Bill Slicer is a bill splitter app. That means that it can be used whenever you have to divide one or more bills among a group of participants, or keep track of expenses and revenues regarding a common fund. It can be used for simple tasks like a restaurant bill, but also for more complex operations like all the payments during a trip.
In order to use the app you must define one or more “accounts”, the account is a group of operations connected to a same subject. examples of account are “Trip to Milan”, “Birthday Party Organization” etc. Every account can have two or more “participants”, people who contribute or finance the account and get the benefits. When you insert a new operation, you have if every participant is payer or beneficiary (or both) of that operation. Depending on this information the app compute the amount every participant must pay to or receive from the others.
How can you start using the app? First you have to register the participants. It is very simple as only the name is required. You can also import a participant from the contacts.
Then you define an account you must specify the name and the type that can be “Common Fund” or “Bill Split”, actually there is not much difference in how the two kinds are managed. The only difference is in the default set of the payer-beneficiary switch. After you chose which participants are associated with the account.
After having defined this structure you can start registering the operations and have the debt-credit situation in real time.