Income/Expense Manager

Abstract

The Income/Expense Manager system is a common use of expense is an outflow of money to another
person or group to pay for an item or service or for category of cost. For a tenant rent is expense. For students or
parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often referred to as an expense
.An expense is cost that is “paid” or “remitted”, usually in exchange for something of value. The Income/Expense
manager system is accounting, expense has very specific meaning. It is an outflow of cash or other valuable asset
from person. Technically an expense management system I event in which an asset is used up or a liability is
incurred. In term of the accounting the expense management system reduce owner’s equity.