Download Project Document/Synopsis
Financial tracking, also known as expense tracking, is the practice of keeping track of one’s income and spending on a daily basis. It is accomplished by recording receipts, invoices, and business expenses into some type of accounting ledger. It complements budgeting and is a useful tool for keeping track of business finances.
Our blockchain-based Organization Financial Tracking System will provide a clear idea of expenses and income, and allows the organization to forecast finances, identify cost-cutting opportunities, and identify growth opportunities.
In this system, the admin has all the details of the accountants responsible for tracking expenses. Income details added by the accountant can be viewed, along with a status if the entries were modified or tempered. Expenses details added by the accountant can also be viewed. With reports, it’s become easy to make a comparison of previous years of expenses and income. Admin can view all the employees.
The income details of all the employees added by the accountant will be listed for the accounts department to see, along with a status indicating whether or not the entries were changed or tempered. The accounting department is also able to add and view expense details that the accountant added, as well as a status indicating whether or not the entries were changed or tempered. They can compare current year expenses and income to those from prior years using the reports. Employees can share their system experiences or financial suggestions.
- It is easy to maintain.
- It is user-friendly.
- This system helps in tracking the expenses of an organization.
- It will help organizations forecast their finances, identify cost-cutting opportunities, and identify growth opportunities.
- Reports will enable the comparison of current year and previous year expenses.