JOSEPH VIDHYA KSHETRA SENIOR SECONDARY

SCHOOL

COMPUTER SCIENCE PROJECT

EXPENSE MANAGEMENT

FRAMIT.F
HARISH.S
KUMARAGURU.M
PRITHIVE.K
 ACKNOWLEDGMENT

I would like to express a deep sense of thanks and

gratitude to my project and guide Mrs. Priya mam
for guiding me immensely through the course of the
project. She always evinced keen interest in my
work. Her constructive advise and constant
motivation have been responsible for the successful
completion of the project

My sincere thanks goes to Mr. Manoj, our principal

sir, for his co-ordination in extending every possible
support for the completion of this project

I also thanks to my parents for their motivation and

support. I must thanks to my classmates for their
timely and support for completion of this project

Last but not the least. I would like too thank all
those who had helped directly or indirectly towards
the completion of this project.
 INTRODUCTION

Now a day’s people are concerned about regularity of their

daily expenses. This is done mainly for keep a track of the
users’ daily expenses to have a control of users’ monthly
expenses. We have developed an android application
named as “Expense Tracker Application” and this
application is used to manage the user‘s daily expenses in a
more coherent and manageable way. This application will
help us to reduces the manual calculations for their daily
expenses and also keep the track of the expenses. With the
help of this application, user can calculate his total
expenses per day and these results will stored for unique
user. As the traditional methods of budgeting, we need to
maintain the Excel sheets, Word Documents, notes, and
files for the user daily and monthly expenses. There is no
as such full-fledged solution to keep a track of our daily
expenses easily. Keeping a log in diary is a very
monotonous process and also may sometimes lead into
problems due to the manual calculations. Looking on all
the above given conditions, we are trying to satisfy the user
requirements by building a mobile application which will
help them reduces their burdens. “Expense Tracker
Application” is an application where one can enter their
daily expenses and end of the day, they know their
expenses in charts.
OBJECTIVES OF PROJECT EVALUATION

There are several important reasons business use project

expense tracking. Here are some benefits to using expense
tracking for this projects.
Ability to monitor costs incrementally : Tracking expenses
throughout a project provides you the ability to view
various expense categories and time periods. This can help
you understand how much money you can spend for the
rest of the project while staying within your budget.

Allows for budgeting on future projects: If you

record your expenses for the project, you can use that
information to budget for similar future project. For
example, if you license software to complete a project you
can include that budget if you need to use that software for
other initiatives.

Improved decision-making: By tracking your

expenses, you can make more informed decisions than if
you didn't know how much you spent. You might spend
additional money on resources to keep a project on
schedule, but if you knew ‌these expenses might make the
project over budget, you could explore other options.
Reimbursed staff: Sometimes, employees may pay for
certain expenses while working on a project. By tracking
these costs throughout a project, you can identify what
costs to repay.

Organized expense tax information: Many

companies may itemize their expenses for tax purposes. By
tracking these line items throughout a project, it can be
easier to organize and prepare your business records for
taxes and audits.
 SYSTEM DEVELOPMENT OF LIFE CYCLE

To build this project, we will need the following libraries:

Tkinter – To create the GUI.
messagebox – To display a box containing
information, warning, or error or asking a question.
Ttk.Treeview – To display a table in the GUI window.

Tkcalender.DateEntry – To enter a date.

SQLite – To connect the Python script to the SQL

database.

Only the Tkinter library comes pre-installed with Python,

so you need to run the following command in your
terminal to install them:

Project File Structure:

Here are the steps you will need to execute to build this
project:

1. Importing the necessary modules and libraries

2. Connecting to the database and creating the GUI
window
3. Creating the database and data manipulation functions

Let’s take a closer look at these steps:

1. Importing the necessary modules and

libraries:

Explanation:
In this step, we will import all the libraries and
modules that we will use to create this project.
 2. Connecting to the database and creating the
GUI window:

1. In this step, we will connect our Python script to the

SQLite database. Here all the information will be stored
and our GUI window.
2. To connect to the database, We will create a connector
instance using the sqlite.connector (<database name>) to
create a database, activate it and perform functions in the
database using the script.
3. To create our GUI window, we will first create a Tk
object that will become our main window. Then we will set
its basic attributes and move onto placing components and
widgets in it.
4. Our first widget is the static text saying “Expense
Tracker” (a Label widge5. Next, we have three Frame
widgets (widgets containers inside a window) that will
contain different aspects of our GUI window.

6. The frame on the left side of the window contains Labels

and Entry fields. Here the details about a new expense can
be entered, or the details about an existing expense can be
viewed. This frame also has two buttons, one that adds the
expense to the database when pressed. The other can show
how you read the expense, before you add it to the
database.
7. The frame on the bottom-right side of the window
contains a Treeview object. This acts as a table where the
data from the database tables is displayed.

8. The frame on the top-right side of the window contains

the buttons that can perform certain operations on the
expense selected in the table, or the database as a whole
such as editing the selected expense, converting it to
words, delete it or delete the entire database.t) packed at
the top of the window.
3. Creating the database and data
manipulation functions:
 In this step, we will create all the functions for all the
buttons on our Expense Tracker window.

 The one common thing in all the functions is that we

will make the scope of all the Entry fields and the
database connector in the left frame global by using
the global keyword.

 One common thing in all the functions that perform

an operation regarding one single expense is that if
there is no selection in the table, it will display an
error message using the mb.showerror() function.
 Another common thing in all the functions that deal
with data are two statements, connector.execute()
and connector.commit(). The first statement takes
an argument, which is supposed to be an SQL
command, is used to execute that argument as in an
SQL engine and the second one is used to finalize that
change and perform it in the database.
 In the list_all_expenses() function, we will delete
all the children of the table, then get all the data from
the database table using the connector’s SELECT
command and then we will insert all of it to the table
using the .insert() method of it.

 In the view_expense_details(), we will get the

values in the currently selected item of the table. Then
set the values of the StringVar, IntVar or DateEntry
variables to the corresponding indices of the tuple
containing the values of the said selected item.

 In the clear_fields() function, we will set all the

StringVar variables to an empty string and the
DataEntry variable to the current date.

 In the remove_expense() function, we will get the

values of the currently selected item in the table, and
ask the user if he really wants to delete it. If he/she
wants to delete it, we will delete it using the DELETE
command in the execute-commit method combo of
the connector.

 In the remove_all_expenses() function, we will

first ask the user if they are sure that they want to
delete all the expenses that we have stored for them
using the messagebox.askyesno() function. If they
reply yes, we will delete using the DELETE * FROM
<tablename> command as an argument to the
 connector.execute() and the connector.commit()
methods.

 In the add_another_expense() function, if any of

the Entry fields is empty, we will display an error
message box, otherwise we will enter the INSERT
command in the connector’s execute-commit methods
combination, then clear all the entry fields and display
the updated table.

 The edit_expense() function only makes changes in

the components present on the window. However,
with the nested edit_existing_expense() function,
we get the contents of the selected record in the table
and then use the UPDATE command to edit the data
in the table with the help of the ID of the expense,
which the user cannot edit.

 In the selected_words_to_expense() function,

we will simply check if there is a selection in the table.
If there is, we will display an information box with the
message telling the user how to read the expense
using the mb.showinfo() function.

 The expense_to_words_before_adding() is to tell the

user read their expense before they add it to database.
That they are confident with the data entered, it will
be interpreted by others. In that function, we will take
the contents of the Entry fields and do something
similar to the previous function, if the user presses
yes, the expense will be added to the database.
LIMITATIONS AND FUTURE SCOPE

LIMITATIONS
Monitoring the expenses associated with processing,
paying, and consolidating a business is crucial for its
success. In fact, the expenses of the company can directly
impact its bottom line. Quite interestingly, a large number
of companies are still reliant on the old-fashioned methods
of managing and monitoring expenses. You can easily find
many organizations which still rely on spreadsheets and an
envelope full of receipts. No doubt, this manual process of
recording expenses is inefficient and outdated. Whether
you are a large-scale organization or a start-up, it is
important to possess a payment and consolidation process
that complies with your company’s needs.

Employee expense settlement is a tedious and challenging

process for both the company and the employees. Usually,
every organization implements specific guidelines which
need to be adhered to. In a majority of the cases, collecting
data and submitting it to the accounts department is a
cumbersome task.

In the absence of an automated system, the accounts

department has to verify the claims manually. These
tedious procedures justify the requirement for an
automated expense management platform. With these
things in mind, let’s take a glance at the top things that can
make expense management a chore for your business.
Fraudulent Documents
To be precise, in the absence of an automated expense
management platform, expenses can be forged. Moreover,
you will also encounter the rise of fake bills among your
employees. With expense management software, the
organization can set policies that make capturing and
supporting expenses made by employees compulsory.

In short, it eliminates the apprehensions about a false

reimbursement. Apart from fraudulent documents, a
complete lack of control can also emanate in the absence
of an expense management software solution.

As most finance teams will tell you, the absence of pre-

defined expense limits and the requirement of completing
expense reports are some of the biggest roadblocks. With
an expense management software platform, you can set
spending limits for your employees. Moreover, it will also
save your finance team from surfing through receipts as all
financial history would be well documented in the cloud.

Lack of Security
There is no denying that security is an important
component of any payment and expense management
solution. With the help of expense management software,
you will be equipped with cutting-edge security to secure
your business from theft and potential misuse of funds. No
doubt, there will always be a certain level of the human
element involved when discussing security.

Do you know that an automated expense management

system can generate prepaid cards that you can issue to
your employees? For instance, if the employee of your
company lost the corporate card, you can keep their
account safe by making the necessary changes in the
expense management platform. In short, if you want to
safeguard your corporate accounts from fraud and other
security risks, opting for expense management software is
important.

Lost Receipts
When you manage expenses manually, there is always the
risk of losing receipts. Moreover, at times, an employee or
the reporting manager may misplace the entire bundle of
receipts. This can usually lead to bitterness between you
and the employee. This is because it can take months to fix
the commotion.

However, when you use an expense management software

platform, everything will be digitized. There is no need for
you to worry about misplaced receipts and paper trails.
You can access the reimbursement history from anywhere
and anytime, which exudes practicality. As you can see,
there are several issues that can arise in the absence of an
automated expense management platform. Note that the
claim process will be very cumbersome with the traditional
expense management processes.

However, submitting the claims and reimbursing the

employees will become easier when you have an
automated expense management platform. With an
automated platform, managers can approve claims as and
when they appear. This will help accelerate the claim
approval process. With an automated expense
management platform, there is no need for you to go
through credit card statements manually. With the
software, you will be able to tally expense claims with
credit card statements. Opt for expense management
software to fine-tune your industrial operations.

FUTURE SCOPE
Expense management software solutions have come a long
way from being mere reporting tools. They have evolved
because of the advances in the spheres of automation and
artificial intelligence. Expense management software that
employ the latest technology are an absolute must-have for
every organization, irrespective of the size or industry.
Companies have been gradually adopting expense
management software in a bid to mitigate the losses
associated with expense frauds and wasted time. The
speed of adoption and change, however, needs to keep
pace with emerging trends in the industry.
Technavio analysts believe that the travel and expense
management (T&E) software market will grow at a CAGR
of 12% in the period 2019 – 2023.
In 2018, companies made advances in expense
management practices such as digital transformation and
moving ERP systems to the cloud adopting software with
user-centric design and interface accepting spending
outside of preferred channels. 2019 will see a continuing
upswing in the sophistication of software capabilities and
maturity in expense management practices.

Here are some of the recent trends that expense tools will
adopt in the near future:

1. Mobility
Businesses are becoming increasingly global and
employees are more mobile than ever. According to the
Certify Expense Management Trends Report 2018, 47
percent of organizations felt that mobile applications and
accessibility were a critical capability of expense reporting
software.
Expense management software will begin to respond to
this change in the manner that people work by facilitating
mobility. Employees will be able to submit reports and
managers can approve the claims from a smartphone.
Also, mobile applications will become more intuitive and
responsive, encouraging greater adoption.
2. Travel booking
According to a 2018 study by Tripactions, 90 percent of
respondents believe that travel is important for growth.
However, 50 percent of employees don’t use the corporate
travel solution offered by their organization owing to
difficulties and the time taken to book a trip. They prefer
using consumer channels.
Using multiple external vendors and disjointed channels
to book travel can become tedious and lead to a lot of last-
minute chaos. Also, the expenses have to be recorded
accurately in the expense management system. It’s
imperative to integrate the same into expense
management software.

3. Integrated system
In 2019, expense management software will begin to
consolidate currently disparate actions into a seamless
system with credit cards, bank accounts, accounting,
payroll, CRM, and more in one place. All these systems
share a lot of common information, and it makes perfect
sense to connect all these to ensure data integrity.
When integrated with travel applications and travel
management company (TMC) solutions, transactions can
be entered directly into the system without the need for
manual input. Corporate cards can also be linked to the
software, which makes it easier to reconcile credit card
statements with expense reports.
4. Optical character recognition
According to 66 percent of respondents from the Certify
Expense Management Trends Report 2018, ease of use
was the top-most feature needed. Traveling employees
spend a lot of time filling out expense reports. By using
expense management software, businesses brought down
the time and cost of expense reporting. This will further go
down with advancements in OCR technology.
Optical character recognition (OCR) will be one of the
significant ways in which the ease-of-use of expense
management tool will be enhanced. It eliminates the need
to manually input data from receipts into forms. It will
also facilitate mobility.
Employees could just snap a picture of a receipt and have
the software extract all the necessary information from it
to fill a report. OCR technology is accurate up to 95
percent and doesn’t need too much human intervention to
verify the information that’s been uploaded.

5. Artificial intelligence
As machine learning and artificial intelligence (AI) evolve,
they will add to the sophistication of expense management
software. There will be improved ability to assign expense
general ledger codes based on submissions and smarter
categorization of expense types. Rudimentary versions of
this exist in a few tools that use rule-based categorization.
AI-powered automation is also expected to minimize
fraudulent expense reports. It can monitor, track, and
approve expenses, and compliance-related issues will
immediately be flagged and eliminated.
 REQUIRMENTS

BASIC FEATURES
 Tracking income and expenses: Monitoring the
income and tracking all expenditures (through bank
accounts, mobile wallets, and credit & debit cards).
 Transaction Receipts: Capture and organize your
payment receipts to keep track of your expenditure.
 Organizing Taxes: Import your documents to the
expense tracking app, and it will streamline your
income and expenses under the appropriate tax
categories.
 Payments & Invoices: Accept and pay from credit
cards, debit cards, net banking, mobile wallets, and
bank transfers, and track the status of your invoices
and bills in the mobile app itself. Also, the tracking
app sends reminders for payments and automatically
matches the payments with invoices.
 Reports: The expense tracking app generates and
sends reports to give a detailed insight about profits,
losses, budgets, income, balance sheets, etc.,
 E-commerce integration: Integrate your expense
tracking app with your eCommerce store and track
your sales through payments received via multiple
payment methods.
 Vendors and Contractors: Manage and track all the
payments to the vendors and contractors added to the
mobile app.
  Access control: Increase your team productivity by
providing access control to particular users through
custom permissions.
 Track Projects: Determine project profitability by
tracking labor costs, payroll, expenses, etc., of your
ongoing project.
 Inventory tracking: An expense tracking app can
do it all. Right from tracking products or the cost of
goods, sending alert notifications when the product is
running out of stock or the product is not selling, to
purchase orders.
 In-depth insights and analytics: Provides in-built
tools to generate reports with easy-to-understand
visuals and graphics to gain insights about the
performance of your business.
 Recurrent Expenses: Rely on your budgeting app
to track, streamline, and automate all the recurrent
expenses and remind you on a timely basis.
 Budget Vs. Actual Spent: This is one of the most
common features in an expense tracking mobile app.
The user gets a detailed insight into the real-time
income and expenditure. Thus, you can plan your
budget strategically to reduce unnecessary expenses.

AI-BASED FEATURE
 Robo Advisors: Get expert investment advice and
solutions with the Robo-advisors feature. This feature
will analyze, monitor, optimize, and improve
diversification in investments by turning data into
actionable insights in real-time.
 Chats: Equip your expense tracking app with a bot
that can understand and answer all user queries and
address their needs such as account balance, credit
score, etc.
 Prediction: With the help of AI, your mobile app can
predict your next purchase, according to your
spending behavior. Moreover, it can recommend
products and provide unique insights on saving
money. It brings out the factors causing fluctuations
in your expenses.
 Employee Travel Budgeting: Most businesses
save money with a travel budgeting app as it helps
prepare a budget for an employee's entire business
trip. The feature will predict the expenses and allocate
resources according to the prediction.
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