Top GnuCash Alternatives

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.