Splitwise, a Web tool designed to help roommates organize shared expenses, announced the launch of free mobile apps for both iPhone and Android.
The free smartphone application allows roommates to trackapartmentspending on utilities, rent, grocery trips, and other expenses. All they need to do is to create a free account on Splitwise.com.
“With the release of these mobile apps, roommates can now easily input expenses when they occur, such as at a furniture store, in the grocery checkout isle, or when settling a bar tab,” said Splitwise co-founder and Harvard graduate student Jonathan Bittner, in a statement.
Earlier in April, MobilityTechzone reported Bittner’s plans to expand SplitTheRent by adding online payment tools and a mobile app.
The app organizes the expenses onto one page. By analyzing the historical spending, it sends e-mail summary of reports, including debts. The app provides simplest ways to pay each other’s debts.
Splitwise is planning to offer the solution to international customers. The company is working on international currency support and other frequently requested features, said Bittner.
“But what we’re most excited about is helping people keep track of debts between friends who don’t live in the same apartment. In that spirit, we’ll be launching a travel-oriented sharing service very soon,” Bittner added.
Splitwise app is open as a public beta since mid-April 2011. The app already has over 10,000 registered users, hundreds of thousands of hits, and is a finalist in the prestigious MassChallenge business start-up competition.
Splitwise site is adding free “fairnesscalculators” every week. The fairness calculators give impartial sharing advice to roommates and friends based on survey analysis. The components of fairness calculators include a rent sharing calculator, a used furniture valuation tool, and a calculator for the appropriate contribution when staying as a guest.
The rent-splitting calculator divides rent fairly among housemates based on the size and quality of each bedroom. Another free app, the bill sharing tool for roommates, has been well received by the industry, the company said.
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Rajani Baburajan is a contributing editor for MobilityTechzone. To read more of Rajani's articles, please visit her columnist page.Edited by
Rich Steeves 
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