Expense Manager - inevitable cashflow tracking app

Since becoming a proud owner of a smartphone, all my financial transactions became easier to record, look up and what's more important, to evaluate and analyse (unlike my older paper style).

Having my handy almost always with me (Google&Co stop prying on me!), noting a movement of my funds is just at my fingertips. Since every expense/ income is typed in immediately or at latest in the evening when I put my phone on charger, not a single payment or income would go unaccounted for.

In my opinion, ExpenseManager is best designed to track down single expense, consequently to understand and evaluate cashflow in order to potentially adjust personal spending habits. Having this on mind, let's start with defining categories:

What areas of expenditures we want to have overview about? Just about your kitchen or the whole household or even entire personal cashflow?

EDITING

It's possible to change spelling, however, first letter in category name is set automatic to a capital letter. Keeping labels and merchants names short (but at least 3 characters long to make use of auto-suggest feaure) let you see more info in the overview.

One may add or delete items under Settings ( Expense categories) even later - but remember that each change would only add a new line on the app library. However, editing current labels doesn't effect previous records. I suggest to run a 'Search for' function to see real affect of the respective change.

 

SECURITY

version 1.8.1 provides PIN access already!

Well, money is a sensitive matter, really worth of some access restrictions - a password setup might be here the first thing to do! But keep on mind that you are gonna open this app pretty often during a day (in order to save yourself troublesome hours after a longer break).

On the other side: this is not your bank account where all your savings are at a risk of being stolen. But just why should we disclose all private data to random person?

Futher into actual usage of this app, I try to log out manually (Exit option in app) every sign-in required app (iBanking/ bookkeeping/ eBay ... - actually everything that does anything with my money or my presence on the web). On Android it's possible to change phone settings that every and each app after leaving it will be shut down by system. But that would prevent me from working among several sign-in apps at the same time (copying a number from email to iBank app and retreaving another info from other app...) (under ICS and above:  /Settings/Developers Options - "Do not keep activities")

Security-wise, instead of password, an easy-to-type chart for PIN (at least 4 ciphers recommended) guard access to your data. Now I find it superfluous as long as the phone screen is secured by PIN, pattern or similar. ICS android update still enable user to access the phone's internal memory on PC when connected over USB cable (as long as screen is unlocked!) but this does not work under Linux.

ACCOUNTS

As travelling frequently, I have bank accounts in several countries - as in Europe - logically in several currencies. Additional credit card, leasing or paying back a debt or consumer loan may call for several accounts. Naturally, each and every account can be named individually and edited anytime  - with its own currency and initial balance. When exchange rate typed in manually - it won't retrieve this info from internet automatically.

Wihdraw money from ATM or transferring electronically funds from current to saving account or pay off a cc? To avoid manual typing in, there is TRANSFER button on homescreen for each account. It records time and day, tracking ID Nr of a transfer between two chosen accounts. Even offers additional user input info under Reference/ Nr.

BUDGET

Even before starting to writing down fund movements, for sake of keeping it realistic, let's set a budget as in the real life. Choose between just for one category as 'Food' with its subcategories (excluding AccountTransfers in account summary) or for all accounts altogether (including AccountTransfers).

The optional 'budget limit overrunning' notification, which appears in notification bar during a day, I find personally annoying - since opening the app several times a day to type in records, I see if I near my limit - set in advance through Budget.

For recurring payment, a specially dedicated button will record a desired transaction even for fix number of repetitions into the future  - optionally setting off a reminder-alarm to execute the particular fund movement in reality (internetbanking/ cash)

DATA BACK-UP

This app offer option to attach photo of a receipt - what makes claiming a guarantee within 24 month much easier. For the sake of mobility, I shoot a picture with stock camera, consequently edit and adjust it in CamScanner app to eliminate unwanted backround at sides. Currently my purchase receipts are backed up even online in picture format (.jpg) and via Dropbox even on my portable device Galaxy S4 active.

Useful app to process the picture of a receipt

Back-up can be saved locally - to SD card; sent as an email attachment in csv format or the whole database/ csv file saved online to Dropbox. (Access have to be granted manually on request). At the later case, each account will be saved separately as csv - makes it much easier to edit and evaluate data afterwards or to share them. As the whole app is designed simply yet rational, this feature is to be found in first screen under settings.

Genuinely, I prefer Dropbox cos it stores locally cached files on android device in original format:

... as seen on Total Commander for Android

Reversely, edited database can be again downloaded/ retrieved from above mentioned sources.

Syncing means unnecessary copies on SD and internal USB memory, therefore  photos and edited pictures of receipts in phone I delete - since now they can be collected from Dropbox any time from any device.

Worth of noting that all receipts for non perishable items (most of all electronics, clothes...) are labeled with an item description (handy, mouse, hammer ..) before online back-up. For the sake of keeping track of pairing receipt in the cloud or on memory card with database, filling in ExpenseManager and back-up of receipts (in DropBox) are done closely after each other. Eventually Ref / Check Nr. could be used here, but I prefer words over numbers.

The SEARCH option in this app make it possible to look up expense, income or both - within one or several accounts in a set timeframe;

for payee/ payer;

for method of payment

for description/ note

for Reference / Check Nr (I use this field for multifacet project i.e. holiday)

setting timeframe, accounts and keywords

entire project in overview

I use this search option for allocating shopping events in history as well as for specifying amortisation. 

search results for certain vendor

UPDATE 25/02/13- version 1.8.1

Absolutely positive change: A new field added 'Tag' - makes it possible to attribute a fund movement to a bussiness/ private or to a certain project. So now the Ref./Check Nr. field may be solely used for what it is designed for: listing number of receipt.

Under each account an account summary provide a simple yet comprihensive preset overview of  account/s by category / income / payment method / payee&payer / status (cleared or to be processed). Great help for keeping overview of actual balance in several accounts:

automatic calculation based on your input

Only now I discovered how to use autocomplete feature when filling in a payee/payer: for the first time one needs to type the name through 'edit button'. Afterwards start to type into the field right next  to payee/ payer - autocomplete pops up after typing first 2 letters, provides you with a list of registered entries starting with the same letters (case sensitive !).

... type just first 2 letters

Great help for PROCESSING CSV FILE without full desktop version of MS Office or alike:

Upload CSV file with the current database onto google DISC (free service) and tick in the checkbox 'Convert ... to the corresponding Google format'. However, this option is offered only when uploaded from desktop PC. Now you can enjoy full functionality of such a simple database file. Of course, reversely, edited and saved file can be downloaded as CSV file - in order to update the mobile app with the latest changes.

DATA BACKUP & EVALUATION

Having regular data backup in cloud/ memory card, the second grade of evaluation can be done due to comfort and editing options on PC. CSV file (comma separated value) - for me the most comfortable way is to edit in tab editor like MS excel or OpenOffice Tab Editor after importing data into relevant column.

Now comes the initial subdivision of categories into play: transforming data into graphs is here more pleasant experience as in the app native, even though extensive but 'comprised to small screen' graph - visialisation tool. (see latest update for data evaluation)

illustrative - just with few data

Cutting down data into desired categories, makes it clear where to make cuts and help to realise low or absent investment in certain category (for example non-existent expense on further education or self development and overflourishing expense on sweet treats ...).

"Always backup your work!" - says the clever man, "...and don't forget your password either!"

Screenshots taken following advice found on AndroidFact. Wish you an insightful perspective on your cashflow.

Currently enjoying this app on my Samsung Galaxy S4 active. Thank you for visiting Amazon store via this link: