Creditor accounts

Manage financial accounts for external lenders, informal creditors, or parties providing short-term financing.

01 Creditors Dashboard

The Creditors tab allows you to track entities or individuals that your business owes money to outside of standard inventory vendors.

Main Table: Displays each creditor's "Name", "Phone", "Balance", and "Actions". If no creditors exist, the table displays a "No data" empty state.
Search & Filters: Utilize the search bar or the "Filters" menu to refine the list by "Tags", "Min Balance", or "Max Balance".
Column Customization: Click the "Columns" button to toggle visibility for fields like "# (Serial Number)", "Email", "Address", and "Tags".

Click the + Create Creditor button to add a new lending party.

Basic Info: Enter the required "Name" (e.g., "Mussab") and "Phone" number.
Opening Balance:
- Define the initial financial state of the account.
- Select We owe them (Payable) if the business is starting with existing debt, or They owe us (Advance) if you have overpaid or extended an advance (the system will show a helper text like "They owe you PKR 100,000 (Advance/Overpayment)"). Enter the PKR amount.
Contact Details: Optionally provide an "Email" and physical "Address". (Note: Unlike Customers or Vendors, Creditors do not require a Credit Limit).

Click Create to initialize the account.

You can modify a creditor's contact details by clicking the pencil icon in the Actions column.

The "EDIT CREDITOR" modal allows you to update the "Name", "Phone", "Email", and "Address".
As with all account types, the "Opening Balance" cannot be changed after the initial creation to ensure accounting records remain pristine.

Loan Tracking: Recording a business expansion loan from a commercial bank and tracking the remaining principal balance outside of normal vendor accounts.
Equipment Financing: Managing the liability of leased heavy machinery or vehicles where the debt is owed to a non-trade financial institution.

Informal Loans: If the business borrows short-term funds from a third party who is not a standard inventory vendor or a bank, setting them up as a Creditor allows you to track the exact payable balance.
Overpayments: If you accidentally overpay a creditor, the "They owe us (Advance)" opening balance accurately reflects that they are temporarily holding excess funds that belong to the business.

Manage financial accounts for external lenders, informal creditors, or parties providing short-term financing.

The Creditors tab allows you to track entities or individuals that your business owes money to outside of standard inventory vendors.

Main Table: Displays each creditor's "Name", "Phone", "Balance", and "Actions". If no creditors exist, the table displays a "No data" empty state.
Search & Filters: Utilize the search bar or the "Filters" menu to refine the list by "Tags", "Min Balance", or "Max Balance".
Column Customization: Click the "Columns" button to toggle visibility for fields like "# (Serial Number)", "Email", "Address", and "Tags".

Click the + Create Creditor button to add a new lending party.

Basic Info: Enter the required "Name" (e.g., "Mussab") and "Phone" number.
Opening Balance:
- Define the initial financial state of the account.
- Select We owe them (Payable) if the business is starting with existing debt, or They owe us (Advance) if you have overpaid or extended an advance (the system will show a helper text like "They owe you PKR 100,000 (Advance/Overpayment)"). Enter the PKR amount.
Contact Details: Optionally provide an "Email" and physical "Address". (Note: Unlike Customers or Vendors, Creditors do not require a Credit Limit).

Click Create to initialize the account.

You can modify a creditor's contact details by clicking the pencil icon in the Actions column.

The "EDIT CREDITOR" modal allows you to update the "Name", "Phone", "Email", and "Address".
As with all account types, the "Opening Balance" cannot be changed after the initial creation to ensure accounting records remain pristine.

Loan Tracking: Recording a business expansion loan from a commercial bank and tracking the remaining principal balance outside of normal vendor accounts.
Equipment Financing: Managing the liability of leased heavy machinery or vehicles where the debt is owed to a non-trade financial institution.

Informal Loans: If the business borrows short-term funds from a third party who is not a standard inventory vendor or a bank, setting them up as a Creditor allows you to track the exact payable balance.
Overpayments: If you accidentally overpay a creditor, the "They owe us (Advance)" opening balance accurately reflects that they are temporarily holding excess funds that belong to the business.