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Guide: SplitWise is one of the best Online Bill Splitting App
As a student I have been living in a rented house for the past few years. Since I’ve always shared these rental apartments with a few of my friends, splitting bills has been a part of my life for quite some time now. In the very beginning, we used Excel sheets to split monthly invoices, but with the rise of cloud services, we quickly switched to Google Docs.
For the past few months, we’ve all used BillMonk for splitting the bills, but that all stopped after the service started having a lot of downtimes and we heard reports that people were starting to lose all their data. A few months ago I introduced all my readers to a service called Settle Up but the service only worked on smartphones. It had an online portal to split the bills, but it was limited.
Today I’m going to talk about a brand new service called SplitWise which makes it easy to split your bills. I’ve been using the service for months now, but unlike other services, I’ve never encountered downtime and data loss. In addition, the service can be used on any modern browser and has a dedicated iPhone and Android app also.
So let’s take a quick look at SplitWise and how it can be used to distribute bills among friends.
An Introduction to SplitWise
The first thing to do is create an account on SplitWise. For every friend you add to your list, SplitWise will send an invitation email so that the person can create an account and start using the service right away.
Cool news: BillMonk users can import data into SplitWise while creating an account.
After you have created an account, you must first create a group. If you live in a shared accommodation, you can add all the friends who live with you in a group. By creating a group, you can easily distribute all household bills among all friends sharing the apartment.
When registering an invoice, you can split it equally or unequally and specified. You can also create monthly recurring accounts that will be charged directly from your account, so you don’t have to worry about the routine breakdown of certain standard accounts by month (like rent, for example).
SplitWise’s interface is exceptionally smooth and every event is asynchronous. You can even add bills by writing them down as a plain English sentence. For example, if John owes you $ 20, you can just write ‘John owes me 20 for lunch’ in the Quick Add section and the bill will be added automatically. When you receive a payment from your friends, you can easily register a payment and settle the membership fee.
So that was all about adding up the bills. Apart from that, SplitWise offers features such as the monthly expense log and whiteboard. The former gives you a detailed breakdown of your monthly expenses, while the latter can be used as a quick notepad to share information with friends.back to menu ↑
SplitWise on iPhone and Android
Using SplitWise on smartphones and tablets is no different than on a computer. Although a bit compact, the interface looks the same. The accounts can be added and settled in the same way. If you own an iPhone or Android this is just an added benefit. You can enter the bill right away when you pay it, instead of waiting to come back home and then add it, which we forget a few times.back to menu ↑
If you have been a BillMonk user, you will certainly appreciate SplitWise. Those of you who haven’t started splitting accounts online and are still using Excel worksheets to take care of it should start using SplitWise. I am sure you will love it.
Top Image Credits: Jeff Belmonteback to menu ↑
SplitWise is one of the best Online Bill Splitting App: benefits
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