diff --git a/src/libs/ReportUtils.ts b/src/libs/ReportUtils.ts
index 060b1911605e..48090b274e1e 100644
--- a/src/libs/ReportUtils.ts
+++ b/src/libs/ReportUtils.ts
@@ -2072,8 +2072,7 @@ function getMoneyRequestReportName(report: OnyxEntry<Report>, policy: OnyxEntry<
 
     const moneyRequestTotal = getMoneyRequestSpendBreakdown(report).totalDisplaySpend;
     const formattedAmount = CurrencyUtils.convertToDisplayString(moneyRequestTotal, report?.currency);
-    const payerOrApproverName =
-        isExpenseReport(report) && !hasNonReimbursableTransactions(report?.reportID ?? '') ? getPolicyName(report, false, policy) : getDisplayNameForParticipant(report?.managerID) ?? '';
+    let payerOrApproverName = isExpenseReport(report) ? getPolicyName(report, false, policy) : getDisplayNameForParticipant(report?.managerID) ?? '';
     const payerPaidAmountMessage = Localize.translateLocal('iou.payerPaidAmount', {
         payer: payerOrApproverName,
         amount: formattedAmount,
@@ -2090,7 +2089,8 @@ function getMoneyRequestReportName(report: OnyxEntry<Report>, policy: OnyxEntry<
         return `${payerPaidAmountMessage} • ${Localize.translateLocal('iou.pending')}`;
     }
 
-    if (hasNonReimbursableTransactions(report?.reportID)) {
+    if (!isSettled(report?.reportID) && hasNonReimbursableTransactions(report?.reportID)) {
+        payerOrApproverName = getDisplayNameForParticipant(report?.ownerAccountID) ?? '';
         return Localize.translateLocal('iou.payerSpentAmount', {payer: payerOrApproverName, amount: formattedAmount});
     }
 
@@ -2374,7 +2374,7 @@ function getReportPreviewMessage(
     const containsNonReimbursable = hasNonReimbursableTransactions(report.reportID);
     const totalAmount = getMoneyRequestSpendBreakdown(report).totalDisplaySpend;
     const policyName = getPolicyName(report, false, policy);
-    const payerName = isExpenseReport(report) && !containsNonReimbursable ? policyName : getDisplayNameForParticipant(report.managerID, !isPreviewMessageForParentChatReport);
+    const payerName = isExpenseReport(report) ? policyName : getDisplayNameForParticipant(report.managerID, !isPreviewMessageForParentChatReport);
 
     const formattedAmount = CurrencyUtils.convertToDisplayString(totalAmount, report.currency);
 
@@ -2444,7 +2444,11 @@ function getReportPreviewMessage(
         return `${requestorName ? `${requestorName}: ` : ''}${Localize.translateLocal('iou.requestedAmount', {formattedAmount: amountToDisplay})}`;
     }
 
-    return Localize.translateLocal(containsNonReimbursable ? 'iou.payerSpentAmount' : 'iou.payerOwesAmount', {payer: payerName ?? '', amount: formattedAmount});
+    if (containsNonReimbursable) {
+        return Localize.translateLocal('iou.payerSpentAmount', {payer: getDisplayNameForParticipant(report.ownerAccountID) ?? '', amount: formattedAmount});
+    }
+
+    return Localize.translateLocal('iou.payerOwesAmount', {payer: payerName ?? '', amount: formattedAmount});
 }
 
 /**