How do I track debts?
There are several ways to do it, and the best is the following:
1. Create a new expense category “Money lended”.
2. Create a transaction “Asset Purchase”, assing it to the “Money lended” category. Your new asset can be called “Debts”, and in the description field you can name the person who you lended the money. Simultaneously you may choose that person as the Agent.
3. When your money returns back to you, you make a new Transaction “Asset Sale”, create another category “Debt return” and save the transaction.
This way you can always see how much money you have lended (and to who), and analyze it in the reports and relevant categories.
