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IOU Tool is a web application that helps you keep track of the money friends owe you and the money you owe friends. You start by signing up for a new account on the website, then sign in and begin adding entries of the money owed. You can add money to the section where they owe you money or you owe them. You can add entries and categorize them as money or as a specific thing.

For money, you can add amounts, currency, and comments. You can also type in the name of friends who owe that amount to you. The date the money was owed or payment was made, can be recorded in the entry. You can also set a due date for the amount that needs to be paid back to you.

There are handy options that divide the money equally among friends and let you repeat the payment after a specific period. Once the entry is added, the money is shown alongside each friend’s name. You can click on a friend’s name to read all of their entries.

friends owe money

In the preferences of the application you can set up reminder notifications a set number of days before the due date of a payment. The website also offers smartphone applications for Android, Windows Phone, and iOS devices.

ioutool

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These are all features offered by the free package of IOU Tool. The premium version costs $2.49 and offers features such as Excel reports, data export, removed ads, and developer support.

Features:

  • A user friendly web service.
  • Lets you keep track of money people owe you and money you owe them.
  • Supports reminder notifications before due date of payments.
  • Offers smartphone applications.

Check out IOU Tool @ http://ioutool.net

  1. Sergey Tubin
    April 18, 2013 at 10:49 am

    Thanks for a review! I hope it will be useful for your readers.

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