1.Background/ Problem Statement

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.

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.

The blockchain is a decentralized storage system that stores data in a sequence of blocks connected by cryptographic hashing of previous blocks. In this project, the front-end involves Html, CSS, and JavaScript and the back-end involves ASP.NET. The IDE used is Visual Studio and the database is MSSQL.

1. Working of the Project

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.

1. Advantages

• It is easy to maintain.
• It is user-friendly.
• This system helps in tracking the expenses of an organization.
• It will help organisations forecast their finances, identify cost-cutting opportunities, and identify growth opportunities.
• Reports will enable the comparison of current year and previous year expenses.

1. System Description

The system comprises major 2 modules with their sub-modules as follows: 

• ADMIN (COMPANY ADMIN)

• Login
• The admin logs in to the system using a username and password.
• Accountant Details
• The admin adds the details of accountants responsible for tracking expenses.
• View Income Details
• Income details added by the accountant will be listed, along with a status if the entries were modified or tempered.
• View Expense Details
• Expenses details added by the accountant will be listed, along with a status if the entries were modified or tempered.
• Reports
• Comparison of previous years of expenses and income.
• View Feedback
• Feedback or Suggestion from employees can be listed here.

• ACCOUNTS DEPARTMENT

• Register
• The employees register with their basic details.
• Login
• They can log in to the system using a username and password.
• Add Income
• The accounts department can add income with details. 
• View Income Details
• Income details added by the accountant will be listed, along with a status if the entries were modified or tempered.
• Add Expense
• The accounts department can add expenses with details.
• View Expenses
• Expenses details added by the accountant will be listed, along with a status if the entries were modified or tempered.
• Reports
• With reports comparison of previous years of expenses and Income can be done.
• Feedback
• Employee can share their experience related to the system or suggestions regarding finance.

1. Project Life Cycle

The waterfall model is a classical model used in the system development life cycle to create a system with a linear and sequential approach. It is termed a waterfall because the model develops systematically from one phase to another in a downward fashion. The waterfall approach does not define the process to go back to the previous phase to handle changes in requirements. The waterfall approach is the earliest approach that was used for software development.

1. System Requirements

1. Hardware Requirement

1. Laptop or PC

• Windows 7 or higher
• I3 processor system or higher
• 4 GB RAM or higher
• 100 GB ROM or higher

1. Software Requirement

1. Laptop or PC

• Visual Studio 2019
• SQL Server Management Studio’s latest

1. Limitation/Disadvantages

• The income and expense details must be entered correctly or else it will lead to the wrong outcome.

1. Application – This application allows the organization to forecast finances by tracking expenses and income.

1. Reference

• https://www.researchgate.net/figure/Financial-monitoring-and-tracking-system-in-place_fig2_343079709
• https://www.researchgate.net/publication/330677439_Economic_and_Financial_Monitoring_of_Research_Organizations
• https://www.oecd.org/env/cc/48073739.pdf