Each flatmate pays for expenses using their own money.
Each time a transaction takes place the amount and details are entered into the flatAccount.com website.
The website shows the amount contributed to the flat by each flatmate.
Using this system, any flatmate can pay for any expense at any time - flatAccount.com will keep track of everything for you.
Each flatmate pays for expenses using their own money.
The transaction details are entered into the flatAccount.com website which keeps track of what was paid, how much and by whom.
At any time you can check the balances of all flatmates. The balances reflect the amount that each flatmate has contributed towards expenses.
The system can even account for personal expenses - for example, a magazine purchased with the flat groceries. It doesn't matter if you forget to enter transactions immediately because they can be back-dated.
It makes sense for the flatmate who owes the most (the one with the lowest balance) to pay for the next expense - that way you can keep the balances as even as possible. However, it does not matter who pays for what because flatAccount.com will keep track of everthing for you. What's more, it is very easy to "square up" at the end of the year when your flat is over.
Want to know more? Check out our frequently asked questions section.
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