Tracking bills and expenses are quite a hassle that we go through every day. This tedious task becomes even more complicated with frequent group lunches and dinners and apartment bills that must be split between roommates.
In today’s modern day and age where there’s an app for everything, you now have a great app for splitting bills easily without any hassles. Splitwise is the best bill tracker app, which can be used for sorting out the group expenses as well as tracking bills.
Entering bills in a record and calculating is quite difficult. The Splitwise app is really simple to work around and has an interface, which is user-friendly. All that a user needs to do to begin using this app is sign in with the email id and mobile number. The app automatically sets up a personal account with the signed in name and syncs it to the Internet.
All the data related to the expenses such as title, description, and cost could then be entered into the account just like you would in a physical account. If you want to split bills with friends, you can simply go to the menu and select ‘New Group’. Then you can add your friends via contacts or email.
After creating the group, each member can edit or enter the sum they paid in total and how much each one needs to pay to each other. The IOU amount can be settled later or as soon as you want.
Split bills fairly
Going out to dinners or lunches frequently with friends can result in piled up debts, wrong calculations and even friction between friendships. To avoid all of this, Splitwise calculates and saves all the data you enter and calculates every member’s parts according to the custom settings. In case your group lunches out recurrently, you can choose to settle the amount you owe to your friends all at once at the end of the week or at the end of the month, or you can settle the debts as they add up too.
Splitwise has integrated with Paytm and PayPal to make this possible for you as quickly as you’d want. You can be added to more than one group and if you want to settle with your friends who are mutual for both the groups, you can do so separately for each group or send the total sum at once too. After settling of debts, the thread is closed and is pushed to the background. The app works on tracking the sum you spend for non-groups expenses as well.
Pros and cons:
Even though this is a great app for splitting bills of any kind including restaurant bills, grocery bills, rent, water, gas and electricity checks and even for group trips, the app is still in development stage. It works best for basic and annoying calculations as well as expense tracking.
- Tracks expenses and calculates shares fairly and quickly.
- The data can be updated in offline mode as well.
- Users can add multiple payers for any group or expense.
- Integration with Paytm and other payment modes means easy and quick settlement of debts.
- Sleek and modular interface with bigger and self-explanatory icons.
- Groups and friendships can be exported easily to Spreadsheets.
- Random payments can be made between members of any group.
- Keeps track of non-group expenditure too.
- Special advantages for Splitwise Pro users.
- Basic conversion for more than one currency is not available for recording group trip expenses.
For all the advantages that Splitwise offers and for all the updates that make it a handy app for bill tracking, this app is a great help to those who often go out with friends and colleagues or live with roommates.
This app is most useful for young professionals and college or University students who look for ways to save up on their limited budget.
But this app can be used by anyone who wants to track his or her expenditure of the month to see what they most spend on. After all, both saving money as well as keeping friendships free from tension is important for a happy life, isn’t that so?