If you're planning a group vacation or organizing an event at your kid's school, Venmo this week introduced a new group feature intended to make it easier to keep track of expenses.

With Venmo Groups, you can add friends, family members, roommates, or colleagues to a group where all the expenses can be tracked, divided up, and settled among its members.

“We know managing ongoing expenses in a group can be challenging, in particular when each member covers different costs with different amounts at different times,” said Erika Sanchez, VP and General Manager of Venmo. “As one of our most requested features, Venmo Groups offers a seamless solution for users to better track and settle shared expenses in group settings.”

To access the feature, head to the Me page and access the Groups tab. From there, create a new group and follow the instructions to add your contacts. According to Venmo, once done, you can add expenses and get everyone's contributions with just a few extra taps.

Once in a group, members can add expenses. Venmo tells The Verge that when someone adds an expense, they can request different payments from members of the group, who can change that amount if necessary. A Venmo user can be in up to 20 groups at a time and a group can have up to 30 members, CNN reports.