Debt Overview

Debt accounts in Common Cents have their own setup rules, payment flows, and account actions. That keeps balances, payment categories, and payoff work from getting mixed up with ordinary spending or simple transfers.

In this section #

• Debt Account Types: Set up credit cards, loans, and mortgages with the right account type and fields.
• Revolving Debt Transactions: Record credit card purchases and refunds, and understand how they affect both your spending category and the linked debt payment category.
• Debt Payoff Planning: Record debt payments, apply interest when needed, and understand the debt-specific actions on the Accounts page.

Why debt gets special treatment #

Common Cents does not treat debt like a normal transfer destination. Debt accounts can create payment categories, use special payment forms, show debt-only actions, and in some cases connect to fixed assets.

Before you create a debt account, turn on the matching feature in Settings > Features:

• Enable Revolving Debt Accounts (Credit Cards / LOC)
• Enable Installment Debt Accounts (Loans)

If you are starting from scratch, read Debt Account Types first, then Revolving Debt Transactions if you use credit cards or LOC accounts, and then move to Debt Payoff Planning to learn how to make payments and track payoff progress.