Alex
My feedback
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25 votes
Hmm…interesting! I’ll pass on this feedback – I haven’t heard much about people adding transactions on Splitwise that aren’t actually IOUs or payments.
For now, your best bet is probably to edit your rent expense, so that each flatmate’s share reflects the actual amount they’ve been paying (including the gift). So if everyone pays $500/mo normally, and flatmate #1 is paying an extra $100 on flatmate #2’s behalf, you could edit the bill to say that flatmate #1’s share is $600 and flatmate #2’s share is $400. Then, when each person pays their adjusted share, there should be no remaining debt between the two of them. Hope that helps for the time being!
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There needs to be an option to "write-off" or "forgive" a debt and record it correctly. Making a 'cash' payment is not acceptable for three major reasons.
(1) People use SplitWise for things like rent, utilities, etc with roommates. Sometimes there are disputes where neither party agrees, but there needs to be a record so that later on, if the disputes continue and they go to small-claims court, the ledger cannot show a "CASH" payment was made or a judge will say "he-said-she-said". "Write-off" gives the ability for both parties to at least agree on the ongoing balance and continue to use the app. Without that, people just abandon it, which I've experienced personally.
(2) SplitWise is a financial app and should follow the most basic accounting principles. Recording a "cash" payment for something that was not paid is simply wrong.
(3) If this app is used by a landlord to help track expenses with tenants, in the event of an IRS audit, the auditor will not believe "oh I just marked a cash payment, but I was never paid cash by the tenant". They will say "it's marked as a cash payment, that's income, pay taxes on that amount."
This should be an easy modification and makes the app more usable and inline with accounting principles.