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!
Organize purchase receipts, track warranty deadlines, and download a searchable offline copy with your photos and PDFs.
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Which is more popular?
Based on our record, Current RMS
seems to be more popular. It has been mentioned
3 times
since March 2021.
social mentions
0 vs 3
Personal Finance popularity
100% vs 0%
alternatives listed
240+ vs 54
Base details
Website, pricing, platforms and company facts side by side.
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
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.
Cloud-Based Access Current RMS is entirely cloud-based, which allows users to access the system from anywhere with an internet connection, facilitating remote work and real-time updates.
Industry-Specific Features The platform offers features tailored specifically for the rental industry, including equipment tracking, resource scheduling, and project management, which can enhance operational efficiency.
Integration Capabilities Current RMS supports integrations with various other software solutions like Xero and QuickBooks for accounting and Zapier for additional app connections, promoting seamless workflow integration.
User-Friendly Interface The platform is designed with a user-friendly interface that simplifies navigation, making it accessible even for users who are not tech-savvy.
Regular Updates Current RMS frequently updates its system with new features and improvements based on user feedback, ensuring the software evolves with industry needs.
Possible disadvantages
Pricing The cost of using Current RMS can be relatively high, especially for small businesses or startups, which may find it challenging to justify the expense.
Internet Dependency Being a cloud-based system, its functionality is heavily dependent on internet connectivity, which can be a disadvantage in locations with unreliable internet service.
Learning Curve Despite its user-friendly interface, new users might experience a learning curve in understanding the full range of features and how to best utilize them for their specific use cases.
Customization Limitations Some users may find limitations in customization options, which can restrict the tailoring of workflows or specific reports to suit unique business requirements.
Support Availability Some users have reported that customer support can be slow to respond or resolve issues, which can be a hindrance when dealing with urgent technical problems.
Analysis
An editorial look at what each product does well and who it suits.
SplitwiseCurrent RMS
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.
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...
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...
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....
Recommendations tracked on public social media and blogs since March 2021.
Splitwise0 mentionsCurrent RMS3 mentions
Tracking Splitwise since Mar 2021.
Can you suggest to me av rental software for a small/mid-sized company?
We've been using Current since mid-2019 and it's been a real game changer. I feel it has an easier learning curve and more modern user interface than Flex. Cloud based and their support is excellent about responding quickly and listening...
Source:
over 4 years ago
Inventory Management Systems
I own a small/on the way to medium-sized event production/rental company, and I don't know how I'd survive without https://current-rms.com. A much larger company in town that I do a lot of work with uses it, and I'm attempting to be...
Source:
over 4 years ago
I need help!
We use Current. It may be overkill for what you are doing, but it works well. Quotes, inventory, repair log, personnel, trucking, equipment value, rental rates - all there.
Source:
over 5 years ago
Alternatives to Splitwise and Current RMS
When comparing Splitwise and Current RMS, you can also consider the following products.
Tricount
Settle Up
Splid
Spliit
YNAB
ihatemoney
Splitser
Rentman
Booqable
EZRentOut
HireHop
MCS-rm
Flex Rental
CHEQROOM
