Offsetting amounts in Spend categories

Feedback & Ideas
1

Hello fellow Monzo Users - 1st post here :slight_smile:

Contrary to some other users in here, I love the Summary graph. I have set a simple budget amount that I try to stick to by the end of the month. The categories also help me realise how and where I spend my money more easily. Thereā€™s only one fault in my opinion:

If say, I pay Ā£300 for an accommodation that will be shared between 5 of us. Not everyone uses Monzo so this will be shared by receiving ā€œincomeā€ from my friends in different transactions. I will classify both the Ā£300 and separate receipts from my friends to the Holidays category. However, the Summary will only consider the ā€˜Spendsā€™ in determining the amount spent in the ā€˜Holidayā€™ category and in the total for the month - and it will ignore any receipts in the same category.

This means that my total spend would be overstated by Ā£240 in this case. Would be nice to see Monzo looking into this in the future.

1 Like
2

Once you have made the Ā£300 payment you should be able to click on it, then select ā€˜split this billā€™. Any payments that are then requested to other monzo users will then offset that transaction.

While a link can be sent to non-monzo users also I donā€™t believe it offsets their payment in the same way when they pay you.

Also, if they pay before you send a payment request there isnā€™t a way to associate the two.

So it is definitely not perfect now, but you could tweak your process a little and it would help.

You could also play with shared tabs, that might be good enough to for the non-monzo users to consider opening a monzo account for shared bills. You could share this post with them:

3

is ā€œsplit the billā€ android only? i cannot see it on IOS

4

image

5

This dose not show on any of my transactions :frowning:

6

Do your transactions have a blue box which says ā€œTry Bill Splittingā€ or similar?

7

yes, iv found that nowā€¦ new batteries needed for my glasses i thinks
thanks for your help

2 Likes
8

Thank you for your suggestions. I use both the ā€˜split billā€™ option as well as Shared tabs - I find them very useful.

In this case, I had to collect the money prior to the transaction going through so Split Bill couldnā€™t be used.
Beside, as also the case here, this was a 50% prepayment for a hotel. So even if the split bill was used, the remaining 50% will still go through as my spend in full. It throws away completely my spending record for the month.

Something for the development team to think about - maybe itā€™s a relatively small tweak!