Innovation That Matters

Tracking (informal) online sales, no accountant required

Work & Lifestyle

We’ve written about a few different sites focused on helping friends share expenses, including general-purpose BillMonk and Wigadoo for outings. Now a new contender out of Finland has come to the table with a novel e-commerce twist. Scred—short for “street credit”—allows friends, groups and communities to manage their collective money. Its Pools feature, first of all, is designed to help friends keep track of who owes what during a joint excursion, for example. Friends all sign up for the same pool when they know they’ll need to track expenses together, and then they input each cost incurred as they go along. The system will track debts between people, balance debts and shared expenses and then calculate who owes what in the end—even using multiple currencies. The Pools function is free to use, and is also available via mobile phone. Perhaps even more interesting, however, is Scred’s MiniCorps feature—now in beta—which can be used to take in money and have it automatically accounted by Scred. Aimed at users such as associations, trip organisers, charity groups and artists, MiniCorps serve much like virtual companies as they allow groups to sell items or collect fees and donations through a Scred shop, track both income and expenses, and calculate profits and losses. MiniCorps are free to use during the feature’s beta period; all money is handled via PayPal. With the growing number of sellsumers out there, eager to earn some extra cash during these tough economic times, we’d bet Scred’s MiniCorps feature will be met with a particularly warm reception. What else could help sales-oriented consumers make the most of their bottom line…? Spotted by: John Greene



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