Scred (The Street Credit) is a new service for recording shared expenses and debts between ... More
Scred (The Street Credit) is a new service for recording shared expenses and debts between friends, spouses and acquaintances. When you are travelling or spending the night out you often have the situation where someone pays for the tickets, someone else the hotel and a third person the food and drinks. The same frequently happens with students and mates sharing flats, or every day with small loans back and forth. So instead of the fuss with receipts, emails, phone calls and arguments you can very easily ‘Scred’ all of that and let our software sort it out so that at any point you always know who owes money and who is expecting. Less bother, fewer conflicts and better relationships.
Scred has several features their competitors lack:
It focuses specifically on communities with its concepts of ‘pools’ — large or small groups of friends who are doing things together.
It manages multiple currencies. Transactions can be stored in any currency and are automatically translated into both the pool currency and the user’s own currency.
Scred has an offline version which runs as an application on your mobile phone. It stores transactions locally and then synchronises to the server at the end of your trip or activity.
All of these features are important for people travelling or out and about. Scred is free to use and has recently been opened to the public
Last updated 10 Nov 2011
Published 10 Nov 2011
This is an interesting expenses track and share app that has obviously added a few extras since it launched. With a focus clearly on groups of people linked by a financial activity the site contains many tools that should make life a lot easier to organize.
There are more than a few apps out there aimed at making the nightmare of flat sharing more manageable and Scred can certainly be used in this capacity. Expenses can be logged and shared amongst flat mates and even paid via PayPal with this system. Flat sharing is just one of the situations that can be handled though.
I particularly like the idea of a band of musicians using a web app to get their act together. Obviously the bands that this app is aimed at are the ones who have yet to hit the big time and have an agent and accountant to rip them off.
It’s probably not healthy to imagine some of the shared expenses a rock band may have but suffice to say they can all be handled with Scred meaning that even the drummer can understand them! Even better it’s possible to bill gig organisers from the site.
One of the great features of this site, and it applies to our friends in the rock band as well as any group of people with something to promote or sell, is the integrated shop. Here you can sell tickets and collect fees as well as display and sell goods like tour shirts or charitable merchandise.
The accounting function available can provide those who want it with a clear picture of how things stand with reports on all movements. It can even keep a check og inventory levels if you’re using the integrated shop so you need never run out of XXL shirts in black for the mature rockers in the audience!
I think this is a great app for groups of people who need some help getting organized financially and love the idea of rock band members looking at financial reports. However, with a fee of 1.5% taken for all monetary transactions (plus any applicable PayPal charges) it certainly sounds better than using Mr Ten Per Cent in Tin Pan Alley.