A complex and reliable financial accounting application that provides complex tools suitable for both home and business users alike
GnuCash review by publisher The GnuCash Project: What is GnuCash software from The GnuCash Project, what is it used for and how to use it?
GnuCash is personal and small-business financial-accounting software, freely licensed under the GNU GPL and available for GNU/Linux, BSD, Solaris, Mac OS X and Microsoft Windows.
Designed to be easy to use, yet powerful and flexible, GnuCash allows you to track bank accounts, stocks, income and expenses.
As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports.
[Basic account relationship]
Every transaction must debit one account and credit others by an equal amount. This ensures the books balance: the difference between income and expenses exactly equals the sum of assets and liabilities.
The GnuCash checkbook-style register provides a custom, convenient and familiar interface to entering financial transactions.
The register supports common checking and credit-card transactions, as well as income, stock and currency transactions. The following features are also provided:
The ability to enter split transactions
The ability to mark a transaction as cleared or reconciled
Autofill of entered transactions
The ability to display multiple accounts in a single register window
A summary bar that displays all of the relevant account's balance information
Many options to customize the appearance and the display style
You can create recurring transactions with a high level of customization of amounts and timeline. You can also set an automatic reminder when a transaction is due.
An assistant that runs when GnuCash is started allows scheduled transactions to be postponed without canceling or entering them before the due date.
GnuCash has an integrated module to display graphs of your financial data in the form of:
GnuCash also comes complete with a full suite of standard and customizeable reports, such as:
Profit & Loss
and many others.
Graphs and reports can be highly and easily customized in appearance and contents, in order to fullfill every user's need.
Account reconciliation allows the user to compare the transactions entered in an account against a bank statement. This operation is very useful to spot untracked transactions or data entry errors and ensure that your books match the bank's.
The GnuCash reconcile tool with running reconciled and cleared balances makes reconciling against bank statements an easy task.
Income/Expense Account Types
Income/Expense Account Types (Categories) allow you to categorize your cash flow. When used properly with the double-entry feature and equity accounts, these enable you to generate reports, such as Profit & Loss, that plain-vanilla systems cannot handle.
Small Business Accounting Features
Simplify managing a small business with Customer and Vendor tracking, Jobs, Invoicing and Bill Payment, and Tax and Billing Terms.
Using A/Receivable and A/Payable accounts you can even manage payrolls for your employees.
GnuCash gives you also a tool to manage your business' budget so that you can easily plan your financial strategy.
Different accounts can be denominated in different currencies. Currency movements between accounts are fully balanced when double-entry is enabled.
Stock/Mutual Fund Portfolios
Track stocks individually (one per account) or in portfolio of accounts (a group of accounts that can be displayed together).
Online Stock & Mutual Fund Quotes
Get Stock & Mutual Fund quotes from various web sites, update portfolio automatically. Additional pricing sources are added regularly.
Data storage and exchange features
Experimental database support
GnuCash by default stores data in an xml format. Starting with version 2.4, GnuCash financial data can be stored in a SQL database using SQLite3, MySQL or PostgreSQL.
Note this feature is considered experimental. It works for most of the common use cases but some corner cases have been reported to result in data loss. The GnuCash developers fix each issue as it gets reported. There is however no full test coverage so there may still be scenarios left that result in data loss.
QIF and OFX Import
If you are migrating from other financial software, GnuCash can import Intuit® Quicken® QIF files using a practical assistant.
GnuCash is also the first free software application to support the OFX (Open Financial Exchange) protocol that many banks and financial services are starting to use.
A transaction matching system ensures that duplicate transactions are accurately recognized and automatically deleted during file import.
GnuCash is the first free software application to support the German Home Banking Computer Information protocol, allowing German users to perform statement download and initiate bank transfers and direct debits.
GnuCash runs on many different operating systems including Windows, MacOSX and Linux.
GnuCash handles internationalized dates and currencies. The application's menus and popups have been translated to 50 languages, including Chinese, Danish, French, German, Hungarian, Italian, Japanese, Norwegian, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Ukrainian, and British English. Documentation is available in English, French, Portuguese and Spanish.
A powerful transaction query dialogue can help you quickly locate a needle in a haystack.
Checks may be printed in standard formats on common check stocks. A customization GUI allows custom check layouts to be developed.
Mortgage & Loan Repayment Assistant
A guided dialogue for setting up loan payments as scheduled transactions.
User Manual and Help
GnuCash is very well documented: along with the application Manual, new users can take full advantage of the Tutorial and Concepts guide. This document gives background information on accounting principles and how they are reflected in GnuCash with many practical examples described step by step.
GnuCash is a software product developed by The GnuCash Project and it is listed in Business category under Accounting & Finance. GnuCash is a free software product and it is fully functional for an unlimited time. You can run GnuCash on Mac OS X 10.5 or later (Intel only) operating systems. GnuCash was last time updated on 30.11.-0001 and it has 0 downloads on Download.hr portal.