1. A system tangibly embodied on a computer-readable medium for sorting and reporting transaction information, comprising; a collection function automatically navigating to and retrieving transaction information associated with a specific person or enterprise from third-party Internet-connected web sites and gathering information concerning transactions, the transaction information including at least date, description, and amount of the transactions; an input function enabling a client to provide to the system a request for a summary of transactions over a specific range of dates, according to a definition of purpose of transaction including at least expenditure types; a processing function categorizing individual ones of the collected transactions according to at least part of the transaction description for determining the purpose of transaction using pre-stored description characteristics associated with the purpose; a compilation function summarizing the transactions that meet the purpose and fall into the specific range of dates; a reporting function for providing the summary of transactions to the specific person or enterprise; and a function storing past transaction history associated with the particular person or enterprise, wherein the past transaction history is used to predict future transaction statistical information, and wherein a probability algorithm is used in developing the description characteristics, wherein the description characteristics are periodically amended according to further information that is collected and processed.