Questions
Frequently asked questions.
Short, honest answers. Can’t find yours? The knowledge base explains every term.
General
What is Penny Monet?
A shared cash book for groups. It records the group’s income and expenses, who holds the group’s money, and what each person still owes or is owed.
Is Penny Monet a bank or a payment app?
No. Penny Monet never holds, collects or transfers money. People pay the way they always do, in cash or by bank transfer, and record it in Penny Monet.
Which groups is it for?
Any group that spends money together: sports clubs, bands, clubs and societies, associations, friends, housemates, committees. See who it’s for.
Which languages does it support?
The app is available in English, Dutch, German and Spanish. Amounts follow the notation of the language, such as €1,152.50 in English and € 1.152,50 in Dutch.
Do I need to install anything?
No. Penny Monet runs in the browser on your phone, tablet and computer.
Money and payments
What is the difference between the group balance and Available?
The group balance is all the money the group really has. Available is that balance minus Reserved: amounts the group has agreed to pay but hasn’t paid yet. See Group balance.
Does Penny Monet net my credits and debts?
No. They stay separate until an authorised person offsets them on purpose. See Offsetting.
Can I pay in parts?
Yes. A payment settles one item, in full or in part. Paying more than is open is refused, so the books stay correct.
What happens when someone makes a mistake?
The item is corrected. The original stays visible, struck through, with the correction beneath it and the reason. Nothing disappears.
Can Penny Monet import my bank transactions?
No. There is no bank import. The group records transactions itself.
Does Penny Monet convert currencies?
No. The currency sign is display only. Amounts are stored and calculated exactly, to the cent.
Groups, roles and access
Who can do what in a group?
There are three roles: treasurer, member and guest. Per action, such as submitting expenses, reviewing, splitting, recording money, offsetting and correcting, the group decides who may do it.
What can a guest see?
Only their own claims, credits, debts and payments, with the history that belongs to them. Not the group balance, the address book or other people’s activity.
Can I be in several groups?
Yes. Each group has its own theme and its own books, and amounts are never combined across groups.
What happens when someone leaves?
Money they hold for the group is transferred first. Their claims and history are kept; they can’t add anything new.
How do people sign in?
With their own account, using the sign-in options available in the app.
Features
What is a Splitpot?
A separate space within a group to split the costs of one activity, such as a weekend away or a gift, and settle up in rounds. See Splitpots.
Does calendar sync work both ways?
No. It is a read-only feed: transactions from Penny Monet appear in your calendar app as all-day entries. Nothing flows back. See Calendar sync.
Can I add receipts?
You can add an explanatory note to a transaction. Check the options in the app to see whether attachments are available.
Are recurring payments booked automatically?
No. Each bill is entered when it arrives. You can record future items as expected.