GnuCash is an open-source money management software that you can install on Linux, Windows, and Mac OSX platforms. It features financial calculations, graphic reports, mutual fund accounts, double-entry accounting, transaction matching, scheduled transactions, and small-business accounting. It supports multiple currencies and complete localization to 21 languages. GnuCash is available as a free download. The Android version of the software is available in Google Play Store. It supports data exchange between the mobile and desktop version of the software.
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GnuCash Review and Overview
Unlike old times, accounting and bookkeeping have been entirely eased up with the help of accounting tools. These apps are present in both free and paid subscriptions and offer features accordingly. Depending on the business size, one can either opt for open-source or paid accounting tools.
GnuCash is one such open source accounting tool that offers a wide range of features, including a double-entry accounting option. Its code is developed to rival even the likes of a paid tool like Intuit. The program can be used on Linux, OpenBSD, Solaris, macOS, Windows, and Android. The program was initially written in 1997, with a release in 1998. With time, it supported induvial accounting as well as small business accounting.
GnuCash for Individuals and Small Business Accounting
GnuCash, even being a free product, bids one of the exhaustive and unique UI for its users. It is mostly a single-user system, with checkbook registers, double entries, statement reconciliation, and electronic banking transactions. GnuCash has divided its services as core, advanced, data storing & exchange. The program is written in C with Scheme and uses Java for Android. It has got over 6.3 million downloads, excluding the downloads over Linux distributions.
In the primary features, GnuCash begins with the basic double-entry system. Using this, a balance is maintained between debiting from one account and crediting to others. The checkbook style register offers a typical financial entry register, with tools to split transactions, clear/reconcile tags, autofill, multi-account display, scheduled transactions, and different style customizations.
Reports and Graphs are generated via bar charts, pie charts, and scatter plots. Reports are available in balance sheets, profit/loss or portfolio statement, etc. Statement reconciliation is another excellent tool in it. It even has income and expense account categories. Under Advanced features, GnuCash offers Small Business accounting with invoicing and credit note features.
It’s loaded with A/R and A/P, expense voucher, payroll management, depreciation, income tax schedule, tax tables, and other advanced features. You can also use it for multiple currencies and include stock/mutual fund quotes and portfolios. They provision XML, SQL database, with QIF/OFX imports, including HBCI support for German users. Overall, once you’ve picked the pace with GnuCash, it offers all essential accounting elements.
Company Name: The GnuCash Project
Founded in: 2001
- Double Entry
- Checkbook-Style Register
- Spliting Transactions
- Reconcile Transactions
- Multiple Accounts
- Display Customization
- Scheduled Transactions
- Statement Reconciliation
- Income Accounts
- Expenses Accounts
- Vendor Tracking
- Payrolls Management
- Budget Management
- Multiple Currencies
- Mutual Fund Portfolios
- Stock & Mutual Fund Quotes
- Balance Sheet
- Profit & Loss
- Portfolio Valuation
- Display Graphs
- Experimental Database Support
- QIF and OFX Import
- HBCI Support
- Mortgage & Loan Repayment Assistant
- Check Printing
- Multiplatform System
- Local Languages and Currencies
- Transaction Finder
- Check Printing