EXPENSE TRACKER SYSTEM

Submitted in partial fulfillment of the requirements of the degree

BACHELOR OF ENGINEERING IN COMPUTER

ENGINEERING
By

Soham Kandalkar / VU1F2122121

Kunal Rawal / VU1F2122123
Smit Patil / VU1F2122124
Vedhavarth Vasala / VU1F2122132

Supervisor

Prof:

Department of Computer Engineering

Vasantadada Patil Pratishthan’s College of Engineering
& Visual Arts
Sion, Mumbai - 400 022

University of Mumbai
(A.Y. 2023-24)
 CERTIFICATE

This is to certify that the Mini Project entitled “ Expense Tracker System ” is a

bonafide work of Soham Kandalkar(VU1F2122121), Kunal Rawal(VU1F2122123),

Smit Patil(VU1F2122124), Vedhavarth Vasala(VU1F2122132) submitted to the

University of Mumbai in partial fulfillment of the requirement for the award of the degree

of “Bachelor of Engineering” in “Computer Engineering” .

(Prof. Asharani Shinde)

Supervisor

(Prof. Dr Rais Mulla) (Prof. Dr. Alam N. Shaikh)

Head of Department Principal

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 INSTITUTE VISION & MISSION

VISION:

To provide an environment to educate, encourage and explore students by facilitating

innovative research, entrepreneurship, opportunities and employability to achieve
professional goals.

MISSION:

1. To Foster enterpreneurship And strengthen industry institute interaction to enhance

career opportunities for the employability of students.
2. To encourage collaborations with industries and academic institutes interms of projects
and internships by creating area for Research and Development .
3. To build up apropriate moral and ethical skills and to promoteholistic development of
students through various academic,technical,social and cultural activities.

COMPUTER ENGINEERING DEPARTMENT

VISION:

To develop a center of excellence in computer engineering and produce globally competent

engineers who contribute towards the progress of the engineering community and society as a
whole.

MISSION:

1. To provide students with diversified engineering knowledge to work in a

multidisciplinary environment.
2. To provide a platform to cultivate research, innovation, and entrepreneurial skills.
3. To produce world-class computer engineering professionals with moral values and
leadership abilities for the sustainable development of society.

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PROGRAM EDUCATIONAL OBJECTIVES (PEO's)
● To create graduates with sound fundamental knowledge of computer engineering.
● To enhance students' skills towards emerging technologies to propose solutions for
engineering problems and entrepreneurial pursuits, making them employable.
● To produce technology professionals with ethical values and commitment to lifelong
learning.

PROGRAM SPECIFIC OUTCOMES (PSOs)

1. Graduates of programme will be able to provide effective and efficient real time
solutions using practical knowledge in Computer Engineering domain.
2. Graduate of programme will be able to use engineering practices, strategies and tactics
for the development, operation and maintenance of software system

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 Mini Project Approval

This Mini Project entitled “ Expense Tracker System ” by Soham

Kandalkar(VU1F2122121), Kunal Rawal(VU1F2122123), Smit

Patil(VU1F2122124), Vedhavarth Vasala(VU1F2122132) is approved for the

degree of Bachelor of Engineering in Computer Engineering.

Examiners

1………………………………………
(Internal Examiner Name & Sign)

2…………………………………………
(External Examiner name & Sign)

Date:

Place

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 Contents
Abstract
Acknowledgments
List of Abbreviations iv
List of Figures v
List of Tables vi
List of Symbols vii
1. Introduction 1
1.1 Introduction
1.2 Motivation
1.3 Problem Statement & Objectives
1.4 Organization of the Report
2. Literature Survey 10
2.1 Survey of Existing System
2.2 Limitations of Existing system or research gap
2.3 Mini Project Contribution
3. Proposed System 18
3.1 Introduction
3.2 Architecture/ Framework
3.3 Algorithm and Process Design
3.4 Details of Hardware & Software
3.5 Experiment and Results
3.6 Conclusion and Future work.
4. References

Abstract
The Expense Tracker System is a comprehensive financial management tool designed to
empower individuals and businesses to effectively monitor, record, and analyze their expenses.
In an era where financial planning and budgeting are paramount, this project offers a user-
friendly and efficient solution to manage expenses.

This system leverages modern technology to enable users to input and categorize their
expenditures, creating a centralized repository of financial data. Users can easily track their
spending habits, set budget goals, and generate insightful reports. The system also features real-
time synchronization across multiple devices, ensuring accessibility from anywhere, anytime.

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Key features include intelligent expense categorization, customizable budgeting, and financial
goal setting. By fostering financial literacy and encouraging responsible spending, the Expense
Tracker System promotes better financial decision-making and helps users achieve their financial
objectives.

Overall, this project aims to enhance financial awareness and promote financial wellness,
fostering more responsible spending and informed financial planning. It serves as an invaluable
tool for individuals, families, and businesses seeking to maintain control over their finances in an
increasingly complex and dynamic financial landscape.

Acknowledgement
We would like to express our heartfelt gratitude to Mumbai University for providing us with the
opportunity to work on the "Expense Tracker System" project. We also extend our sincere thanks
to our project supervisor for their invaluable guidance and unwavering support throughout the
project. Their expertise and mentorship have been instrumental in the successful completion of
this endeavor. We are truly appreciative of the knowledge and experience we have gained during
this journey, thanks to their contributions.

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 1. INTRODUCTION
1.1 Introduction

The Expense Tracker System is a digital tool designed to simplify the management of
personal or business finances. It enables users to record and categorize their expenses,
track spending patterns, and set budget goals. This system provides real-time
synchronization across devices for easy access and offers features like intelligent
categorization, data visualization, and financial goal setting. It promotes financial
awareness, responsible spending, and informed decision-making, making it an
indispensable resource for individuals and businesses seeking to maintain control over
their finances in an increasingly complex financial landscape.

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 1.2 Motivation

Our team was motivated to create the Expense Tracker System by the need for a
practical and efficient solution to manage personal finances. We recognized the
challenges individuals and businesses face in tracking expenses, setting budgets, and
making informed financial decisions. This project was born out of a desire to empower
people to take control of their financial lives, fostering better financial literacy,
responsible spending, and the achievement of financial goals.

1.3 Problem Statement & Objectives

Problem Statement :

The problem addressed by the Expense Tracker System is the lack of an accessible,
user-friendly tool for individuals and businesses to effectively monitor, categorize, and
analyze their expenses. Managing financial records, setting budgets, and making
informed spending decisions are often cumbersome and time-consuming tasks. This
project aims to provide a streamlined solution to simplify expense tracking, promote
financial awareness, and encourage responsible financial management in an
increasingly complex and dynamic financial landscape.

Objectives :

 Expense Recording: Develop a user-friendly interface for recording expenses

efficiently, enabling users to input various types of financial transactions
accurately.

 Expense Categorization: Implement intelligent categorization to automatically

classify expenses into predefined categories, simplifying the tracking process.

 Budget Management: Enable users to set and manage budgets for different
expense categories, helping them stay within their financial limits.

 Real-time Synchronization: Ensure data is synchronized across multiple devices,

providing users with access to their financial information anytime, anywhere.

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  Data Visualization: Create visual reports and graphs to help users analyze their
spending patterns and financial trends more effectively.

 Financial Goal Setting: Allow users to set and track financial goals, such as
savings targets or debt reduction plans, to promote responsible financial planning.

 Data Security: Implement robust security measures to safeguard sensitive

financial information and maintain user privacy.

 Customization: Offer options for users to tailor the system to their specific
financial needs and preferences.

1.4 Organization of Report

1. Cover Page: this includes the project name, name of team members, name of the
2. project supervisor, name of college and university name.
3. Certificate Page: proof that the entitled mini-project is a bonafide of mentioned team
4. members submitted to the University of Mumbai in partial fulfillment of the
5. requirement for the award of the degree of “Bachelor of Engineering” in “Computer
6. Engineering” .
7. Next part includes the mission and vision of institute and department and PEOs and
8. PSOs.
9. Project Approval : contain the proof that the project has been approved.
10. Index : mentions the all the further contents of the report.
11. Main Body : contain the contents of the index explained in detail.

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 2. LITERATURE SURVEY

2.1 Survey of Existing System

Several existing Expense Tracker Systems are available to help individuals and businesses
manage their finances effectively. These systems offer a range of features to simplify
expense tracking, budget management, and financial analysis.

Mint is a popular web-based platform that connects to users' financial accounts, categorizes
expenses, and offers budgeting and goal-setting tools. QuickBooks is a comprehensive
accounting software tailored to businesses, providing expense tracking, invoicing, and
financial reporting. YNAB (You Need A Budget) emphasizes assigning every dollar a job,
helping users prioritize expenses and save for future goals.

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 Expensify simplifies expense reporting and reimbursement for businesses. PocketGuard
categorizes expenses, tracks bills, and offers insights into spending patterns. Goodbudget
uses digital envelopes for budgeting, while Personal Capital provides a comprehensive
financial dashboard. Wally is a mobile app that streamlines expense tracking and budgeting
with an intuitive interface.

These systems cater to diverse needs, enabling users to choose the one that aligns with their
specific financial management requirements.

We have also looked over few published papers over the Internet, these are the names of
following papers :

 Expense Manager Application, ICCPET 2020 Journal of Physics: Conference

series,2020.
 Expense Tracking System, 4TH International conference on electrical Engineering and
Information and Communication technology (iCEEiCT), 2018.
 Expense Tracking Application, International Journal of Advance Networking and
Application (IJANA),2018.

2.2 Limitations of Existing System or Research Gap

Existing Expense Tracker Systems offer valuable features, but they also come with limitations:

 Incomplete Categorization: Automated categorization may not always classify

expenses accurately, necessitating manual adjustments.

 Limited Customization: Some systems lack flexibility in tailoring categories, tags, or

reports to individual preferences and needs.

 Data Privacy: Users may have concerns about the privacy of their financial
information when using third-party systems.

 Learning Curve: Users may find some systems complex to learn and use, especially if
they are not tech-savvy.

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2.3 Mini Project Contribution

We believe that all the members of our team have equally contributed in making this project
a success. The project would not have been as successful as it is if we lacked any of our team
member. This project was completed with equal efforts from all the individuals who have
also helped each other in learning few more new things and honing each other’s technical
skills and ability to works as a team.

3. PROPOSED SYSTEM
3.1 Introduction

Expense trackers are available in various forms, including mobile apps and web-based
platforms. They facilitate the input of financial data, including receipts and transactions, making
it easier to organize and understand spending patterns. Users can set budget limits, receive alerts
for overspending, and generate reports to visualize their financial data.

Our Expense Tracker System is a digital tool designed to help individuals and businesses
monitor, manage, and analyze their financial expenditures. It simplifies the process of recording
and categorizing various expenses, such as bills, purchases, and investments, making it easier to
keep a detailed record of where money is being spent. These systems typically provide features
like expense categorization, alerts and budgeting capabilities, allowing users to set financial

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goals and track their progress. Expense trackers help users gain a comprehensive understanding
of their financial habits, identify areas for potential savings, and maintain better control over
their finances. Our systems play a crucial role in promoting financial responsibility and
optimizing financial management.

3.2 Architecture/ Framework

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3.3 Algorithm and Process Design

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 For our Expense Tracker System, a new user must first register himself or herself through
the Login/SignUp portal that appears as soon as your run the system. The user is required to
enter their required credentials into the portal to procced further. In case the user is already
registered, the user must enter the valid information to login the system. Once, the user is
successfully logged into the system, the Home page of users account must appear on the screen.
The Home page comprises of few navigating options such as dashboard, transactions, income
and expenses. The dashboard will show user its financial overview and display alerts if any,
regarding the user’s expenses. In case the user’s expenditure exceed their set limit, alerts are to
be displayed on the dashboard. Transaction section we provide the user with its entire history of
transaction that is money received and the money user spent of various items. The next would be
Income section. This show user that from were did he or she received the money. The Expense
section will show user the money spent of various items. The expenditure can be categorized into
various categories such as food, rent, clothes, insurance, etc. The categories can be customized
according to the needs of the user. Thus, according to the above procedure, our Expense Tracker
System helps the user to handle their finances in an efficient manner.

3.4 Details of Hardware & Software

To build our project we have used HTML 5, CSS 3, React JS & Atlas(MongoDB). Each
plays an important role in to make our Expense tracker system work. HTML5 provides the
structural foundation for the Expense tracker system, creating the layout and components for the
user interface. CSS3 is responsible for styling, enhancing the visual presentation and user
experience. ReactJS, a JavaScript library, handles dynamic interactions, allowing for responsive
and real-time updates in the web application. It provides a seamless user interface by efficiently
rendering components based on user input. MongoDB, a NoSQL database, stores and manages
expense data. ReactJS interacts with MongoDB through API calls, enabling users to save,
retrieve, and manipulate expense records. Together, these technologies create a cohesive system
where HTML5 structures the content, CSS3 styles it, ReactJS adds interactivity, and MongoDB
manages the data, resulting in a functional and visually appealing Expense tracker application.
We donot require any hardware components to make our Expense Tracker System work as of
now.

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3.5 Experiment and Results

While developing the Expense Tracker System, we had to go through many trials and
errors to make the system efficient and user-friendly. We had to discuss many user-friendly
layouts to make our system user-friendly. We had see that the data input by the user, is stored
appropriately in the database. We had to make some changes corresponding to errors faced
during the programming of this system. We have managed to solve all the errors and build an
efficient working system that portrays our group effort.

3.6 Conclusion and Future work.

Expense tracker systems continue to evolve with technological advancements and user
needs. Several potential future improvements can enhance their functionality:

 AI-Powered Expense Categorization: Integrating artificial intelligence can improve

automatic expense categorization. Advanced algorithms can accurately classify and tag
expenses by analyzing transaction descriptions, reducing manual input.

 Real-Time Data Integration: Connecting with banks and financial institutions for real-
time expense data updates can ensure users always have the most current financial
information at their disposal.

 Expense Predictions: Implementing predictive analytics can help users forecast future
expenses based on historical data, enabling better financial planning.

 Enhanced Receipt Scanning: Improved OCR (Optical Character Recognition) technology

can be used for more accurate and faster receipt scanning. Additionally, incorporating
augmented reality for scanning and storing receipts can be a user-friendly feature.

Expense Sharing and Splitting: Expense tracker systems could facilitate expense sharing among
users and simplify splitting bills for group expenses.

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 REFERENCES
 Expense Manager Application, ICCPET 2020 Journal of Physics: Conference
series,2020.

 Mint: A free web-based platform that connects to users' financial accounts, categorizes
expenses, and provides budgeting and financial goal-setting tools.

 QuickBooks: A comprehensive accounting software that offers expense tracking,

invoicing, and financial reporting for businesses of all sizes.

 YNAB (You Need A Budget): A budgeting app that focuses on assigning every dollar a
job, helping users prioritize expenses and save for future goals.

 Expense Tracking System, 4TH International conference on electrical Engineering and

Information and Communication technology (iCEEiCT), 2018.

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