欠款 (qiàn kuǎn) literally combines 欠 (to owe, to be short of) and 款 (funds, payment, or money). Together, it means 'outstanding payment' — money that is owed but has not yet been paid. It is a formal, neutral term commonly used in financial, business, and legal contexts, such as invoices, contracts, or debt collection notices.

The word implies a clear creditor-debtor relationship and often carries an expectation of repayment by a specific time. Unlike casual terms like 欠钱 (qiàn qián), which simply means 'to owe money', 欠款 emphasizes the unpaid amount itself as a quantifiable sum — for example, on a bill or statement. It can refer to personal debts, business receivables, or institutional arrears, and frequently appears in written communication rather than informal speech.