Last week we added three table reports that will help you keep close track of household expenses and better understand your spending habits within certain categories or resources. You can gain deeper insight into your personal finances and evaluate the efficiency of your money management strategies by grouping income or expense transactions. InEx Finance online expense tracking software offers powerful reporting tools to facilitate family budget planning and quickly retrieve the financial data you need. The recently added reports will come in handy if you want to make an in-depth analysis of your spending or saving activity:
1. Transaction Resources Grouping – this report gives you the possibility to create a group of resources you want to track your income or expenses for and limit your search results to a selected group of categories. You can leave out any resources or categories that are not relevant to your analysis and select a custom date range for reporting. For each selected resource, the system will list the total income and/or expense amount along with the number of associated transactions in the grouped categories. A click on the transaction number will redirect you to the Transactions Filter report, that shows a detailed view of all the transactions that have been accounted for.
Practical Example: You want to track your cumulative expenses on "Entertainment" (category 1) and "Restaurants" (category 2) paid with your Visa card (resource 1) as compared with those paid with cash (resource 2).
2. Transaction Categories Grouping - this report enables you to compare the total income and/or expenses for a selected group of resources by categories of interest. You can choose a particular category or categories and track all your spending/saving occurring within a group of resources. For each selected category, the system will display the total income and/or expense amount along with the number of associated transactions recorded in the grouped resources. A click on the transaction number will redirect you to the Transactions Filter report, that shows a detailed view of all the transactions that have been accounted for.
Practical Example: You want to compare all your expenses on "Food" (category 1) with all your spending on "Clothes" (category 2) paid only with your American Express card (resource 1) and MasterCard (resource 2) (by leaving out cash expenses).
3. Transactions Filter – this report gives you broad flexibility in grouping all your resources and categories as you need it and filter your results by a custom date range. The system will list all your income/expense transactions recorded in the selected categories and resources during the indicated time-frame.
Practical Example: You want to view all your expenses on "Public transport" (category 1), "Car" (category 2) and "Taxi" (category 3) paid with cash (resource 1) during April 1 - April 17.
With InEx Finance personal money management and budgeting tools you may rest assured that all financial transactions are properly accounted, so that you can keep your spending under control and find ways to optimize your personal finances.