Functional requirements of Personal Budget Management System with non-functional

Functional Requirements

1. User Management:
   • Registration & Authentication: Allow users to create accounts, log in, and recover passwords. Support multi-factor authentication for enhanced security.
   • Profile Management: Enable users to manage their profiles, including personal details, security settings, and notification preferences.
   • Role-Based Access: For multi-user setups (e.g., family accounts), support different roles with varying permissions (e.g., Admin, Contributor).
2. Budget Creation and Management:
   • Budget Setup: Allow users to create and customize budgets for various categories (e.g., groceries, utilities, entertainment).
   • Budget Allocation: Enable users to allocate funds to different budget categories and set limits.
   • Recurring Budgets: Support the creation of recurring budgets for regular expenses (e.g., monthly subscriptions).
3. Expense Tracking:
   • Expense Entry: Allow users to record and categorize expenses, including details such as amount, date, category, and notes.
   • Receipts and Attachments: Enable users to upload and attach receipts or documents to expense entries.
4. Income Tracking:
   • Income Entry: Allow users to record and categorize income sources (e.g., salary, freelance work).
   • Income Forecasting: Provide tools to forecast future income based on historical data and trends.
5. Transaction Management:
   • Bank Integration: Integrate with bank accounts and financial institutions to automatically import and categorize transactions.
   • Manual Transactions: Allow users to manually enter transactions not automatically imported.
6. Reports and Analytics:
   • Expense Reports: Generate reports on spending by category, time period, or specific accounts.
   • Budget Analysis: Provide analysis of budget performance, including variances between budgeted and actual amounts.
   • Financial Trends: Display trends and patterns in spending and income over time.
7. Alerts and Notifications:
   • Budget Alerts: Notify users when they are approaching or exceeding budget limits.
   • Expense Reminders: Send reminders for recurring expenses or upcoming bills.
   • Financial Goals: Notify users about progress toward financial goals (e.g., savings targets).
8. Financial Goals:
   • Goal Setting: Allow users to set and track financial goals (e.g., saving for a vacation, paying off debt).
   • Progress Tracking: Display progress toward financial goals and adjust based on actual income and expenses.
9. Data Export and Backup:
   • Data Export: Allow users to export financial data in various formats (e.g., CSV, PDF) for personal use or reporting.
   • Backup: Provide options for regular data backups to prevent loss of information.
10. Integration:
    • Third-Party Apps: Integrate with third-party financial applications or services for enhanced functionality (e.g., tax software, investment tracking).
    • API Support: Provide APIs for integration with other financial tools or platforms.

Non-Functional Requirements

1. Performance:
   • Scalability: Ensure the system can handle increasing amounts of data, users, and transactions efficiently.
   • Response Time: Maintain quick response times for data entry, report generation, and user interactions.
2. Reliability:
   • High Availability: Achieve high availability with minimal downtime to ensure continuous access to the system.
   • Fault Tolerance: Implement mechanisms to handle system failures and ensure uninterrupted service.
3. Security:
   • Data Encryption: Ensure encryption of data in transit and at rest to protect sensitive financial information.
   • Access Control: Implement strong authentication and authorization mechanisms to safeguard user accounts and data.
   • Compliance: Adhere to relevant data protection regulations (e.g., GDPR, CCPA) to ensure privacy and security.
4. Usability:
   • User Interface: Design an intuitive and user-friendly interface for ease of navigation and operation.
   • Accessibility: Ensure the system is accessible to users with disabilities, following guidelines such as WCAG (Web Content Accessibility Guidelines).
5. Maintainability:
   • Code Quality: Maintain high code quality and follow best practices to facilitate updates and maintenance.
   • Documentation: Provide comprehensive documentation for users and developers, including user manuals and system documentation.
6. Support:
   • Customer Service: Offer timely and effective support through various channels, such as live chat, email, and phone.
   • Help Center: Maintain a knowledge base or help center with FAQs, guides, and troubleshooting information.
7. Compatibility:
   • Cross-Browser Support: Ensure compatibility with major web browsers (e.g., Chrome, Firefox, Safari).
   • Mobile Responsiveness: Design the system to be fully functional on mobile devices, providing a seamless experience across platforms.
8. Backup and Recovery:
   • Regular Backups: Implement regular backups of financial data to prevent loss in case of system failures.
   • Recovery Procedures: Establish procedures for data recovery and system restoration to handle data loss or corruption.
9. Integration:
   • Interoperability: Ensure the system can integrate seamlessly with other financial systems and services, such as banking APIs and tax software.
   • API Flexibility: Provide flexible APIs to accommodate various integration needs with external systems.
10. Data Quality:
    • Accuracy: Ensure the accuracy and reliability of financial data, including transactions, budget amounts, and reports.
    • Timeliness: Provide timely updates to reflect current financial status and transactions.