Overview
To track a small or informal loan to or from someone else, we recommend adding the loan as an Asset (if lending to someone else) or a Debt (if borrowing from someone else) via the Net Worth report (Reports > Net Worth), and then updating the loan balance over time — either manually, or automatically using budgets, depending on how repayments happen.
This is particularly useful if there is no specific loan account associated with the loan, as you would have with a bank. Assets and Debts differ from bank accounts in PocketSmith in that they don't contain transactions, and their balance is updated either manually (useful for irregular repayments) or automatically by budgets (for regular repayments). You'll also need to categorise and create budgets for any related transactions in your regular bank accounts (such as the initial loan amount or repayments). For detailed steps on managing an unlinked loan, either as the lender or borrower, check out the guides linked below.
Tracking a loan to someone else
If you want to track funds you’ve lent to someone else, you can add the loan as an Asset, as the money is owed to you, and follow the detailed steps outlined in Tracking small loans in PocketSmith: Loan to someone else
Tracking a loan from someone else
If you want to track funds you’ve borrowed from someone else, you can add the loan as a Debt, and follow the detailed steps outlined in Tracking small loans in PocketSmith: Loan from someone else