SOFTWARE REQUIREMENT SPECIFICATION (SRS)

MONEY MANAGEMENT

INTRODUCTION
The Daily Money Management App aims to provide users with a highly intelligent
and adaptable platform for managing their finances. The app will prioritize
personalization and user-friendliness, offering various features and functionalities to
set it apart from other similar applications.
Money management is the process of tracking expenses, investing, budgeting,
banking, and assessing tax liabilities; it is also called investment management.
Money management is a strategic technique to deliver the highest interest-output
value for any amount spent on making money.
It is a natural human tendency to spend money to fulfil the cravings regardless of
whether they can be justifiably included in a budget. The idea of money management
techniques was developed to reduce the amount that individuals, firms, and
institutions spend on items that do not add any significant value to their standard of
living, long-term portfolios, and assets.

● PURPOSE

Managing your spending allows you to track where and how you spend your money.
Using your budget can help you see where you can make. Saving is a key to
financial independence and building wealth. Think of saving as giving a gift, or
paying a reward, to yourself.

● SCOPE

Financial planning and analysis: Preparing budgets, forecasts, and analyzes to set
corporate goals and allocate resources. Scanning performance against plans.

● OVERVIEW

Money management is one of the most important parts of your financial life.
Knowing how to how to budget, spend and save can help you reach your financial
goals, get out of debt, and build your savings. In this resource, you will learn how to
manage your money and find tips to help you get to where you want to be financially.
GENERAL DESCRIPTION

● User Registration and Authentication:

- Users should be able to create an account using their email or social
media accounts.
- Implement secure authentication mechanisms (e.g., password hashing,
two-factor authentication) to protect user data.

● User Profile:
- Allow users to create and manage their profiles.
- Enable users to input personal information, such as income, expenses,
and financial goals.
- Provide options for users to customize their profile settings and
preferences.

● Dashboard:
- Create an intuitive and visually appealing dashboard that displays an
overview of the user's financial status.
- Include widgets or cards showing account balances, income vs. expenses,
and progress towards financial goals.
- Provide the ability to customize the dashboard layout based on user
preferences.

FUNCTIONAL REQUIREMENT

● Expense Tracking:
- Enable users to track their expenses by category (e.g., groceries, utilities,
entertainment).
- Implement a user-friendly interface for adding, modifying, and deleting expenses.
- Provide options to set budget limits and receive notifications when nearing or
exceeding them.

● Income Management:
- Allow users to track their income from various sources (e.g., salary, investments,
freelance work).
- Provide options to categorize income and set up recurring income sources.
- Generate income reports and visualizations to help users analyze their earnings.

● Budgeting and Financial Planning:

 - Offer budgeting tools to help users allocate their income and expenses effectively.
- Provide personalized budget recommendations based on user profiles and
financial goals.
- Enable users to create and manage multiple budgets for different purposes (e.g.,
monthly, yearly).

● Goal Setting and Tracking:

- Allow users to set financial goals (e.g., saving for a car, paying off debt,
retirement planning).
- Provide progress tracking and visualizations to motivate users towards achieving
their goals.
- Offer personalized suggestions and strategies to help users reach their goals faster.

INTERFACE

1. On boarding

2. Sign up

3. Money report

4. Summary and expenses

5. Debt and loan

6. Saving and investment

7. Budget Report

8. Categories

9. Notifications

PERFORMANCE REQUIREMENT

● Summary of Transaction Pages

These pages display the summary of income and expenses. They can take a
 look at the detail of each transaction by tapping a transaction so that the

appearance looks simpler to avoid too many details.

● Debt and Loan page

These pages display the debt and loan report. They can check the detail of

each transaction by tapping a transaction. In addition, they can edit the detail

the debt/ loan. They can also see the pop ups that debts/ loans have been

payed.

● Budget Page

The budget pages allow users to check the budget and expenses within a

budget, budgets of the year, and a add new budget.

NON -FUNCTIONAL ATTRIBUTE

● Intelligent Insights and Recommendations

- Utilize machine learning algorithms to analyze user data and provide

personalized insights

- Generate reports, charts, and graphs to visualize spending patterns,

saving potential, and investment opportunities

- Offer intelligent recommendations for optimizing spending, saving,

and investment strategies.

● Notifications and Reminders:

- Send timely notifications and reminders to users for bill payments, budget

updates, and financial milestones.

- Allow users to customize notification preferences and frequency.

● Data Security and Privacy:

- Implement robust security measures to protect user data, including

encryption and secure data stores.

- Comply with relevant data protection regulations (e.g., GDPR, CCPA) to

ensure user privacy

● Integration with Financial Institutions

- Enable users to securely connect their bank accounts, credit cards, and

other financial institutions.

- Implement APIs or third-party services to fetch transaction data and account

balances automatically.

● Cross-Platform Compatibility: -

Develop the app to be compatible with major platforms, including iOS,

Android, and web browser -

Ensure a consistent and seamless user experience across different devices.