iOS App Support: Who Owes What

IOU User Guide

Getting Started

The IOU application is designed to track back and forth (I pay for this, you pay for that) transactions with one or more friends over time. Each set of transactions with one person is known as an IOU thread. To begin tracking who paid for what and who owes what with someone, simply click the add (plus sign) button on the main IOU screen. On the page that appears, select the person with whom you will track IOUs. You may scroll through your contacts, search your contacts or enter a name that is not in your contacts. To use a name not in your contacts, enter the name in the search bar and touch the Next button in the keypad.

Whichever method you use to select someone, answer Continue when prompted to create a new IOU thread with that person. You will then be prompted to enter information for the first transaction: change the date if the current date is incorrect; enter the amount that was paid and whether you paid (Lend) or the other person paid (Borrow); optionally, enter some note to remind you what was paid for. When all information has been entered, touch Done, and you will be returned to the main IOU screen. On this screen you will now see the thread you just added and the amount you currently owe to or are owed by that person.

New in version 1.1: you may select the currency symbol to be used throughout the IOU module. This is a global display change; it does not affect any calculations, and there are no currency conversions. You may also select to use no symbol. The program will attempt to pre-select the proper currency for your location.

Tracking Who Owes What

The main IOU screen shows all active IOU threads and the amount owed to or by each person. At the bottom of the screen is displayed the net sum of all your transactions with everyone. To add a new transaction (lend or borrow) with someone or view all past transactions with someone, select that person/thread in the table.

Note that it is possible to maintain multiple threads with one person, if for some reason you need to track something specific separately. However, normally you would only have one thread with each person that you borrow from or lend to and track all transactions with that person over time. You can go back and forth, paying for some things and letting a friend pay for other things, over weeks or months.

When you select a person/thread, you will see a table listing everything you borrowed or lent to/from that person. If necessary, you may select any of those transactions and correct anything entered incorrectly or add an explanatory note. The next time you borrow or lend something from/to this person, click the add button at the top of this screen and enter the information for this transaction when prompted. When you are done, you will see this new item in the table of transactions for this IOU thread.

To keep your friend in the loop, at any time you may use the e-mail button on the bottom of that person's thread screen to send them a message listing all your transactions with them and who currently owes whom what amount.

Resolving Debt

When you wish to zero out your IOU thread with someone, use the Resolve button on the bottom of their thread screen. A dialog will appear explaining who has to pay how much to whom in order to close out this thread. Do not do this until you or your friend actually are ready to pay the amount required to close out, as this process cannot be undone.

Once you have confirmed that you wish to resolve a thread, that thread will be archived and can no longer be changed. You may view any threads that are closed out by touching the History button on the main IOU screen. The History view will display a summary of each closed out thread (the person it was with and when it was zeroed out). Select any thread to view all the transactions and the final amount paid to close it out. You may e-mail the details of a zeroed out thread just like you would an active thread.

If you later lend or borrow something to/from that same person, add a new IOU thread with that person, and begin the whole process again.

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