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Splitwise VS FreshBooks

Compare Splitwise VS FreshBooks and see what are their differences

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Helping freelancers create invoice PDFs in record time. featured
Note: These products don't have any matching categories. If you think this is a mistake, please edit the details of one of the products and suggest appropriate categories.
Contents:
  1. ยป Base Details
  2. ยป Videos
  3. ยป Reviews
  4. ยป Alternatives

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!

FreshBooks logo FreshBooks

The ideal accounting software for small business owners.
  • Splitwise Landing page
    Landing page //
    2023-01-23
  • FreshBooks Landing page
    Landing page //
    2021-11-01

Splitwise

Website
splitwise.com
Pricing URL
-
$ Details
-
Release Date
-
Edit details

FreshBooks

Website
freshbooks.com
Pricing URL
Official FreshBooks Pricing
$ Details
paid Free Trial $15.0 / Monthly (5 Billable Clients)
Release Date
2003 January
Startup details
Country
Canada
State
Ontario
City
Toronto
Founder(s)
Michael McDerment
Employees
250 - 499
Edit details

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.

FreshBooks features and specs

  • User-Friendly Interface
    FreshBooks offers an intuitive interface that is easy to navigate, making it accessible even for users who are not tech-savvy.
  • Invoicing Features
    The platform provides robust invoicing tools that allow for custom invoices, automatic payment reminders, and recurring invoices.
  • Time Tracking
    FreshBooks includes built-in time tracking features that are useful for freelancers and businesses that bill clients by the hour.
  • Expense Tracking
    Users can easily log and categorize expenses, which simplifies the process of tracking and reporting business expenses.
  • Multiple Payment Options
    FreshBooks supports various payment methods, including credit cards and ACH transfers, making it easier for clients to pay invoices.
  • Customer Support
    The platform provides excellent customer service through multiple channels, including phone, email, and live chat.
  • Mobile App
    FreshBooks offers a mobile app that allows users to manage their finances on the go.

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.

Analysis of FreshBooks

Overall verdict

  • FreshBooks is a reliable and efficient accounting software option, particularly well-suited for those seeking an easy-to-use platform with comprehensive financial management features. Its customer support is also highly rated, providing prompt assistance and troubleshooting when needed.

Why this product is good

  • FreshBooks is widely considered a good choice for small businesses, freelancers, and self-employed professionals due to its user-friendly interface and robust feature set. It simplifies accounting tasks with invoicing, expense tracking, time tracking, project management, and reporting tools. The software also offers integrations with various third-party apps and services, enhancing its functionality and adaptability to different business needs.

Recommended for

  • Freelancers
  • Small business owners
  • Self-employed professionals
  • Service-based businesses
  • Consultants
  • Creative professionals

Splitwise videos

+ Add

Splitwise - iPhone App Review! [2020]

More videos:

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

FreshBooks videos

+ Add

FreshBooks Review and Pricing for 2019

More videos:

  • Review - Freshbooks Review: Pros, Cons, and Alternatives
  • Review - FreshBooks Review and Getting Started
  • Review - Freshbooks Review (in 2020)
  • Review - Freshbooks Review - What I think after 2 years of using Freshbooks
  • Review - QuickBooks vs FreshBooks (in 2021)
  • Review - Freshbooks Review (Why I left ๐Ÿคฆ and came Back ๐Ÿ˜ƒ in 2022)
  • Review - QuickBooks vs FreshBooks - Which One Is Winner? (2022)

Category Popularity

0-100% (relative to Splitwise and FreshBooks)

Splitwise

FreshBooks

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

User comments

Share your experience with using Splitwise and FreshBooks. For example, how are they different and which one is better?
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Reviews

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

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

FreshBooks Reviews

Top 20 Recurly Alternatives & Competitors in 2025
The system handles basic recurring billing scenarios with automated payment processing and client portal access. FreshBooks provides time tracking and expense management alongside its billing features, creating an all-in-one solution for independent professionals and small service teams. The platform focuses on reducing administrative overhead for businesses with...
Source: unibee.dev
What Are the Best Bill.com Alternatives?
FreshBooks is a cloud-based invoicing software that is user-friendly and designed for small businesses and freelancers. FreshBooks allow you to create and customize invoices easily, track expenses, and accept online payments.
Source: blog.featured.com
11 Alternatives to QuickBooks in 2024
Want to zoom out and look at the financial health of your business as a whole? FreshBooks can track your expenses for you, generate income statements, balance sheets and cash flow statements, and even generate activity reports that show you which projects are taking up the bulk of you and your teamโ€™s work hours.
Source: www.bench.co
The 10 Best Alternatives to GnuCash for Managing Your Finances
If you're looking for an affordable option and need a cost-effective alternative to GnuCash, FreshBooks is a great choice. It also provides various integrations with other business software, so you can easily connect your accounting tools with the other applications you use.
Source: www.findmycrm.com
Top 10 QuickBooks Alternatives (Free/Paid)
Freshbooks is the best accounting tool that is used to run businesses with ease and in a secure way. The tool is used by small businesses to collaborate on different projects. It provides reports related to finance for easy understanding. FreshBooks is a popular cloud-based accounting software tailored for small businesses, freelancers, and self-employed professionals. Known...
Source: www.geeksforgeeks.org

Social recommendations and mentions

Based on our record, FreshBooks seems to be more popular. It has been mentiond 3 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Splitwise mentions (0)

We have not tracked any mentions of Splitwise yet. Tracking of Splitwise recommendations started around Mar 2021.

FreshBooks mentions (3)

  • How do your employees/subcontractors track time?
    Do you want to tie contractor's logged time to specific clients and projects? I was using a PHP application installed on my own server for years and the developer seems to have all but abandoned it so I've been looking for alternatives. I'm currently testing out Freshbooks and after about a month using it, here are my observations:. Source: over 3 years ago
  • How to bill your clients?
    Take a look at dubsado.com and freshbooks.com for ideas. Source: over 3 years ago
  • Good time tracking/invoice software
    Maybe try freshbooks.com, been using them with a company we do business with and hasn't let me down. Also looks like they have time tracking software. Source: almost 5 years ago

What are some alternatives?

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

Tricount - Manage and share expenses with friends

Xero - Xero is online accounting for your small business.

Splid - Splid helps friends manage their money.

QuickBooks Online - QuickBooks Online is a Cloud Accounting for small business that can be used on iPad, mobile phone or computer to do invoicing, billing, run reports, or even pay employees online.

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

Wave Financial - Award-winning financial software designed for entrepreneurs.

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