Debt Tracking in Expensely Pro – Log What You Owe and What You're Owed
Untracked debts accumulate silently. A loan to a friend with no clear date, a credit card balance ignored, a payment someone owes you that keeps getting pushed back — without a clear record, these create cash flow problems and relationship friction. The debts section keeps every obligation in one place with a full repayment history.
What the Debts Section Does
Here you record every debt — whether you owe it or someone owes you. For each debt you store: the other party, the original amount, the remaining balance, the due date, the linked account, and a repayment schedule. When you log a partial payment the remaining balance updates immediately and a full history of every payment is recorded.
The app links each repayment to the correct account so your balance and debt figures stay consistent across all screens.
Why Debt Tracking Matters
Most cash flow problems are not caused by overspending alone — they are caused by unmanaged debt. A credit card at its limit looks like £500 available but it is actually a liability. A loan to a friend with no repayment date becomes invisible on your balance sheet.
Tracking debts gives you an honest view of your net position and alerts you before a repayment is due. Read the full strategy in the guide to getting debt under control.
How to Log a Debt – Step by Step
- Open the Debts section from the main menu.
- Tap "Add Debt" and choose the type: money you owe or money owed to you.
- Enter the details: name of the other party, full amount, and linked account.
- Set a repayment schedule: a specific date, a monthly amount, or a share of income.
- Enable the reminder to be notified a few days before the due date.
- When a payment is made: tap "Log Payment" — the remaining balance deducts and the account updates.
Practical Examples
- Friend loan: log the amount with a weekly reminder. Each partial repayment is recorded with a date and the balance reduces.
- Credit card: add it as a debt with the current balance and a minimum monthly payment. Track progress toward zero.
- Mutual debts (you owe and are owed): create two separate records to keep the figures clean in reports.
- Short-term debt: link it to a daily or 3-day review schedule to see fast progress in the weekly report.
Common Debt Management Mistakes
- Not tracking small debts: £50 here, £80 there add up to £300+ unaccounted for. Log everything.
- Mixing debt repayment with regular expenses: when you pay a debt from your account it is a debt payment, not an expense. Use the correct log type to keep reports accurate.
- No due date on open loans: a debt without a deadline has no priority — and no accountability.
- Ignoring low-priority debts: small debts with no tracking drain mental energy far beyond their monetary value.
Frequently Asked Questions
Can I log more than one payment for the same debt?
Yes. Every payment is recorded with its date and amount. The running balance updates after each one and you can review the full payment history at any time.
What do I do when a debt is fully repaid?
Change its status to "Closed". It stays in the archive with the full payment history for future reference.
Can I share a debt record with the other party?
The record is private to your account. You can take a screenshot of the debt details screen or export a summary to share externally.
Do debt repayments affect my budget figures?
Repayments are logged as transactions linked to the account, so they appear in reports. This gives you an accurate picture of the true monthly cost of carrying debt.
Can I track a debt in a foreign currency?
Yes. Log the debt in the currency it was incurred in. The app does not force a single currency.