Automated expense tracking is a must for any personal finance planning and budgeting software. You only enter your daily transactions and the system processes your data and presents consolidated reports. It's easier to take control of your spending when you have a clear understanding of how and where your money is being spent. InEx Finance personal money manager provides efficient expense tracking tools for multi-currency transactions, that will help you keep tabs on every penny spent and choose the right strategies for personal budget planning.

Organizing your transactions into meaningful income and expense categories, as well as labeling them with useful tags, can improve tracking and provide better insight into your spending habits. For example, you go out with your friends to enjoy yourself. You decide to have dinner at a restaurant for which you pay $250. So when you come home, instead of just recording your expense transaction under the category "Entertainment", you could make it more informative by adding some tags as well, for instance "restaurant" and "friends".

We have taken it a step further by making InEx Finance expense tracking system even more sophisticated. A recently added feature enables you to itemize your transactions and enter separate elements that make up the total expense/income amount. This is particularly useful when you need to split larger transactions (multiple item receipts or invoices) but don't want to create separate records for each item. In the above example, the itemized expense transaction entered under the category "Entertainment" and tagged with "restaurant" and "friends" would look like this:

Item No Name Expense Amount
1 Wine 46 USD
2 Appetizer 27 USD
3 Salads 35 USD
4 Main course 77 USD
5 Mineral water 12 USD
6 Dessert 43 USD
7 Tip 10 USD
Total 250 USD

If you want to recall how much exactly you paid for the wine while eating out with your friends, you just find this specific transaction using our advanced search functionality and take a look at its items.

With the itemized transaction feature you can keep tabs on every dollar you spend and easily determine any discrepancies when the total amount doesn't match. With our personal finance manager you can rest assured that you'll always know how and where you spend your money. Streamlining your personal finances will lead to effective budget planning and money saving.

Published at December 13, 2011 19:45
Updated at February 04, 2012 11:31

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