Managing the shared financial transactions has become a very difficult process with the rapid growth of group-oriented activities like shared accommodation, travel, events, and projects. Calculations and transparency issues, financial management problems, and interpersonal relationship issues result from the calculations performed for the splitting of bills and expense management in the traditional manner. Because of these constraints, a methodical and technologically simple way of managing the shared expense is necessary. Bill Splitting System - This is a simple application used to divide the bill or expense among a group of people. By providing an automated, methodical, and user-centered system that aims to simplify and enhance the management of group expenses, the proposed FairShare System: Bill Splitting and Expense Managing Assistant aims to resolve the problem. In current financial environments, FairShare System is designed to make group expense management simpler and quicker. It splits the bill among all the peoples or with friends. It is a very useful apporoch to avoid misunderstandings amoung group of peoples. It addresses common issues like inconsistent data, wrong settlements, duplicates, and the difficulty in tracking balances. It ensures fairness and transparency in the process using optimized algorithms and minimizes the total number of transactions required for settling debts.This system provides a reliable,scalable,and user friendly way of managing groupexpense with a well-oragnized backend that ensures the security and accuracy of the data.
Shinde et al. (Thu,) studied this question.