1. Resource – is the source of money you handle in your everyday life. A Resource is the place where you store your earnings and later use this money to pay for goods or services. The most common types of Resources are: bank accounts, credit/debit cards and cash (money in your wallet).

2. Category – is the label you assign to your income and expenses. A Category defines the nature of your transaction, serving as an identifier to help you group and easily organize your financial data. You may create as many Categories as needed, for example: "Food", "Clothes", "Entertainment", "Salary", "Child Benefit" and so on. A Category can have several sub-categories.

3. Transaction – represents the actual recording of your money movements in and out of your Resources, as well as between Resources. A Transaction is necessarily linked to a Resource and Category. It also has a date, currency and amount. In InEx Finance there are 4 types of Transactions:

  • Standard (to designate your regular income or expense);
  • Transfer/Exchange (to designate currency conversations or transfers between Resources);
  • Correction (to make adjustments or record a Resource initial balance);
  • External Transfer (to designate transfer of funds among InEx Finance users).

4. Budget – is a monthly plan on income and expenses within Categories. A Budget defines specific spending limits or expected earnings, and also shows progress of your spending/saving activity during a month.

5. Event – is a rule with an associated preset template, according to which Operations are automatically generated. By their nature, Events can be one-time or repetitive (recurring). The Calendar is just a visual representation of all your past, present and future Events.

6. Operation – is a Transaction template generated from your Event. Operations are automatically created on the indicated dates and with the predefined frequency. Operations are not accounted for in any reports, since they must be confirmed before turning into regular Transactions.

7. Goal – is a special type of Resource, which stores the target amount you commit yourself to save by a certain date (for example: vacation or purchase of a new car). Moreover, a Goal also shows the funds you've already managed to save and the progress made towards reaching your Goal.

8. Credit – represents the amount of money you owe (your debts: auto loan, money owed to relatives) or the amount of money others owe you (your deposits: savings accounts, money lent to friends). Credits can be paid by installments or increased over time. A Credit has an expected return date by which the debt should be repaid or the deposit should be recovered.

Updated at December 31, 2012 13:40