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Balances, Smart Settle and Clear Balance
When Members split transactions, Folko keeps Balances: who owes whom, in each cashbook. Folko never moves money. It records payments made in your bank or payment app.
Split a transaction
In a shared cashbook, choose who paid under Paid by, then turn on Split. Equal gives everyone an Equal Share. For a Custom Share, choose By amount or By %; the parts must add up to the total. Equal share evens it out again.
Clear a balance
- Open Balances from the Home dock, or a cashbook’s Balances tab.
- Tap Run Smart Settle to see the fewest payments that clear everything.
- If you owe, Pay via lists the payment apps the other person added. Pay there, then tap I paid.
- If you are owed, tap Record payment when the money arrives, or Clear Balance in the cashbook.
Power-user tips
- See by person on Balances shows what each person owes you, or you owe them, across all your shared cashbooks.
- Recorded the wrong payment? Open the cashbook’s ⋯ menu, then Settlement history, and tap Void.
- Share a settle link with someone who owes you. It shows them how to pay you, without the app, and expires after 14 days.
- In a cashbook’s Balances tab, the person who is owed can also Forgive a debt.
Balances, Smart Settle and settling are free on every plan. Sending automatic Payment reminders needs Plus or Max; receiving them is free, and you can opt out.
Still stuck? Email support@folko.io or see Support. A person from the Folko team will answer.