Great Excel tool for sharing expenses

Posted: July 21, 2010 in Uncategorized

I am sure many of you must have run into situations where you have to share expenses of a dinner or an outing with a bunch of friends, but hate to do all the math. Especially when different members share different expenses and owe varying amounts to one another the math gets quite complicated. Here’s a simple and quick calculator created using Excel, that will make the process less harrowing and show in clear big red numbers Who owes Who What (There’s a tool by this name out there which sells for $15. Save the $15 and use this instead.)

There are no multiple tabs, no wordy questions, no need for trying to figure out how it works etc. It is very straightforward. You mention the expense name and amount, then in the first section you divide the expense between people who should share that expense (for example if “Cheesecake” is an expense you divide the total amount among the people who ate the cheesecake). In the second section you divide the same amount between the people who actually paid for the cheesecake (the tool even allows for these people to be different from the people who ate the cheesecake, although that would rarely happen when it comes to cheesecakes).

Simply open this word doc, the excel is embedded inside the word doc. The short guide to use the excel is also within the excel.

Click here:
Who Owes Who What

Constraints:
1. This tool can be used for 4 (or fewer) members. Let me know if you want a version that does this for more # of members for a larger group. With some Excel skills you can DIY.

2. This version contains room (rows) for 50 expenses by default. More expenses can be added by removing sheet protection and inserting more rows in between and then putting the sheet protection back. (This is done through Tools –> Protection menu of Excel.)

Feel free to post comments / suggestions for improvements.

Enjoy.

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Comments
  1. mark says:

    This is exactly what I needed. Thanks!

  2. Old Crow says:

    I tried a few different spreadsheets and yours is a perfectly “simple and quick calculator”. I’ve modified it for two people and added a “Totals Paid Out” row under the “Who Owes What” row to compare paid vs owed.

    Thanks

  3. Umesh says:

    God bless you! 🙂 I’m sure millions of people will have the same problem.. if only they could find this. I’ll share it with my folks.

    Btw, I have a slightly larger group. Could you please make a sheet for 6 people for us? Or write steps for increasing the number as well?

    Thanks in Advance!

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