Can this PHP code to settle up payments be improved?

I've made a function that takes an array of amounts owed by each user_id and works out the best way to square everyone up. The input array would look something like this, but may consist of 1 or more "users" who all owe (or are owed) money between each other:

//the owings should sum to 0.
$owings = array(
    1 => -1.72, //user 1 owes -1.72
    2 => -5.78,
    3 => 7.5,
    );

And here is my function:

/**
* Calculate the most efficient way to settle up a group of payments
*
* @param array $owings
*/
function settleUp($owings){
    $reimbursments = array();
    $payment = 0.11; $i = 1;
    while ( $payment > 0.1 || $payment  $owing){
            if ($owing  $max) {
                $max = $owing;
                $max_id = $id;
            }
        }
        $payment = -$min > $max ? -$max : $min;

        if ($payment !== 0) {
            $reimbursments[] = array(
                'from'      => $max_id,
                'to'        => $min_id,
                'payment'   => -$payment,
                );

            $owings[$max_id] += $payment;
            $owings[$min_id] -= $payment;
        }
        $i++;
    }
        return $reimbursments;
}

The result looks like this:

//print_r(settleUp($owings));
Array
(
    [0] => Array
        (
            [from] => 3
            [to] => 2
            [payment] => 5.78
        )
    [1] => Array
        (
            [from] => 3
            [to] => 1
            [payment] => 1.72
        )
)

Currently I use a while loop that iterates until the net balance owed is close to 0. Is there a better way of doing this? Perhaps using a recursive function?

Well if you want to split hairs, you could do a couple of minor changes (commented below)

Honestly, I can't see any advantage in making it recursive, it works fine as it is

function settleUp($owings){
    $reimbursments = array();

// $i is never used
 //   $payment = 0.11; $i = 1;

// by using a do/while loop you don't need to assign $payment to a random value to being the loop
    do {
        $min = 0;
        $max = 0;
        foreach ($owings as $id => $owing){
            if ($owing  $max) {
                $max = $owing;
                $max_id = $id;
            }
        }
        $payment = -$min > $max ? -$max : $min;

        if ($payment !== 0) {
            $reimbursments[] = array(
                'from'      => $max_id,
                'to'        => $min_id,
                'payment'   => -$payment,
            );

            $owings[$max_id] += $payment;
            $owings[$min_id] -= $payment;
        }
  //      $i++;
    } while ( $payment > 0.1 || $payment < -0.1 );

    return $reimbursments;
}

StackExchange Code Review Q#44140, answer score: 2