Essential Features

The features I want to implement for version 1.0 are as follows:

• Account Management
  • Add accounts like bank, credit card, investment account, etc. to manage inflows/outflows of money
  • Display current balance of each account
  • Automatic import of transactions through Banking APIs
  • Each account should have a graph to visualize the balance over time
  • Another graph to visualize the outgoing money by category/tag would also be nice
  • Transactions may have multiple categories associated with them (e.g. you go to the super market and buy electronics/food/etc. and want to split it into electronics/food category)
• Transaction Management
  • Add transactions which interact with accounts by adding/substracting money from them
  • Transactions should have a date, amount, payee, category and optional tags/description
  • Recurring transactions should be possible to setup (e.g. monthly payments)
  • Have an overview screen that lists transactions from all accounts and detailed lists filtered by account, category, etc.
• Reports
  • Net Worth => bar chart displaying the net worth/debt over time
  • Outflows report => pie chart breakdown of outflows by category/tag/payee and a bar chart to show the trend for each category/tag/payee over time
  • Cashflow report which lists all categories and their associated income/expenses grouped by month/year/customizable timeframe
  • Simple inflow/outflow statement that gives the inflow and outflow of money for a month so you can easily see if you are saving money or are spending it
• Budget
  • Allocating money to categories and giving the information how much money is still available to budget
    • Saving Goals
      • A user should be able to setup a saving goal with a specific target amount which can be worked towards
      • Transactions directed towards the saving goals should decrease the remaining amount needed to achieve the goal
      • Progress should be visualized and a time estimate to achieve the goal should be provided based on the average saving amount per month

These goals require considerable work and should maybe go into the next version:

• Investment Account Tracking
  • Have specialized investment accounts which take into account current asset prizes (stocks) to give an accurate net worth overview (if stocks appreciate the net worth should do too)
  • Provide charts for stock prices if possible
  • Provide information about dividends if possible
  • Import of statements from investment accounts (prototype for etoro.com) to integrate those transactions
  • Provide risk scores for assets (There are established ways to calculate those based on volitility and other factors)
  • Have a note section for each asset purchase to provide user a way to document the reasoning behind the purchase
    • Good way for the user to later identify mistakes in decision making and improve upon them
• Indicators (which could be consumed from external sources)
  • PMI Indices