By Georgetta L. Morque

How often have you had a night out or weekend away with friends and had to painstakingly spend hours dividing up everyone’s expenses afterwards? You only hope that a banker or mathematician is in the group to figure it all out.

Francis Verdier has solved the problem with his app, iOmoney 2, which quickly and accurately computes the amount each person owes or is owed through a special algorithm that calculates individual tabs from a group bill. “You put the different expenses in and the app will tell you who is in the red, who is next to pay, and balances everything,” says Verdier. It also sends reminders and lists unpaid balances.

A native of France, Verdier developed the app after several years of struggling with expenses from ski trips with friends in Europe. He originally wrote the app on a Palm Pilot and kept it up to date until the iPhone became the tool of choice. When researching Apple for similar apps, he only came across ones that helped split the bills at restaurants. Now, in its ninth version, iOmoney 2 offers much more.

“You can use the app in many ways and people have found some interesting uses,” says Verdier, noting that poker clubs have found it very helpful. It’s also handy for party, holiday, and house expenses, in addition to dining and travel.

A lifelong techie, Verdier grew up with computers — his dad was in the business — and started coding by age 12. He went to engineering school in Paris and worked as a developer in a financial firm. Verdier and his British wife, Caitlin, moved to New York and settled in Rye at the suggestion of his employer. He is currently the Chief Information Officer at a global asset management firm in the city. Caitlin Verdier runs a successful parent-to-parent consulting and advocacy business, ParentAble.org, as well as Caitlin’s Cuisine.

The app, which is available in four languages, is used by thousands worldwide. Verdier isn’t trying to make money, but likes to cover his expenses. The app can be downloaded free from the iTunes App Store and used on a trial basis for up to five expenses. Afterwards, there’s a $1.99 charge for unlimited use.

In addition to working, building apps — he has created many — and parenting two teens, Verdier also plays bass guitar in an indie rock band, The M62s, a group of ex-pats from Ireland, France, and Great Britain, with one American. M62 is a highway north of England, which links the towns where the band members are from. The M62s, who also use iOmoney 2 to calculate band expenses, include Angus Scott, Steve Shaw, Mark McCarthy, Simon Bradley, Jim Kuster, Allison McCarthy, and Cameron Kamer, when he’s not in college. They’ve had gigs in the area, and will play at Molly Spillane’s in Mamaroneck December 1 at 7 p.m.

 

Francis and Caitlin Verdier