Financial project management is straightforward with Hot-Accounts. Just define a project item and refer to it in all income and expense transactions that are related to that project. So it’s a kind of extra dimension that is added to your transactions.
Use the Budget Overview screen to get an overview of income and expenses for a certain project. You can also use a recently developed Cash Book in Excel for that purpose.
A project item can also be specifid in budget transactions. In that case, you can compare income and expenses for a certain project to budgeted amounts. Use the Define and Check Budget screen for such an overview.
A few usage examples
- You like to go on holiday and want to track the total cost of each of your journeys.
- you own one or more apartments that you rent out. So you monthly receive a rent but you also have expenses such as syndic costs, repairs, real estate office contribution, ownership taxes, etc. You want to track your real net income for each of these apartments.
- you buy a house, in order to sell it after renovation. Of course you want to track all expenses related to this project. In this case, it’s recommended to also create a budget.