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Lent money to someone
Add a loan and choose I lent it out. The money leaves a category now, and goes back to that category as it is repaid.
Adding the loan
When you hand the money over
- Open Loans and press Add a loan.
- Choose I lent it out. Enter the amount, and the name under Who did you lend it to?
- Leave The money has already changed hands ticked. Choose the account it was Paid from, and the Category it comes out of.
- Press Add loan.
Lending moves money out of your budget, so Ahead asks which category pays for it. Many people use Savings, or keep a category called Lending.
What happens in Ahead
| What happens | Your bank | Savings category | Owed to you |
|---|---|---|---|
| Before | ₹60,000 | ₹30,000 | ₹0 |
| You lend ₹10,000 to a friend | ₹50,000 | ₹20,000 | ₹10,000 |
| They pay back ₹4,000 | ₹54,000 | ₹24,000 | ₹6,000 |
| They pay back the last ₹6,000 | ₹60,000 | ₹30,000 | ₹0 |
Before
- Your bank
- ₹60,000
- Savings category
- ₹30,000
- Owed to you
- ₹0
You lend ₹10,000 to a friend
- Your bank
- ₹50,000
- Savings category
- ₹20,000
- Owed to you
- ₹10,000
They pay back ₹4,000
- Your bank
- ₹54,000
- Savings category
- ₹24,000
- Owed to you
- ₹6,000
They pay back the last ₹6,000
- Your bank
- ₹60,000
- Savings category
- ₹30,000
- Owed to you
- ₹0
The money is not spent, only away for a while. So as it comes back it goes to the category it came from, not to Left to assign.
When they pay you back
Each time some comes back
- Open Loans and press the loan.
- Press Add an event and choose Repayment.
- Enter the amount under Principal. Choose the account it was Received into, and the Category it goes back to.
- Press Repayment.
If they pay you interest too, enter it under Interest. Interest is new money, so it goes to Left to assign, not to the category.
Lending more, or never getting it back
If you lend more later, press Add an event on the loan and choose Lend more.
If it will never be repaid, choose Write off. The loan closes, and your net worth goes down by what was still owed. No category changes.
When everything is paid back, the loan closes. To lend again on the same loan, open it and press Reopen. If money goes both ways with this person, a running balance is easier.
Read next
- Money going both ways with a friendAdd a running balance. Record each time you give or get money, and Ahead keeps one balance that shows who owes whom.
- Sharing a loan with the other personIf the other person uses Ahead too, you can both keep the same record of the loan. Anything either of you records waits for the other to agree before it goes on their books.
- Borrowed from a friend: loan or liability?Add it as a loan, even if there is no schedule and no interest. Then you can record each repayment, and Ahead shows what you still owe.
Still stuck?
Write to us and a person answers. If you use Ahead, Support in the app is quickest.