Events – Expense grouping made easy!

Posted on 27 November 2012 by Vikram

Introducing a new way of tracking expenses from a travel, an onsite trip, a birthday party at home or even a wedding! We term such an occasion as an “Event”.

From Track Every Coin’s perspective, what are Events?

An event can be an occasion that has a definite start and an end time that you would like to track separately. For instance ‘A 7 day trip to Singapore’ can be an event that you would like to track separately in Singaporean dollars. Once the trip is over you can consolidate the expenses back in your base currency on your Track Every Coin account.

Following are the feature updates.

When you login to your Track Every Coin account, you will see a NEW tab called “Events” as shown below.

To create a new event, click on the “Add Event” button.

You can give a name for the Event, select a date from which the event will start, enter a budget for the event if you wish or leave it defaulted to 0 and choose the currency to track the event expenses.

In the below case let us select USD as the currency for the Event – “New York trip”.

Once an Event is created, the Event will have a Status called “In Progress”. You can now start adding expenses into this event.

Please note that since the currency of the event has been chosen to be USD, all the expenses under the event will be in USD.

When you expand the Event “New York” trip by clicking on the Event, you will see the following:

  • An independent budget for this event – Helps you in having a goal for the trip
  • A whole new set of categories for this event – Yes, you can edit your event categories and keep them separate from your regular expenses
  • An Event specific pie chart to view category wise expenses for the event
  • Ability to mark expenses as “Reimbursements” or “Normal” – Helps you keep company expenses separate from personal expenses

Once all the expenses are entered for an Event, you can click on the ‘Finish’ button to complete an Event. Upon completing an event, all the expenses from the event gets consolidated to your regular expense under the ‘Expense’ tab and will update the expense on the money-meter.

If the event was in a currency different from your base currency, you can provide the currency conversion rate. The category of the consolidated expenses from the event can be chosen along with the Event’s end date.

Also, please note that our “reimbursements handles multiple currencies, i.e. If you have reimbursements already added in say INR and now on your trip you have marked a few expenses in USD, it is taken care of.

At the end of your trip when you click on “Email” button, the mail contains individual currencies for your expenses.

As avid travelers ourselves, we have started using this feature passionately. Hope you find this feature useful too!

As always, we love to hear from you. Do let us know your feedback and what we can do better. We will try to accommodate them.

23 Comments

  • At 2012.11.27 03:19, Sudhir said:

    Very cool feature. I think this will be an extremely helpful feature. Kudos guys!!!

    • At 2012.11.27 03:22, Vikram said:

      Thanks so much. It means a lot to us! We are equally excited about this feature. :)

      • At 2013.02.11 18:24, Pawan said:

        Thankyou so much.. A good feature to update the expenses…
        A small request..
        Its better when you give an option of adding categories to the users in addition to the template categories. So that each user can add some extra categories depending upon their usage and that extra category is subjected to only himself

  • At 2012.11.27 04:23, Chaitanya said:

    This will be very handy. Currently I created a separate category called “Special Events” to track my event related expenses. But this feature is very handy. Good work Vikram. Thanks heaps.

    • At 2012.11.27 07:32, Vikram said:

      Thanks Chaitanya. We are happy to note that you like the feature. :)

    • At 2012.11.27 09:18, William said:

      Hi, the feature is nice. The only issue is that when the event is Finished, it adds the expense as a single expenditure at a particular date, which may work for some. But i was wondering if there could be a feature to allow the user to decide whether he/she wants to add the expense to a single day or split it according to the dates mentioned while adding the expenses for the event. :)

      • At 2012.11.27 18:58, Vikram said:

        Thanks for the feedback William. I agree to your point. Going forward we will figure out a way to link the expense added as regular expense back to events (integrating category distribution).

      • At 2012.11.27 10:31, Nityananda said:

        This is a very useful feature Vikram!
        Keep the innovative stuff coming!

        • At 2012.11.27 18:58, Vikram said:

          Thanks. Appreciate your feedback :)

        • At 2012.11.28 12:07, William said:

          Some feedback:

          Say we add an event on 27-Nov-12 for an event starting on 26-Dec-12. We add certain expenses under the event and leave it “In progress” as we may need to add more expenses. Now we go to the expenses tab.

          1. If I select year 2012 and click “Go”, the line chart shows me the expenses of the whole year including the “In Progress” expense in December, which is great. But then if I click quarter, and select the Oct – Dec, 2012 option and click “Go”, the “In Progress” expenditure is not factored in. This does not seem right.

          2. I guess earlier, even if the current month is November 2012, we were allowed to choose a future month such as December 2012. But this is not happening now. But then if we want to see a future month, the Dates option with the “Start” and “End” Date is working. But again in this case, the “In Progress” event is not showing up.

          • At 2012.11.28 20:31, Vikram said:

            Thanks for your feedback. Expenses added under events will not be shown under regular expenses unless finished.

            Can you please verify if the expense added under “In progress” was visible when you selected “Year”. We tried this and it doesnt show up.

            The concept of events is to keep your expenses separate until you want them to be merged back to your regular expenses. As events can also have multiple currency it is best to keep it separate until the event is completed.

            • At 2012.11.30 10:38, William said:

              Hi Vikram,

              Get your point about “Expenses added under events will not be shown under regular expenses unless finished.” So no issues on that.

              I verified again this morning and it shows up in “Year”. I have taken certain snapshots if you would like to see them, just let me know where to send it to. :)

              • At 2012.11.30 19:36, Vikram said:

                Thanks for pointing this out. Please do send us the screenshots at: contact[@]ionlab.in

                We really appreciate your help.

          • At 2013.02.10 23:08, Abhinandan said:

            Hi,

            This looks like a great app to track my day-to-day expenses. Loving it. Few issues though I’d like to point out or clarify:

            1. I created an account today. Ho do I enter my current balances and investments made?

            2. How about displaying a holistic view of the investments made till date and a predicted returns for a specific time period give the interest rates added for PPF, FD etc. I think that can be a really great selling point of this app.

            3. Can I maintain 2-3 accounts I pay from say ICICI, HDFC etc and then track expenses from each of them. Also included can be CREDIT CARDS. This will give me more overall view of my whole array of expense possibilities.

            I see a great future of this too if updated regularly and few of these features added. Just like MINT. Cheers !!!

            • At 2013.06.08 01:31, Vikram said:

              Hello Abhinandan,

              Thanks for your feedback. We have noted down all your suggestions. We currently do not support investments. Something for the future :)

              Entering all your income and expenses will give you 2 important things, your monthly savings and also your net savings.

              Thanks for the encouragement.

            • At 2013.05.01 19:57, girish said:

              I am using TEC for a while and using all flavors (web, desktop and android app). Facing an issue with Desktop one for sync issue. When I sync desktop entries going to web one, but entries entered directly on web are not shown in desktop app.

              Thanks in advance.

              • At 2013.05.28 07:17, Vikram said:

                Thanks for your comment. Unfortunately desktop application is currently a one way sync. We are figuring out a solution for this. We will let you know. For now please use the web application directly as it has a lot more features than the desktop application.

              • At 2013.07.03 16:27, Anil said:

                Hi,

                While creating event got an error.

                500 Error
                Oops! Our system encountered an unexpected error. Do retry again.

                Have retried several times. Same error.

                • At 2013.09.03 03:31, Vikram said:

                  Hi Anil,

                  Thanks for pointing this out. We have found this error and will be fixing soon.

                  In fact we will soon be releasing a new update on Events which will fix the current problem.

                  Please bear with us until then.

                  Regards,
                  Vikram

                • At 2013.10.18 15:39, Christina said:

                  I made an event but when I had went to add and expense I could not choose a category. In fact, there were none listed to choose from. So i check if it was possible in the regular expense category and that was fine. I am using internet browser Safari if that makes a difference.

                  • At 2013.11.07 02:43, Vikram said:

                    We had a problem with our event module. It should be up and running now. Please delete your old events and create a new event. Let us know if it works ok.

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