Expenditure – A Tool to Manage Money !

I have got to see this new Tool Expenditure which helps in Managing the money or day to day expenses .

it has become really difficult to Manage the expenditures . I take out 10K out of Bank and within few days i find my Pocket empty . Expenditure tool is here to keep track of our expenses .

Dashboard
Dashboard

 

You can download it from its official website Expenditure

 

Tool works with basic three entities :

1. Pocket

2. Bank transactions

3. Expenditures

Lets Take example of Sam who has 1000 bucks in his pocket . 1 500 Rs Note , 3 100 Rs Notes ,2  50 Rs Notes 2 20 Rs , 5 10 Rs notes and 10 Rs as change .

In the tool Sam is able to create this pocket and Tool will let him put the currency notes as said above .   See Screenshot as below :

Create Pockets
Create Pockets

Now Sam has a Pocket in the tool same and with Exact amount as he have in his Wallet in Real .Once he created this pocket and clicked Create Pocket , He will See this pocket name in his dashboard page . Showing him his Pocket Name and Amount of Money in it .

Now Lets Say Sam went to ATM Machine and withdraw Rs 10,000 out of it . ATM gave him 9 1000 Rs Notes , and 2 500 Rs Notes .  Now Sam Need to add this Value in Bank Transactions and make this transaction as DEBIT because money is debited from his Bank and select Pocket under pocket drop down . Doing what Money will be debited from the bank and will be credited into his Pocket , See Screenshot

Bank Transaction
Bank Transaction

Once you click Save Money will be Added into Sam’s Pocket and Summary page will show Total amount in Pocket with all bank transactions done .

Dash Board After Pocket Addition and Bank Transaction Done
Dash Board After Pocket Addition and Bank Transaction Done

DashboardAfterBankTransaction2

If we see Screenshot 1 carefully the Summary ” Under column Money not Recorded or Lost
– means more in Pocket or wrongly Recorded
if 0 – all Ok   ” We See 10,000 . This is the most important column of our Dashboard . For all transactions to be 100% good , its value should be 0 . In case its value is -ve it means we have more money in Pocket i.e. either we have entered any transaction wrongly . We value in this field is more than 0 , it means we haven’t updated the pocket currency notes with pocket yet .

In this case , as Sam just withdrawn money from ATM , however we forgot to update his pocket currency in the tool so we are seeing this value in the Summary . To fix this let us audit the pocket now .

For that Sam Will Select Pockets –> Audit-Pockets  , He will Select the pocket he want to audit and click OK and update the currency notes i.e. will make 1000 as 9 and 500 as 3 and click Done .

Audit Pocket
Audit Pocket

Once he clicks done , he will see the Summary Page and the value of Column Money not Recorded or Lost  as 0 . Perfect .

Dashboard After Pocket Audit
Dashboard After Pocket Audit

Now Sam went to a Mall and purchased a T-shirt and he Classify this Expenditure as Shop . So he created a new type of Expenditure named Shop . He Clicked Expenditure –> Add Types of Expenditures

Add Types of Expenditures
Add Types of Expenditures

Once he click Save , now he have this Type of Expenditure Saved . Now he want to add this Tshirt as Expenditure so he will Click Expenditures –> Add Expenditure .

He will Enter Today’s Date and Time , Add a description Put Shop as Type of Expenditure , Add 1500 Rs as amount or T-shirt and Select Sam’s Wallet as Wallet and Select Save . Once Done he will be redirected to his Dashboard , with summary , Graph showing Expenses on Types of Expenditures and amount in his pockets .

Dashboard After Shopping
Dashboard After Shopping

Dashboard After Shopping2

Now Again Sam needs to Audit his pocket because he just spent 1500 bucks which he took from his pocket .Doing that he will see Column Money not Recorded or Lost value as 0 .

Things to Note :

Sam Can add any number of pockets : 1 his , one his wife’s , he can add his bank as a pocket and what not

Sam can add any number of types of expenditures

Sam can add any number or Expenditures .

Your comments welcome .