Need to split the bill and then keep track of who has paid and who hasn't? These online apps do that, and more. And, because the information is online, everyone who is chipping in to pay the bills can see how expenses are being divvied up.
If you're looking for an easy way to split the rent and other expenses with roommates, or you organize office parties, baby or bridal showers with group gifts, or any kind of outing where several people pitch in to pay the bills, these online apps will split those bills for you and help you keep tabs on who has paid.
Some of the apps even send out payment reminders or let you make or accept payments online.
If you need to collect donations or do fund raising, you'll one to see one pick in particular: Pay It Square.
Most of these apps are currently free and you just need to set up an account to get started. Others from the bill splitting IOU group usually don't need to have an account, but it's easier for them if they do.
Other than Pay It Square, mentioned above, try one of these great online apps for splitting bills, sharing expenses and tracking payments:
Splitwise Free Online App Splits Bills and More
Splitwise is an online app that tracks expenses shared with friends, roommates, coworkers or others and divides the cost of those expenses. The app shows all IOUs in one place, so everyone who was involved in a transaction can see who and what they owe.
Sometimes, splitting the bill is not as simple as an evenly divided amount. Splitwise goes a bit further in that it provides advice about how much each person's fair share should be using "fairness calculators" for rent, couch surfing guests, travel, buying and selling used furniture and (of all things), and a calculator for determining addition rent or a "fine" that should be paid for roommates who disturb the sleep of others.
The app sends out friendly payment reminders via email, too.
Splitwise stores your information in the cloud and is accessible online, or on a mobile app for iPhone and Android, so everyone involved in the divided transactions can get access to the information when they log on at Splitwise.
You can set up a group with people you regularly share expenses with, like roommates. These people don't have to have a membership on Splitwise for you to track IOUS, but it's useful if they are. You can send payments using PayPal to people to whom you owe money right from Splitwise.
- Cost: Free
- Go to Splitwise.com to use the online app. There are also apps for Android and iPhone that sync with your online account.
Pay It Square Collects Shared Expenses and Donations
Pay It Square is a more beefed up online app for collecting money from friends when you split a bill, or for larger events like class reunions, parties, or other get-togethers where the attendees pitch in some cash. Start by creating an event page, and add guests. You'll be notified when someone indicates that they can come and they've paid.
To set up a collection page for your roommates or friends, set up a customized Collect Page with the group payment amount, then send pay requests.
Payments can be collected online and offline payments can be tracked, too. Group members can see who has paid, and those who don't pitch in right away will get a reminder notification.
- Cost: Varies. There are Paypal, credit card and debit card fees involved. Pay It Square collects .99 cents, which is their only way of covering expenses for the service. See the fee page for details.
- Get more information and sign up at PayItSquare.com
Buxfer is an online personal finance app with a component that lets you organize money you lend or borrow, including friendly IOUs. For example, if you often pay the rent and the electric bill and your three roommates are supposed to pay you their portion of that rent, create a group in Buxfer with your roommates and you don't need to create two IOUs. This also works great for collecting dues and membership fees for clubs and organizations.
The groups show dollar amounts owed or to be received by group members.
Buxfer sends email or SMS notifications when transactions are posted and for group activity and uses Amazon payments to transfer money online.
Log on to Buxfer using your accounts with Google, Yahoo, Microsoft or Facebook, or create a Buxfer account.
Buxfer does not have any regular mobile apps that I could find, but iPhone, Blackberry and other mobile device users can use mobile internet sites through the browser on their phone. Support for tablet was not specified.
Buxfer does not have any regular mobile apps that I could find, but iPhone, Blackberry and other mobile devices can use mobile internet sites through the browser on their phone. Support for tablet was not specified.
- Cost: Buxfer does not come right out and say that it's a free app on the website, and I had to do some creative digging around before I finally found the cost in the Help section under Membership. The basic membership is free and includes splitting bills and IOUs. A Plus account is $3.99/month and adds on unlimited personal financial management features. For $4.99/month, you get reports, a financial forecast, transactions backed up to Dropbox (I have no clue why an online app would do this) and unlimited PayPal payments. Sending money with Amazon Payments is free, but there is a fee for receiving money.
BillPin (formerly BillMonk) is an online app that also has iOS and Android mobile apps. BillPin will either split bills evenly, or if some people in the group owe more or less than others, it will track that, too. The people you are splitting bills with get an email when you create a new entry, and you get an instant summary and bill record. If you make an error, bills can be corrected or voided altogether.
BillPin recently announced that it now supports 40 multiple currencies. I did not see a way of paying bills or receiving payments electronically through BillPin. And, I found no way of simply entering a friend's name. Use BillPin, and you need to enter email addresses or Facebook friends to set up the split. I'm sure this is so you can notify these people, but it is less flexible.
- Cost: Free
- Check it out at BillPin.com/