Frequently Asked Questions
How do I create a contract with a friend?
Tap the "+" button to create a new contract. You can either create a shared contract by inviting a friend or create a Solo contract for tracking debts independently.
How does the balance calculation work?
iOweYou automatically calculates the balance between you and your contract partner. Add 'Owe' entries for money you borrowed and 'Receive' entries for money you lent. The app tracks the net balance in real-time.
What's the difference between proposed and confirmed debts?
When you add a debt entry, it starts as "proposed." Your contract partner needs to confirm it before it affects the balance. This ensures both parties agree on every transaction.
How does the Settle-Up feature work?
When you're ready to settle debts, use the Settle-Up feature. Both partners acknowledge the final balance, and the app creates an archived statement of all settled debts. The balance automatically resets to zero, and any disputed deals roll over to the new statement.
What's a Solo contract?
Solo contracts let you track debts independently without needing another person to confirm entries. This is perfect for personal record-keeping or tracking debts with people who don't use the app.
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