About WidenHome
"Do you need accounting? Yes, we need sundry accounting information. For example, when you think about buying a car, you need accounting information to judge if you can afford it, or have the car by renting or buying directly. In the same way, when you decide to enter the university to study, we will need to think about the cost (including school fee, teaching materials fee and so on), of course you will also think about the other incomes (the ability to get more satisfied job with high salary).
Is accounting important for you? Yes, accounting is very important for both your personal life and career, even though you are not going to be a professional accounting staff. For example, assume that you are the boss (or operator) of a restaurant, you are thinking about opening a new restaurant again in the nearby town, you will need to make a decision to open it or not according to the accounting information of the current restaurant. In addition, the bank will need to make a decision to support this expansion by providing fund or not according to this accounting information."
- An excerpt from the book "Accounting" ([US] by Carl S. Warren, James M. Reeve, and Philip E. Fess, 20th Edition)
Accounting method is a type of scientific system required by any organizations. It is a type of rules and regulations, accumulated in practice by human being gradually. Financial statement in an organization is just like the dashboard of an automobile, through which we can monitor operational state and potential issues intuitively in each link of the organization. Could a person or a family manage its finances scientifically by accounting method? Definitely yes, moreover it is a significative thing that is worth having a try.
While I was learning accounting, I developed WidenHome: A software, which is based on principles of accounting, manages personal or family finances scientifically. WidenHome provides two types of user interface. Popular user interface is for the users who don't know accounting, and the professional user interface is for the users who know accounting. By this design, even though you don't understand accounting, you can also get startted easily, and you will know accounting knowledge gradually while you are using WidenHome. WidenHome has been trying to implement the following three types of features:
- Keep Accounts: Through keeping accounts, we can collect day-to-day financial metadata, based on this data, this software can calculate and analyze automatically. WidenHome provides two ways for users to keep accounts. In professional mode, we can keep accounts by double-entry method, and in popular mode, we can keep accounts by specific types of journals, the users don't need to know accounting and they can use this way conveniently. The direct purpose for keeping accounts is that we can see the clear and accurate financial reports in the future, therefore, we need to reflect how much value does it have when we use traditional way to keep accounts by waste book, is it easy for statistics and analysis.
- Create Financial Plan: Creating financial plan is a process, which is based on our own experience, creates practical plan, and then guides our financial activity in the future. In WidenHome, the financial plan includes auto-record and budget. After we set the auto-record, this software can record the periodical and repetitive journals automatically, accordingly it makes sure the data is accurate and saves time for us. By financial budget, we can create plan for monthly income and expense according to previous financial situation, to guide our financial business of every month in the future.
- Look Over Financial Reports: For a person or a family, the accurate and professional reports are the most valuable and significative thing. Through the professional reports, we can find out the problems in previous financial activities, then think about it and create new profit growth point. Manage yourself and you family just like managing an enterprise. In such process, the users can sharpen their own ability unceasingly, improve individual or the family financial circumstance, and then they will get financial independence eventually.