Change loan type

A loan goes one way and closes when it is paid back. A running balance is one balance with one person. Money can go either way, and it never closes.

Change a loan when money now moves both ways. For example, a friend lent you money, you are paying it back, and next month you may lend to them.

On a shared loan, the button says Ask and the other person's name instead. What happens then.

Every entry stays, with the same dates and amounts. Money you received is now called You got, and money you paid back is You gave. Your accounts, your categories and Left to assign do not change.

From then on, the balance can go past zero. If you pay back ₹35,000 on the ₹30,000 you owe, your friend owes you ₹5,000. At zero the page says All square, and the balance stays open.

If the loan had an interest rate or an end date, they are removed, and so is its EMI schedule. A loan that was closed opens again.

A running balance holds only money you gave and money you got. So you can't change the loan type if any repayment has interest in it, or the loan has Interest accrued, an Adjustment, or was Written off. The window says which one, and the button stays grey.

Keep it as a loan. For money from now on, add a new running balance with the same person.

When you share a loan, you both keep the same loan, so both copies must be the same type. Pressing Ask sends the other person a request. Nothing changes on either side until they answer.

While you wait, your loan's page says so. Press Details there to take the request back.

If they keep it a loan, press What now on your loan's page. You can Ask again. Or press Unlink and change: the loan stops being kept in step, you both keep every entry, and only yours becomes a running balance.