Functional requirements of Financial Management System with non-functional

Functional Requirements

1. User Authentication and Authorization
   • Allow users (e.g., individuals, financial managers, administrators) to create accounts, log in, and manage their profiles.
   • Implement role-based access control to manage permissions based on user roles (e.g., admin, user, manager).
2. Account Management
   • Support the creation and management of financial accounts, including checking, savings, and investment accounts.
   • Provide tools for viewing account balances, transaction history, and account statements.
3. Transaction Management
   • Allow users to perform and record various financial transactions, including deposits, withdrawals, transfers, and payments.
   • Provide features for scheduling recurring transactions and managing transaction categories.
4. Budgeting and Expense Tracking
   • Enable users to create and manage budgets, including setting budget limits and tracking expenses against budgeted amounts.
   • Provide tools for categorizing expenses, tracking spending patterns, and generating budget reports.
5. Financial Reporting and Analysis
   • Generate financial reports, including income statements, balance sheets, cash flow statements, and expense reports.
   • Provide analytics on financial performance, trends, and key metrics for decision-making.
6. Investment Management
   • Allow users to track and manage investments, including stocks, bonds, mutual funds, and retirement accounts.
   • Provide tools for monitoring investment performance, calculating returns, and managing portfolios.
7. Tax Management
   • Support tax calculation and filing, including tracking deductible expenses and generating tax reports.
   • Provide tools for tax planning and estimating tax liabilities.
8. Bill Payment and Management
   • Enable users to set up and manage bill payments, including scheduling payments and tracking payment history.
   • Provide reminders and alerts for upcoming bills and payment due dates.
9. Data Integration and Import
   • Support integration with external financial institutions, accounting software, and payment systems for data import and synchronization.
   • Provide tools for importing transaction data from bank statements and other financial sources.
10. Alerts and Notifications
    • Send notifications and alerts for important events, such as upcoming bill payments, budget limits exceeded, and account activity.
    • Allow users to configure notification preferences and settings.
11. User Interface and Experience
    • Provide an intuitive and user-friendly interface for managing financial accounts, transactions, and reports.
    • Ensure ease of navigation and accessibility features for users with different needs and abilities.
12. Data Security and Privacy
    • Protect user data, including financial and personal information, with encryption and secure access controls.
    • Implement measures to prevent unauthorized access, data breaches, and financial fraud.
13. Documentation and Support
    • Provide user manuals, help guides, and support resources for troubleshooting and training.
    • Offer technical support for system issues and user assistance.

Non-Functional Requirements

1. Performance
   • Ensure quick load times for financial data, reports, and transactions.
   • Handle high volumes of data and user requests efficiently.
2. Scalability
   • Support the addition of new features, accounts, and users as the system grows.
   • Scale to accommodate increasing data volumes, user traffic, and transaction activity.
3. Reliability
   • Ensure high system availability with minimal downtime, especially during peak usage periods.
   • Implement backup and recovery procedures to protect data and ensure business continuity.
4. Security
   • Protect user data with encryption and secure access controls.
   • Implement measures to prevent unauthorized access, data breaches, and financial fraud.
5. Usability
   • Provide an intuitive and user-friendly interface for managing financial accounts, transactions, and reports.
   • Ensure ease of navigation and accessibility features for users with different needs and abilities.
6. Maintainability
   • Design the system for easy updates, maintenance, and troubleshooting.
   • Provide clear documentation for system administrators, developers, and support personnel.
7. Compatibility
   • Ensure compatibility with various devices (e.g., desktops, tablets, smartphones) and web browsers.
   • Support integration with different operating systems and platforms for a seamless user experience.
8. Data Integrity
   • Ensure accuracy and consistency of financial data, including transactions, balances, and reports.
   • Implement validation checks and error-handling mechanisms to maintain data quality.
9. Support and Documentation
   • Provide comprehensive user manuals, help guides, and support resources for troubleshooting and training.
   • Offer technical support for system issues and maintenance.
10. Auditability
    • Maintain logs of system activity, user interactions, and data changes for auditing purposes.
    • Provide audit trails for account management, transaction processing, and financial reporting.