💸 Loans & Debt Tracking

Running a business often involves informal lending—whether you are giving an advance to an employee, lending cash to a neighboring shop owner, or taking a short-term micro-loan from a friend to buy inventory.

The Loans module in Vaaniz is a dedicated ledger to track exactly who owes you money, and who you owe money to, completely separate from your regular customer and supplier sales.

1. The Loan Dashboard

When you open the Loans screen, the top of the dashboard gives you an instant summary of your outstanding debts:

• Total You Owe (Red): The total amount of money you have borrowed and still need to pay back.
• Total Owed to You (Green): The total amount of money you have lent out to others that has not been returned yet.

Below the summary, you will see a list of all active and settled loans, color-coded for quick scanning.

2. Recording a New Loan

To log a new debt, tap the floating "+" button at the bottom right of the screen.

Step 1: Select the Loan Type

• I Gave Money (Lent): Use this if you are giving a salary advance to a staff member or lending cash to a friend.
• I Took Money (Borrowed): Use this if you are borrowing money from a bank, friend, or investor to fund your business.

Step 2: Enter the Details

• Amount: The total principal amount being lent or borrowed.
• Person / Bank Name: Who is the money going to or coming from? (e.g., "John - Staff Advance" or "HDFC Business Loan").
• Note: A brief description of why the loan was made.

Step 3: Link to Your Bank (Optional but Recommended)

If the money was transferred digitally, select the Bank Account involved. Vaaniz will automatically deduct (if you gave money) or add (if you took money) this exact amount from your Cash/Bank Ledger, keeping your overall accounting perfectly synced!

3. Repaying & Settling Loans

When it is time to collect your money or pay back a debt, Vaaniz makes it easy to track partial or full repayments.

1. Tap on the active loan from the dashboard to open its details.
2. Tap the Record Payment / Settle button.
3. Enter the amount being paid right now. (You can enter the full remaining balance, or just a small installment).
4. Select the payment method/bank account used for the transaction.
5. Tap Confirm.

Vaaniz will automatically update the remaining balance of the loan and adjust your bank ledgers accordingly. Once the balance hits zero, the loan will be marked as "CLEARED".

4. Editing & Deleting

If you made a mistake while creating a loan, you can easily remove it.

1. Open the loan details and tap the red Delete button.

Note: Deleting a loan will also reverse the original bank transactions associated with it, ensuring your cash ledgers remain accurate.