An excellent personal finance manager supports double-entry accounting with great features.
|Link||Money Manager Expense & Budget
|Double-entry accounting, neat interface, account grouping, live charts, instant statistics, multiple currencies, export, backup and restore.|
|Ad supported, the number of accounts is limited although it can be overcome.|
To manage income and track expenses more closely and know where to save, it is a good practice to make use of personal finance tools.
One of such finance tools that ideally fit the bill is Money Manager. It is an effective personal finance app for tracking income and expenses, and manage assets and liabilities on a mobile device.
The app applies double-entry accounting system with multiple accounts of your choice. Each of these accounts is editable and can be grouped together with others for ease of management and analysis.
The user interface is neat and easy to operate with Material Design.
In the Transaction tab, you can conveniently enter an income or expense transaction, or do a transfer between accounts. In addition to each transaction detail, you can instantly view the total income, expenses and balance for a certain period.
In the Stats tab, income and expenses are analyzed by category using percentages with a pie chart, and a line chart lets you monitor monthly changes in a category.
In the Accounts tab, total assets, liabilities and net worth are clearly shown, and their monthly changes are revealed in conducive line and bar charts.
Other features available in Money Manager includes budget setting, recurring transactions, passcode protection, export, backup and restore.
All these features make this app a very helpful and convenient financial tool to use.
Unfortunately, the free version is supported by ads and allows for a maximum of 10 accounts only, which may not be sufficient for average users. Nevertheless, by recommending this app to your friends or relatives, you can earn points to undo this limitation and enable other premium features when they register your code.