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Outgoing is an adjective that describes someone as friendly and sociable.

For example:-

He socialises a lot, he is a very outgoing person.

Outgoing can also be used as an adjective to describe leaving a place, or leaving a job, having finished a period of time in it.

For example:

The outgoing president has left the country virtually bankrupt. (It doesn't mean the president was sociable, just that he is leaving.)

Outgoings is a plural noun that describes the incurred by the owner of a business, usually calculated on a yearly basis, e.g. repairs, rates, insurance.

For example:-

The company was restructured to reduce outgoings.

See also outgoing vs going out.