![]() ![]() It’s User-Friendly: GnuCash is a user-friendly software. This method is known to reduce the likelihood of errors. You’re constantly balancing equations by making adjustments in two accounts. If you obtain $2,000 from a business loan, you’re also obtaining $2,000 in debt. It Uses Double-Entry Bookkeeping: Another one of GnuCash’s biggest draws is that it uses what’s known as “double-entry bookkeeping.” If you’re not already familiar with accounting software or accounting practices in general, this essentially means that for every action, there’s an equivalent action. GnuCash offers a robust set of accounting features absolutely free. Commercial accounting software can cost several hundred dollars, and while that may not be much for a large or even medium-sized business, it’s often beyond what a small-startup budget can handle. It’s Free: One of GnuCash’s most obvious benefits is its price. Stock Management: GnuCash has a feature that lets you track and receive quotes from stocks and mutual funds, making automatic updates to your portfolios based on data retrieved from websites. Mortgage & Loan Repayment: GnuCash can help you set up payment plans, not just for business loans, but for things like personal loans, student loans, auto loans even your mortgage.īudget: In addition to managing your company’s finances, you can balance your own budget too using GnuCash’s checkbook style register. You can use GnuCash with a variety of currencies, and with more than one currency at once.Įxportation Options: Come tax season, you can export all your data from GnuCash into your favorite tax preparation software. Multiple Currencies: GnuCash is not only compatible with the American Dollar. You can also use GnuCash to have employees fill out expense reports. It also comes with a variety of customizable reports, like balance and profit and loss sheets. Reports/Graphs: GnuCash can express your data in bar graphs, pie charts and scatter plots. Payroll Management: With Accounts Receivable and Accounts Payable options, you can use GnuCash for light payroll activities. Scheduled Transactions: GnuCash allows you to set up routine transactions for set amounts, while still being flexible enough for you to make changes or postponements. Invoicing: GnuCash allows you to create and print customized invoices for your business.Ĭheck Printing: With this feature, you can print standard checks or develop a more customized layout. Its latest version, 2.6.11, which included updates and bug fixes, was just released in January 2016. Compatible with Linux, Windows and Os X, it has received nearly 3 million downloads since 2007. Originally launched in 1998, it was initially developed as an alternative to Intuit’s Quicken, while including some small business accounting features as well. A free open-source project, GnuCash is a full-bodied accounting software. If you’re a sole proprietor, a small start-up, a non-profit organization, or just someone who wants to keep better track of their personal finances, you may want to check out GnuCash. ![]()
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