Best Income Expense Management System Using Python and Django

Income Expense Management System

A simple project on Income & Expense Management System is developed to help users manage their personal or household finances efficiently. Built using Python and Django, this web-based application allows users to record income and expenses, categorize them, set budgets, and generate detailed financial reports.

From a student’s perspective, this project is not only an excellent real-life application of the Django framework but also a practical tool for learning how web applications work in handling databases, authentication, and dynamic data visualization.

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Project Overview

Project Name	Income & Expense Management System
Language/s Used	Python, HTML, CSS, JavaScript
Database	SQLite3
Type	Web Application

Introduction

The Income & Expense Management System is a straightforward yet powerful web application that helps users keep track of their daily income and expenses. It’s specifically designed for people who wish to monitor their financial activities, understand spending patterns, and save money by maintaining a controlled budget.

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Users can record transactions, view financial summaries, and generate reports in both PDF and Excel formats. Each user has a secure account where they can update information, reset passwords, or sign in using Google authentication. The system’s responsive interface ensures accessibility across devices, making it a practical and easy-to-use tool for everyday financial management.

Available Features

Below are the actual features implemented in this project:

1. Income and Expense Entry

Users can create entries for both income and expenses by specifying transaction details such as date, category, description, amount, and payment method.

2. Category Management

Users can select from predefined categories or create custom ones. The system allows editing and deleting categories as needed.

3. Notes and File Attachments

Each transaction entry can include a note or a photo (for example, a bill or receipt), helping users maintain proof of transactions.

4. Monthly Budget Setup

Users can assign monthly budgets to categories and track spending progress accordingly.

5. Transaction Control

Users can edit or delete any transaction anytime for accurate records.

6. Financial Summary

The dashboard provides an overview showing total income, total expenses, and the remaining balance at a glance.

7. Reports and Analytics

Users can generate detailed reports for daily, weekly, monthly, or custom date ranges in both PDF and Excel formats. Visual pie charts display category-wise spending and income for quick insights.

8. Advanced Filtering

Reports can be filtered by date range, category, payment type, notes, or transaction amount.

9. User Account Management

• A welcome email is sent upon registration.
• Users can sign in using a Google account.
• Users can update their profile, change or reset their password.
• Users can download income and expense history in Excel format.

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Installation Guide (for Visual Studio Code)

Follow the steps below to install and run the Income & Expense Management System on your local machine using VS Code.

Step 1: Install Python and VS Code

Make sure Python (version 3.x) and VS Code are installed on your computer. You can verify Python installation using:

python --version

Step 2: Open Project Folder

Open VS Code, then navigate to:

File → Open Folder → Select the extracted “Income-Expense-Management” folder

Step 3: Create and Activate a Virtual Environment

Run the following commands in the terminal:

For Windows:

python -m venv venv
venv\Scripts\activate

For macOS/Linux:

python3 -m venv venv
source venv/bin/activate

Step 4: Install Required Dependencies

Install the project dependencies using:

pip install -r requirements.txt

Step 5: Run Migrations

Apply database migrations to initialize tables:

python manage.py makemigrations
python manage.py migrate

Step 6: Create a Superuser

Create an admin account for backend access:

python manage.py createsuperuser

Use the following test credentials:

• Username: admin
• Email: admin@example.com
• Password: Admin@12345

Step 7: Start the Server

Run the application using:

python manage.py runserver

Then open your browser and visit:

http://127.0.0.1:8000/

Complete Run (Email, Password & Full Local Run)

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This section explains how to run the system completely, including email functionality and user account actions.

Step 1: Activate Virtual Environment

Activate the virtual environment:

venv\Scripts\activate

Step 2: Create a .env File

Inside the main project folder, create a file named .env and add the following configuration:

SECRET_KEY=your_secure_key
DEBUG=True
ALLOWED_HOSTS=127.0.0.1,localhost

# Development Email Backend
EMAIL_BACKEND=django.core.mail.backends.console.EmailBackend

# (Optional) SMTP Email Configuration for real emails
# EMAIL_BACKEND=django.core.mail.backends.smtp.EmailBackend
# EMAIL_HOST=smtp.gmail.com
# EMAIL_PORT=587
# EMAIL_HOST_USER=your-email@gmail.com
# EMAIL_HOST_PASSWORD=your-app-password
# EMAIL_USE_TLS=True
# DEFAULT_FROM_EMAIL=your-email@gmail.com

If you’re testing locally, use the console email backend. It prints email messages directly to the terminal instead of sending real emails.

Step 3: Apply Migrations

Make sure your database is up to date:

python manage.py migrate

Step 4: Create an Admin and Test User

To create admin:

python manage.py createsuperuser

Admin credentials:

• Username: admin
• Email: admin@example.com
• Password: Admin@12345

You can also create a demo user through the website’s registration form:
Demo user credentials:

• Email: student@example.com
• Password: Student@123

Step 5: Run the Development Server

Start the application:

python manage.py runserver

Access the app at:

http://127.0.0.1:8000/

Step 6: Test the Features

Registration and Welcome Email

Register a new user. If the console email backend is active, the welcome email content will appear directly in the terminal. If you set up SMTP, you’ll receive it in your inbox.

Login and Dashboard

Log in with your registered account. The dashboard shows:

• Total Income
• Total Expenses
• Remaining Balance

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Add Transactions

Add new income or expense entries with all details (date, description, category, and amount). You can also attach a bill image or receipt.

Reports

Generate PDF or Excel reports by selecting date ranges. You can also filter reports by category or payment type.

Category and Budget Management

Create and edit categories, then assign budgets for each. This helps you manage how much you spend in specific areas each month.

Password Reset

Click “Forgot Password” on the login page, enter your registered email, and check the terminal (or inbox) for the password reset link.

Admin Dashboard

Access Django Admin at:

http://127.0.0.1:8000/admin

Login using:

• Username: admin
• Password: Admin@12345

From here, you can view users, manage transactions, and control categories.

Usage

This project includes two primary roles: User and Admin.

1. User Role

• Register or log in to your account.
• Record daily income and expenses.
• View category-based insights and charts.
• Edit or delete incorrect entries.
• Download reports in PDF or Excel format.
• Update personal information and reset passwords.

2. Admin Role

• Manage users and their records.
• Add, edit, or remove categories.
• Access and review all transactions.
• Maintain database integrity and settings.

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Why This Project Is Useful for Students

From a student’s perspective, this project is extremely valuable because it merges academic learning with real-world application.

1. Practical Development Skills
   Students gain hands-on experience with Django, database models, forms, and authentication systems.
2. Real-World Financial Utility
   The system teaches financial discipline and helps students keep track of their own expenses and savings goals.
3. Resume and Portfolio Enhancement
   A full-stack web project like this showcases technical proficiency in Python, Django, HTML, and SQL.
4. Customizable Framework
   Students can expand this project further by integrating APIs, charts, or cloud-based storage features.
5. Personal Finance Awareness
   It encourages better money management habits—an essential life skill.

Real-Life Applications

The Income & Expense Management System can be used by:

• Individuals tracking personal or household budgets
• Students managing monthly expenses
• Freelancers monitoring income from multiple sources
• Small business owners managing daily financial activities

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It’s a functional, easy-to-use, and scalable solution that can evolve into a professional finance management application.