Going out to eat with friends is fun- until you come to the part where you split the bill with the your friends. It is difficult to do the math as some people only have the vegetarian dishes or drinks are itemized. It becomes even more difficult when a few of the friends pay the bill and ask the others to pay back later.
The same is the case when you split the bill for anything else including house rent, water and gas bills between flat mates and clearing up IOUs after the monthly or weekly grocery shopping with roomies. However, the complexity and the struggle are things of the past now with the Splitwise App.
How does it work?
The Splitwise app makes life easier by splitting the bill easily between friends, colleagues or roomies. It works quite simply and has a user-friendly interface.
All you need to do is sign in using your email id and the app will set up your personal account by syncing to the Internet. You can then add your expenses by entering them like the score of a game.
You can form groups with your friends who are using the app or you can connect with them using email. Once the group is created, each member can simply enter how much he or she paid and how much the other group members owe. If your group goes out to lunch or dinner frequently, you can pay each other at once or choose to clear off the debts as they add up. In case you are added to two groups with a few other people, you can choose to settle the amount together or separately as well.
The best feature of Splitwise App is that it only connects you with friends and acquaintances without publishing any of your personal data online. It doesn’t handle real money and simply does the calculation for you. At the end of the week or month, you can send or request an IOU via email and your friends can pay you back using PayPal or other digital wallets or even in cash.
The assurance of correct calculations and up to date track of transactions keeps the friendships free from any kind of friction. The app even sends a friendly notification automatically to those members of the group who are due to pay their shares, for instance, after returning from a trip or the day after the movie night.
New features for clearing off debts on time
The Splitwise app has recently introduced a few new features, which take it a notch higher than its rivals. Although it only lets you pay your bills, IOUs, and dues directly to the other party via PayPal, one can still calculate the total using the app and then pay via net banking or any other digital wallet such as Paytm. Plans are underway for integration with other payment systems too. Also know how to split the bill with splitwise app.
With all these transactions taking place, the app also helps to track one’s single expenses without sharing the data with any of the friends unless you authorize it. However, once you shut down a log or reset it, for example, at the end of the month, the app doesn’t have a search option for you to look up previous threads.
However, the app does have a tab to show previously settled bills. Split the bill, utilities and shared expenses of the group is so much easier with the handy Splitwise app. Even if you don’t have your mobile on you, you can simply log in to the website and check out your account.
Who needs it the most?
Resident employees, young professionals, college and University students would totally find this app useful. For all it’s super cool features, it is absolutely free for installing and using on iPhone, Android and the web. Although the app is still undergoing many upgrades, it works best for long-term expense sharing as well as short term IOUs between friends and acquaintances. The Splitwise app boasts of amazing reviews by Business Insider, The New York Times, MSN Money, and many more websites and blogs. If you have ever faced the uncomfortable situation brought up when you split the bill, download the app now!