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GnuCash is a free, open source, powerful financial-accounting software. It is a multi-purpose tool designed to help you with various financial related tasks. You can use it to keep the track of your bank accounts, income and expenses.
The software can operate on Windows®, OS X® or Linux operating systems. Supported databases include PostgreSQL, SQLite3 and MySQL (backend XML). You can try GnuCash for Android™ app (which is also what the GnuCash team recommends). The Android™ app allows you to keep track of your financial transactions "real-time" and you can import them at a later time to desktop version of GnuCash.
Note: The default storage is a gzipped XML file and that using a SQL database instead is optional. Furthermore the Mac app bundle supports only SQLite3 out-of-the-box; users of MySQL or Postgresql will have to build and install a dbd driver.
Trademark Note 1: Microsoft®, Windows® and other product names are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries.
Trademark Note 2: Mac and OS X are trademarks of Apple Inc., registered in the U.S. and other countries.
If you are in need of double-entry style accounting software that doesn't bust your budget, GnuCash is worth considering. It works across an array of platforms, functions without major flaws and is loaded with helpful features. This software can help an individual who desires assistance with his personal finances or someone who runs a small business. The best aspect of GnuCash is that it is completely free. It's a viable solution to other similar programs that require payment for use.
GnuCash was created to empower users to manage a wide range of accounting and finance-related tasks. Users will love the fact that this software helps solve challenges both large and small. GnuCash empowers users to track income, expenses, stocks and bank accounts. Go ahead and rely on GnuCash to track an array of accounts for your multi-department business, and you will be impressed by its comprehensive performance.
The GnuCash interface design is a bit plain, yet it functions fantastically. The presentation is easy on the eyes and quite intuitive. Overall, the GnuCash user experience leaves little to be desired. Anyone who has conducted online banking will find that GnuCash's system operates in a similar manner.
GnuCash really shines when it comes to the “bells and whistles.” It is chock full of helpful features including but not limited to the following:
- Double entry accounting
- Support for online banking
- Support for multiple currencies
- A checkbook style registry
- An array of graphic and reporting tools that users can customize
- Mutual fund and stock portfolios
- Managing/organizing income and expense account types
- Vendor and customer tracking
- HBCI support
- Billing and tax terms
- General accounting ledgers
- Transaction searches
- Transaction matching
- OFX and QIF support
- Bill payments and invoicing
- Statement reconciliations
GnuCash is quite the helpful software program that ameliorates the complexities and organizational challenges of personal finance and small business accounting. Yet it has one major flaw in the fact that it is not engineered to function with any sort of tax application. A large portion of individual users and business owners/managers require a program like GnuCash to seamlessly integrate with tax software to soften the burden of tax season. If you or your business require such an integration, GnuCash might not meet your demands. If the future versions of GnuCash function with standard tax tools, the masses will inevitably move away from Quicken applications to GnuCash's camp.
The Bottom Line
Anyone who is in search of double-entry accounting software that contains a diverse array of special features should give GnuCash serious consideration. However, those who rely on their financial software to communicate with their tax software will find that GnuCash comes up short. All in all, GnuCash is one of the best general public license (GPL) accounting software creations on today's market. An individual who has a solid understanding of financial management principles will get plenty of use out of this software program.