Accounting for individual to keep track of daily and overall financial transactions and help maintain ones economy.
August 25, 2015 - Tue, 2015-08-25 22:49
Team's idea in one sentence
Problem solved by the application
- Every individual finds it difficult to keep track of income/expenses, to do the saving and planning of it.
- Different banks or financial institutions provide transaction details but keeping track of all and know ones economic status is difficult.
- Accounting system for individual is almost not available in the market.
All these problems are intended to be solved by this application
Main functions and elements of the application
- Accounting in easy interface and understandable without accounting knowledge.
- Offline usability as well as online synchronization based upon user subscription.
- Overview of different accounting groups and overall summary.
- Mutual transactions and verification between users.
- Notification about mutual transactions and reminder about transaction to be carried out.
- Multilingual and other setups for user preferences.
- News feeds update.
Targeted audience of the application
Medium or low income source persons and small scale businesses.
Main benefits of the application
- Track of income/expenditure and current saving.
- Synchronized data kept safe even if device data cleared.
- All different bank accounts, online accounts, income sources, expenditures, loan, lend money tracked and maintained at one place.
- Notification of mutual transactions and reminder for payment/collection to be done.
- Settings and preferences of own.
- Easy to use and understand.
- News feeds about best ideas to manage ones economy and success stories.
Platforms in which application will be developed in Android