square things up with (someone)
to pay someone what one owes him or her
I squared things up with my friend and gave him the money that I owed him.
Exchanging Christmas Gifts
Dutch children receive their gifts on December 5, St. Nicholas Eve, when families gather to play treasure hunt games and exchange riddles. Presents are anonymously signed Sinterklaas, but a dedication is written on the wrapping paper to offer clues to the real gift givers identity. A rhyming verse teases the recipient (in good humor, of course) or offers a hint at whats inside. Other small, unwrapped gifts are hidden in odd places, like inside a potato or a cup of pudding the more surprising, the better.