There are two types of transactions you can record in Kin. Paid transactions, which are a record of things already done, and estimates, which are an indication of planned transactions - money that might be spent, but hasn’t been spent yet.
Adding a paid transaction
A paid transaction is a record of something that has been paid for and that will be used by the group. Maybe it’s the groceries for a weekend away, or toilet paper for the household.
- When you’re in the group on the Kin app, select the add icon bottom right.
- Give the transaction a description. The description is seen by everyone in the group, so try to make sure it makes sense to everyone.
- Then, add in the value of the transaction. Currently, you can only enter values in South African Rand.
- Indicate who paid for it. By default, it’s you, but you can also tap the name to change it to anyone else in the group.
- Choose how the expense should be split.
TIP: You can choose if the transaction should be split among everyone in the group, or just among a few group members. Perhaps you’re on a group trip, but not everyone participates in the same activity. You can still keep track in your Kin group - just adjust who should be paying for this.
- When done, select save.
Adding a planned transaction - an estimate
Use Kin groups to plan as well. That way, you know how much your group things are likely to cost. Click on Estimates to enter a planned transaction, enter a description, and enter how much you think it will cost. When the transaction has been done, you can switch this over to Done, and edit the transaction amount if necessary.
NOTE: Planned transactions are not part of the settling up calculations, so be sure to switch these transactions when the time comes.