Managing Loans in a better way

1

I use Manager to mange my personal finances and expenses.
Along with managing my expenses I regularly give and take short-term interest-free loans to close relatives.
I would like to view each loan as a separate item, so that I can keep track of how much is payable or receivable (similar to a Sale/Purchase invoice, which when tagged to a Payment/Receipt, shows how much was paid, when and how much is pending).

  1. I initially created a Purchase Invoice for a Loan i needed to pay, and a Sales Invoice for a loan receivable. Although it helps me with managing the balance of that loan, it shows incorrectly in the balance sheet.

  2. I then tried to creat a loans payable and loans receivable in the chart of accounts liabilities. And then make payments and receipts. But this doesn’t help me track the individual loan.

Is it possible to do this?
What is the correct way to do this?

2

Use Special Accounts tab for this.

3

Thanks. This works well.
Since I can re-name “Special accounts” to “Loan”.
Is there any way to have multiple MAIN “Special Accounts” (not the multiple accounts within the Special Accounts).

4

Yes. Use Control Accounts.

See: https://www.manager.io/guides/control-accounts

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