. Tap **Archive**. It runs at once, without a confirmation.
1. Open the debt account and tap **⋮**, then **Archive**.
2. In **Archive debtor?**, tap **Archive**.
To bring a debt back, open it from the archive and choose **Unarchive** in its menu. The balance stays as it was in the archive. If something is still owed, add a [verified balance](/verified-balance#add-a-verified-balance) to the debt with that amount; a **Debt** transaction would also change your own account.
**Delete** in the same menu permanently deletes the debt account together with all its transactions. To keep the history, archive the debt instead.
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