Lending money to a client, team member, or even a family friend? That’s generous. But not keeping track of it? That’s risky.
Informal loans are often taken or lent without any tracking or documentation, leading to missed repayments, awkward follow-ups, and a whole lot of stress.
Good news? You don’t need to hire an accountant or build complicated spreadsheets from scratch.
Our guide brings you free IOU templates, making it easy to track informal loans with ease, clarity, and peace of mind. Let’s get tracking! 💰
Free IOU Templates to Track Informal Loans
What Are IOU Templates?
An IOU template is a simple, informal legal document used to record loans and repayment terms without the complexity of a formal loan agreement. I.O.U stands for “I Owe You”. And an IOU template includes key details such as the amount borrowed, due date, interest rate (if any), and the parties involved.
From casual loans to freelance payments, putting the terms in writing with an IOU template keeps expectations clear and misunderstandings out of the way.
📌 Remember This: Your IOU should be a simple, reliable document that explains how much is owed, when it will be repaid, and whether there are any terms like accrued interest or a lump sum payment expectation.
Best IOU Templates
Ready to make things official? Here are 21 easy-to-use IOU templates that help you document debt the right way:
1. Loan Agreement Template
The Loan Agreement Template is perfect for individuals or businesses needing a structured way to document lending or borrowing. It helps you record all critical loan details, from the loan amount and interest rate to payment schedules that suit both parties (weekly, monthly, annually, or custom).
It also includes sections like the borrower’s waiver, dispute resolution terms, and legal jurisdiction, to ensure the agreement is balanced and enforceable if things go sideways.
✅ Ideal for: Freelancers, small business owners, or anyone lending money and looking for a clear, trackable loan agreement without legal jargon
2. Simple Payment Agreement Template
Simple Payment Agreement Template simplifies one-time or recurring payments between two parties who want to avoid confusion and keep all terms documented from the start.
Built inside Docs, it clearly defines when payments are due and what happens if they’re missed to prevent disputes and keeps the involved parties on the same page. It also includes legal clauses like successor responsibility and jurisdiction to make the agreement more robust.
Within Docs, Tasks helps you assign follow-ups and track payment actions. You can also use recurring reminders to stay on top of due dates, making it easy to manage payments without manual tracking.
✅ Ideal for: Freelancers, coaches, or small businesses that want to simplify one-time or recurring payment agreements with clients
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3. Letter of Agreement Template
The Letter of Agreement Template helps freelancers, agencies, or small business owners document clear expectations in service agreements.
The template defines the project scope and payment terms upfront, ensuring both sides are aligned before work begins. You can note the preferred method and timeline for payments so that there is no guesswork or follow-up confusion later.
To ensure everything holds up legally, the template comes with built-in clauses for risk protection and flexibility, like indemnification and amendment terms, without making the document feel overwhelming.
✅ Ideal for: Contractors, consultants, or small teams entering a new business partnership or project, and wanting a quick, clear way to document terms.
🧠 Did You Know? The earliest known IOU in Britain dates back to January 8, A.D. 57, and was discovered among Roman writing tablets beneath Bloomberg’s London headquarters. This wooden tablet, inscribed in cursive Latin, serves as the first record of commercial activity in what is now London’s financial district.
4. Purchase Agreement Template
The Purchase Agreement Template is helpful for anyone who needs to formalize the buying or selling of goods, whether you’re in procurement, running a business, or managing solo sales.
It offers customizable space to add seller and buyer info, including company branding like logos, and describe exactly what’s being exchanged with item specs and photos.
It also lets you outline payment terms, such as the agreed price and how the money will be transferred. You can add your own conditions, and once both parties sign, you’ve got a clear, professional agreement on file.
✅ Ideal for: Freelancers, startups, or enterprises handling purchases, sales, or vendor deals that require clear, trackable documentation
5. Contractor Agreement Template
The Contractor Agreement Template is built for businesses, startups, and agencies working with independent contractors or freelancers. It helps you set up a legally solid agreement that defines the relationship, payment terms, scope of work, and more.
The template details contractor-client responsibilities, including what services are expected and how payments will be made. You can also build in clauses for longer-term clarity, like contract duration, renewal, and how to handle changes.
The final touches? A governing law section and space for both parties’ signatures to seal the deal.
✅ Ideal for: Businesses, agencies, and solopreneurs needing a legally binding document to hire contractors and freelancers for transparent business practices
6. Commercial Lease Agreement Template (Texas)
When handling commercial rentals, things can get unclear fast. Commercial Lease Agreement Template helps both landlords and tenants in Texas document their rental deal properly by clearly outlining terms and minimizing confusion.
This template packs several core lease details like the rent due date, security deposit, and occupancy limits. You can also document property details such as location and room count, giving landlords and tenants a shared reference point from day one.
It also covers practical lease situations many overlook, like what happens if rent is paid late, how move-in inspections are handled, or who’s responsible for damages. You can even set pet rules or add a compliance clause based on local laws to prevent disputes.
✅ Ideal for: Landlords or real estate professionals in Texas managing commercial properties and needing a customizable lease agreement
🧠 Bonus: With Brain, you can even automate clarity on this template. For example, simply prompt:
“What happens if the tenant fails to pay rent on time?”
Brain will instantly surface actionable insights from the template, like default procedures, legal rights, and penalty clauses, saving time and confusion.
7. Services Agreement Template
The Services Agreement Template helps freelancers and consultants clearly define the services they are providing and when payments are due. It helps outline the scope of work, set timelines, and ensure both parties stay aligned.
You can also leave notes or log updates along the way, creating a single source of truth for the agreement. Plus, it doubles up as a record keeper. So, if a client forgets what they signed up for (we’ve all been there 😅 ), you’ve got the agreement ready to revisit.
✅ Ideal for: Freelancers, agencies, and service providers who want to outline their work clearly and avoid scope creep
💡 Pro Tip: If you’re managing multiple client contracts, using contract management software alongside this template can help streamline updates, approvals, and version control.
8. Vendor Agreement Template
The Vendor Agreement Template is created for procurement teams, project managers, and business owners who need to formalize vendor relationships and set clear expectations.
Built for mutual accountability, it helps clarify pricing, delivery terms, responsibilities, and timelines. What’s more? You can manage multiple vendor agreements in one place, update them as needed, and even collaborate with internal teams during negotiations.
If you’re also tracking these transactions for accounting purposes, checking out a few general ledger examples can help you categorize vendor payments and maintain clean records.
✅ Ideal for: Small businesses and procurement teams managing vendor relationships and needing clear, reliable agreements from day one
Frequently Asked Question: Is a written IOU legal?
Answer: For an IOU to have legal weight, it should clearly state:
- The amount of money borrowed
- The borrower’s and lender’s names
- Repayment terms (like when and how payments will be made)
- Any interest installment amounts equal or lump sum payments expected
- Signatures of both the borrower and lender
9. Accounts Payable Template
The Accounts Payable Template is built for finance and operations teams that handle invoices across multiple vendors. It helps streamline invoice tracking and payment processing with clearly defined stages like receiving, captioning, routing, and verification.
The template includes essential fields to capture vendor details, payment types (like full or partial payment), and key invoice dates. You can also log amounts due and track task IDs and priorities for smoother payment processing.
Plus, with automated reminders and workflows, you’ll never have to chase a deadline again manually. Pair it with ’s expense report templates to obtain a clear view of outgoing cash and internal spending.
✅ Ideal for: Business owners, accountants, or anyone managing recurring payments who needs a reliable, trackable way to stay on top of outgoing cash
Want to streamline the invoice approval process even further? Watch this workflow automation tutorial to learn how to automate tasks, approvals, and reminders inside .
10. Rental Contract Template
Designed for residential use, the Rental Contract Template helps landlords and tenants create straightforward rental agreements without complex legal jargon. It covers basics like rent amount, lease duration, deposit, and property address, plus optional details like pre-payments and utility rules.
It also includes helpful sections on property use, inspections, and contract termination to prevent confusion later. Built in Docs, this template lets you assign follow-ups and store signed agreements in one place, which is ideal for managing multiple rental units smoothly.
✅ Ideal for: Independent landlords or small property managers who want a clear, professional rental contract that’s easy to manage and update
11. Freelance Invoice Template
The Freelance Invoice Template helps freelancers create polished, professional invoices fast, so you can get paid without the admin overload. This template includes customizable fields for client details, services, payment terms, and banking info to make getting paid easy.
Better yet, you can track every invoice in real-time, stay updated with notifications, and even organize multiple invoices with Table or List view.
And if you’re also keeping tabs on your overall finances, pairing this with personal balance sheet templates helps you get a clearer view of your cash flow.
✅ Ideal for: Freelancers and solopreneurs who want fast, trackable, and professional-looking invoices
12. Independent Contractor Invoice Template
The Independent Contractor Invoice Template helps you track your earnings with clear, detailed invoices without the mess of manual tracking.
This template makes it easy to include everything clients need: scope of work, hours, rates, taxes, and due dates. You can even break down services and expenses line by line, making your invoice crystal clear and dispute-proof while keeping tabs on any remaining payments.
If you often struggle with how to ask for payment professionally, this template also gives you the tools to stay firm and friendly simultaneously.
✅ Ideal for: Independent contractors handling multiple clients or projects who need a clean, reliable way to bill and follow up efficiently
13. I Owe You Template by Smallpdf
The I Owe You Template by Smallpdf is good for informal lending agreements between friends, family, or colleagues. It’s easy to complete and supports simple repayment terms like one-time or installment-based paybacks. You can also factor in interest or disbursement dates when needed.
Easy to fill and sign, it ensures both sides are aligned on terms without needing a formal contract and can also help track minor debts or monitor personal financial KPIs.
✅ Ideal for: Individuals needing a quick and easy IOU legal document for personal or informal use with no signups, no fuss
14. IOU Template by eSign
This IOU Template by eSign covers key repayment terms and due dates while offering extra legal weight through features like a borrower’s confession of judgment (where allowed).
You can finalize the agreement with digital signatures of the borrower, lender, and a witness, right on the eSign platform, making the process official and efficient.
✅ Ideal for: Individuals loaning money to friends, family, or colleagues, and want a simple, structured agreement with repayment details built in
15. IOU Template by PandaDoc
PandaDoc’s IOU Template is ideal for documenting structured personal or business loans. It supports flexible repayment schedules, optional guarantors, and lets you break down interest into equal installments across a set period.
There are clauses like joint liability, amendment rights, and governing law, making it a detailed IOU template.
✅ Ideal for: Anyone lending money who wants a flexible yet well-structured IOU agreement with optional legal elements like interest, cosigners, or installments
16. Personal Loan IOU Template by Template.net
Template.net’s Personal Loan IOU Template offers a clear and respectful way to document the exchange, whether it’s between friends, family, or peers.
It focuses on simplicity while keeping the record clean with key details like the loan amount and repayment deadline. It’s also a helpful tool if you’re figuring out how to organize finances and want a clean record of personal loans.
✅ Ideal for: Individuals lending or borrowing a large amount of money who want a clear and easy-to-fill agreement
17. Promissory Note IOU Template by Template.net
The Promissory Note IOU Template from Template.net combines the straightforward nature of an IOU with the legal structure of a promissory note, ensuring clarity, enforceability, and protection for both parties.
It outlines a 24-month repayment plan with an annual interest rate of 5%, a $50 late fee for overdue payments, and a prepayment clause that allows the borrower to pay off the loan early without penalty.
✅ Ideal for: Individuals or lenders offering formal loans with interest who want a documented, legally influential promise of repayment
18. Client IOU Template by Template.net
Template.net’s Client IOU Template is a customizable document designed to formalize loan agreements between borrowers and lenders. It includes sections for borrower and lender information, the principal amount, repayment terms, interest rate, agreement conditions, additional terms, and lender and borrower signatures.
The template makes it easy to describe the details of debt owed in simple language—how much is owed, by whom, and when the remaining balance payable is due.
✅ Ideal for: Business owners or freelancers extending credit or financial favors to clients and needing a client-branded IOU document that feels professional
💡 Pro Tip: For your loan, it’s a good idea to track the principal portion separately from the interest to avoid confusion. Principal is the original amount borrowed, and interest installment amounts equal the total interest divided evenly across the repayment period.
19. Rental Payment IOU Template by Template.net
The Rental Payment IOU Template by Template.net documents overdue rent between landlord and tenant with key fields including total rent due, original and new due dates, and late payment interest (5% per month).
Terms clarify that non-payment may lead to additional interest charges, and a signature section confirms borrower acknowledgment of debt and repayment conditions.
✅ Ideal for: Landlords and tenants dealing with delayed rent payments who want to clarify new terms in writing without escalating tension
20. Debt Acknowledgment IOU Template by Template.net
The Debt Acknowledgment IOU Template from Template.net is used to confirm an existing debt in writing.🧾 It includes basic fields like borrower and lender names, loan amount, contact info, and repayment timeline.
There’s also space for borrower and lender signatures and an optional witness, making it a handy way to put past verbal agreements or unpaid balances into writing without drafting a whole new loan contract.
✅ Ideal for: Anyone who has already lent money and now wants a written acknowledgement of the debt to document the agreement and repayment terms clearly
21. IOU Template by Wondershare
The Wondershare IOU Template is clean, well-structured, and suitable for both money and non-cash items like equipment, land, or other assets.
The template covers the essentials, such as names, amount owed, repayment method, and due date, while also offering extras like optional interest fields and legal notes. It’s more structured than a basic IOU but still easy to customize using any basic text editor.
✅ Ideal for: Individuals or small businesses wanting a flexible, downloadable IOU template that works for both money and non-monetary debts
What Makes a Good IOU Template?
A good IOU template keeps everything clear and prevents “Wait, what was the deal again?” moments.
Here’s what it must offer:
- Customization: Tailor fields for names, amount of borrowed money, due dates, and notes so that they suit any agreement
- Repayment tracking: Log every loan transaction, track payments, set reminders, and stay ahead of deadlines
- Reminders and checklists: Use templates that let you track follow-ups or recurring payments like a to-do list
- Collaboration: Share the document with all involved parties to avoid miscommunication
- Flexibility: Adjust repayment plans, amounts, or timelines on the fly, so no need to start from scratch
Basically, choose a template that’s simple yet thorough. Here’s a quick breakdown of the essential elements every good IOU template must include:
| Element of IOU | Why it matters? |
| Full names of both parties | Clarifies who’s lending and who’s borrowing 🧍♀️ |
| Exact loan amount | Avoids errors when written in both numbers and words 💸 |
| Date of transaction | Records when the loan was issued 📅 |
| Repayment date or schedule | Sets a clear repayment schedule, whether it’s a one-time paymen or recurring ⏳ |
| Repayment terms | Specifies if it includes interest 🧾 |
| Signatures of both people | Adds a layer of legal and mutual trust ✍️ |
| Editable and accessible format | Makes it easy to reuse, update, or share digitally 📱 |
Track Informal Loans The Right Way With
Loaning money without documentation can lead to confusion, or worse, lost trust. Whether it’s a small favour or a serious agreement, having the right IOU template can save you stress later.
gives you an organized, flexible way to manage all kinds of loan-related documents. From simple payment agreements to detailed vendor contracts, there’s a template for every situation. And the best part? You don’t need to be a legal expert to use them.
So go ahead, pick the template that fits, fill it out, and share it with confidence. ✅
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