Let's split the bill

Let’s split the bill.

Is it okay to say “let’s share the bill” to mean the same thing?

Thank you!!!

Yes, it means the same thing, though I think it’s used far less than the following:

“We’ll split the check (or the bill).” (generally the total is just divided in two)
or

“Let’s ‘go Dutch’.” (meaning we each pay for ourselves, our own meals).

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Split is more natural than share. Go Dutch (as mentioned) is used to indicate sharing the bill between more than two people, but to be honest I would just use split no matter how many people there are.

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