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InvoicePlane VS Splitwise

Compare InvoicePlane VS Splitwise and see what are their differences

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Contents:
  1. ยป Base Details
  2. ยป Videos
  3. ยป Reviews
  4. ยป Alternatives

InvoicePlane logo InvoicePlane

Free and open source invoicing application to host on your own server.

Splitwise logo Splitwise

Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!
  • InvoicePlane Landing page
    Landing page //
    2023-04-19
  • Splitwise Landing page
    Landing page //
    2023-01-23

InvoicePlane features and specs

  • Open Source
    InvoicePlane is open-source software, meaning you can download, use, and modify the source code for free. This allows for customization and flexibility to meet specific requirements.
  • Self-Hosted
    Being self-hosted allows you to have full control over your data and deployment. This is beneficial for businesses with strict security and compliance requirements.
  • Customization
    InvoicePlane offers a high degree of customization, enabling businesses to adjust templates, fields, and workflows to better fit their needs.
  • Multi-Language Support
    InvoicePlane supports multiple languages, making it suitable for businesses operating in different geographical regions.
  • Comprehensive Feature Set
    InvoicePlane includes a comprehensive set of features such as client management, invoicing, quote generation, and payment tracking.
  • Regular Updates
    The platform is regularly updated, keeping it secure and aligned with the latest industry standards and user feedback.

Possible disadvantages of InvoicePlane

  • Technical Expertise Required
    As InvoicePlane is self-hosted, it requires a certain level of technical expertise to install, configure, and maintain the system.
  • No Official Support
    There is no official customer support from InvoicePlane; users rely on community support and documentation, which might not be sufficient for all issues.
  • Limited Integrations
    InvoicePlane has fewer third-party integrations compared to some commercial invoicing software, which may limit its functionality in certain business environments.
  • Performance Dependent on Server
    The performance of InvoicePlane can be heavily dependent on the server it is hosted on. Inadequate server resources can result in slower performance.
  • Initial Setup Complexity
    The initial setup of InvoicePlane can be complex and time-consuming, especially for users who are not familiar with server environments and software installations.
  • User Interface
    The user interface, while functional, may not be as polished or modern as some commercial alternatives, which can impact user experience.

Splitwise features and specs

  • User-Friendly Interface
    Splitwise provides an intuitive and easy-to-navigate interface, making it straightforward for users to add expenses, keep track of debts, and settle up.
  • Multi-Platform Availability
    Available on the web, iOS, and Android, Splitwise ensures users can access and manage their expenses from almost any device.
  • Expense Tracking
    The app allows users to easily log and categorize expenses, which can be particularly useful for group trips, shared households, or any shared financial responsibility.
  • Flexible Split Options
    Users can split expenses equally, by percentages, shares, or custom amounts, providing flexibility in how costs are divided among group members.
  • Currency Conversion
    Splitwise supports multiple currencies, which is handy for international travel or groups with members from different countries.
  • Bill Reminders
    The app sends reminders for outstanding balances, helping users to stay on top of their payments and avoid forgotten debts.
  • Integration with Payment Platforms
    Splitwise can integrate with payment platforms like PayPal and Venmo for easy settlement of balances.

Possible disadvantages of Splitwise

  • Privacy Concerns
    Since Splitwise involves sharing financial information with others, there could be privacy concerns for those unwilling to share detailed expense data.
  • Subscription-Based Features
    Some advanced features, such as expense exporting and additional integrations, require a Splitwise Pro subscription.
  • Manual Entry Requirement
    Splitwise requires users to manually enter expenses, which could be time-consuming and prone to errors if not done diligently.
  • Limited Automatic Reconciliation
    While Splitwise helps track who owes whom, it does not automatically reconcile or pay off balances, leaving users responsible for manual payment.
  • Dependency on Group Honesty
    The accuracy of the expense records relies on the honesty and diligence of all group members, which may not always be reliable.
  • Potential for Confusion
    The various options for splitting bills (equally, by shares, etc.) can sometimes lead to confusion or disputes among users over what is fair.

Analysis of Splitwise

Overall verdict

  • Splitwise is a highly effective tool for managing shared expenses, especially if frequent splitting of costs is involved. Its features make it easy to track who owes what, and its automatic calculations save time and reduce errors.

Why this product is good

  • Splitwise is popular because it simplifies sharing and tracking expenses among groups, making it ideal for roommates, friends on trips, or any group spendings.
  • It automatically calculates balances and reminds users about payments, reducing the awkwardness of asking others for money.
  • Offers a user-friendly interface both on web and mobile apps, which makes managing expenses convenient and accessible.
  • Supports multiple currencies, which is great for international travel groups.
  • Integration with payment platforms like PayPal and Venmo for easy settlement of debts.

Recommended for

  • Roommates who need to regularly split household bills and expenses.
  • Groups of friends or families who often travel together and need to manage shared travel costs.
  • Colleagues or classmates working on projects or events that require shared funding.
  • Anyone who wants to avoid the hassle of manually tracking and settling shared expenses.

InvoicePlane videos

No InvoicePlane videos yet. You could help us improve this page by suggesting one.

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Splitwise videos

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Splitwise - iPhone App Review! [2020]

More videos:

  • Review - Tricount vs Splitwise - App comparison
  • Demo - Splitwise Demo

Category Popularity

0-100% (relative to InvoicePlane and Splitwise)

InvoicePlane

Splitwise

Invoicing
100 100%
Invoicing
0% 0
Personal Finance
0 0%
Personal Finance
100% 100
Accounting
100 100%
Accounting
0% 0
Expense Tracking
0 0%
Expense Tracking
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare InvoicePlane and Splitwise

InvoicePlane Reviews

18 Best Free GnuCash Alternatives for Free Accounting
InvoicePlane is a self-hosted software, thatโ€™s available to download for free. This helps manage your quotes, invoices, clients and payments effortlessly. You can also customize your invoices using the several options, templates, and settings. It also offers you an option to set up 25 different payment providers allowing the customers to pay the invoices using online payment...
Source: thegeekpage.com
The Top 7 Open Source Invoicing And Billing Solutions in 2022
Today Invoice Plane is available as an open-source and paid version. Both professionals and businesses can benefit from using InvoicePlane. Regardless you are a freelancer, small or medium-sized business. InvoicePlane is available in many languages, which means non-English speakers can use it as well.
Source: isotropic.co
18 Best Free GnuCash Alternatives for Free Accounting
InvoicePlane is a self-hosted software, thatโ€™s available to download for free. This helps manage your quotes, invoices, clients and payments effortlessly. You can also customize your invoices using the several options, templates, and settings. It also offers you an option to set up 25 different payment providers allowing the customers to pay the invoices using online payment...
Source: merabheja.com

Splitwise Reviews

12 Best Bill Splitting Apps in 2023
Splitwise is among the most commonly used group payment apps that can easily keep a systematic record of all your informal debts including restaurant bills, travel expenses, cost of accommodation, and much more. With this expense sharing app, users can either create groups or split the bill privately among friends. Splitwise also registers and saves all the expenses and...
Source: www.mobileappdaily.com
6 Best Bill Splitting Apps for Hassle-Free Expense Sharing
Splitwise employs an intelligent algorithm to calculate the exact amount owed by each user. It shows who paid for what, how much amount was paid by each member, and any outstanding balances. Furthermore, the application also keeps everyone updated about their balances and recent transactions.
Source: www.how2shout.com
Best Bill-Splitting Apps
For example, shared items like appetizers would be split among the entire group or just a few people in the group. The app can handily accommodate large parties by allowing you to add up to 10 people to each group. Once youโ€™ve divided up the food among all the plates you can add in tax and tip. The app is made by the same company as Splitwise and is completely free. The only...
Source: www.thebalancemoney.com
7 Best Budgeting Tools and Apps for Personal Finance
This oneโ€™s not a complete budgeting app but itโ€™s still a handy one. Splitwise is a nifty app that helps people track how much they owe to friends and colleagues and vice versa. It makes sharing expenses on outings, meals, events, etc easy to track by logging in each transaction. It basically keeps a total over time, so that you can pay back the money in a large payment,...
Source: www.softwaresuggest.com

What are some alternatives?

When comparing InvoicePlane and Splitwise, you can also consider the following products

Invoice Ninja - Invoice Ninja is a free, open-source solution for invoicing and billing customers.

Tricount - Manage and share expenses with friends

FreshBooks - The ideal accounting software for small business owners.

Splid - Splid helps friends manage their money.

Zoho Invoice - 100% free online invoicing software for small businesses.

Settle Up - SETTLE UP is an indispensable app for friends and flatmates who need to keep track of shared bills...

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