The elements described below are based on the pro version, it is likely that in the free version some of these elements are not available.
The application is based on the principles of basic accounting. That is, you can create several accounts that have their own balance, make entries (income) and exits (expenses) accounts, and transfer balance from one account to another. Generate reports of the movements that were applied on a certain date.
The biggest advantage of using accounts is that the user can carry several accounts within the same application, then when selecting an account the application will show the expenses and income of that account, likewise when creating a report the accumulated sums of an account will be shown during a certain period.
The application allows the user to choose all the accounts, in this way the application will show in the list of movements, reports by date, reports by category and agenda the total content of each account.
To manage an asset account (Cash, Savings, Bank, etc.) you must create an account for income, in this type of accounts the balance is positive because it is money in your favor. When you add an expense your balance decreases and when you add an income, your balance increases. For an income account you must create a positive limit.
Transfers are used to pass balance from one account to another, for example, if you have $ 1,000 in your credit card and you want to pay $ 500 in cash, then you could make a transfer where the origin account is Cash and the destination account is Card 1 for an amount $ 500 and ready.
To manage a card it is necessary to create an account for expenses and assign a limit to spend, this way it will show you your current balance. In the cards the balance is usually negative because it is a money that you owe. Then to make a payment on the card you must do it from “Add Income”, selecting which account you want to enter, each payment is an income to your card and when you make a purchase you can do it from “Add Expenses” or from “Frequent Records” “(For installment payments).
On the right, the steps to edit an account are shown, it is possible to change the name, the icon that represents the account, the description, the limit and the type of account:
When the user determines that an account is not useful, there is the option to delete that account, the application will warn if there are linked records. If the user wants to delete all the records in the account, he must select the option that appears at the end of the “Delete records linked to this account.”
On the next screen we are transferring $ 5,000.00 Cash account and we are sending the balance to the Mortgage account:
Remember that an account in Daily Expenses, can be created for income or expenses, the accounts for income (assets) are for example cash, savings, bank account, etc. The accounts for expenses (passive) are accounts whose balance is usually negative (it is a balance that you owe) for example credit cards, mortgages, loans received, etc.