An I Owe You (IOU) slip or letter is created as a written agreement or promise to pay back an individual for a favour that was fulfilled. IOUs were originally produced for repayment on borrowed sums of money between two different parties. However, IOUs can also be created to complete favours as a gift for a mom on Mother's Day or for a friend on her birthday. IOU documents and letters can be made at home on a computer using word processing software, and then be printed on plain paper or card stock.
Launch the word processing software and create a new document.
Type the letters "IOU" at the top of the sheet. Highlight the text and make it bold. Click the font size drop-down menu and select 14 point text. Center the IOU text.
Press "Return" or "Enter" four times. Press "Shift" + "Hyphen" make a horizontal line for a signature. Press the "Space" bar four times and create a "Date" line next to the "Signature" line to document the date that the IOU was issued.
Save the IOU template.
Print the IOU template. Sign the IOU to make the document official, and place it in an envelope to prevent it from damaging.
Witness signatures can be added to IOUs for the repayment of money.