FAQ: Settlements

- How does accuracy work?

When you settle up with someone, you can choose the accuracy that WhoseBill uses to calculate the required payments. The default choice is to use the highest accuracy for the chosen currency, for example if you are settling in British Pounds, the highest accuracy is a single penny, or £0.01.

If you are not worried about a few pence here and there, you can make things easier by changing the accuracy to something to a larger value, for example the nearest £1 or £5.

When WhoseBill works out the most efficient set of payment to settle up, it makes sure that each person only pays or receives in multiples of the accuracy you choose.

When you are settling in a pool, this can dramatically simplify the payments that need to be made to settle up, as those people who owe or are owed less that the chosen accuracy will not need to make or receive any payments at all, and our algorithm can match those who owe or are owed similar amounts.

So, when settling in large pools with many bills, using the accuracy can make life much simpler for everyone, if you're not too bothered about being spot on.

Whichever accuracy you choose, WhoseBill will always "repay" the exact debts in all currencies so that everyone is exactly at zero!