Gnucash is a free product that has been around since 1997 and is a good alternative to Commercial accounting software programs. While GnuCash is well suited for personal finances, it is also powerful and versatile enough to keep track of all your business financial needs, from the simple to the very complex. GnuCash makes running the business so easy, that you can focus on the heart of what you do. It is an excellent and powerful program for a free product. It is designed to be easy to use yet powerful and flexible, enough for small business bookkeeping.
GnuCash Business Features
GnuCash has many features to support the needs of the business accounting community.
- Integrated A/R & A/P System
- Track Income And Expenses
- Track Customers
- Track Vendors
- Create And Send Invoices
- Bill Payment System
- Track Sales Tax
- Budgeting
- Track Employee Payroll
Import Transactions
- GnuCash supports many ways to input transactions besides manual entry. If you can access your bank accounts online, this is especially useful, as most banks and credit card companies support one of the following import methods. You will spend less time entering data and more time analyzing results.
- Quicken Import File (QIF): Import Quicken QIF style files, a popular file format with many commercial personal finance software packages.
- Open Financial Exchange (OFX): GnuCash is the first free software application to support the Open Financial Exchange protocol. Many financial institutions are moving towards this format.
- Home Banking Computer Interface (HBCI): GnuCash is the first free software application to support the German Home Banking Computer Interface protocol. This protocol includes statement download, initiates bank transfers, and makes direct debits possible.
Schedule Transactions
GnuCash now has the ability to automatically create and enter transactions, or remind you when these transactions are due, giving you the choice of entering, postponing or removing the automated
Reconciliation
- Easy Account Reconciliation: Integrated reconciliation makes reconciling your GnuCash accounts with statements simple and effective.
- Automatic statement reconciliation is also available in GnuCash, with banking transactions automatically downloaded and matched with system transactions.
Reports:
- GnuCash comes with over 30 prebuilt reports, including:
- Account Summary
- Income
- Expenses
- Transaction Report
- Balance Sheet
- Profit & Loss
- Portfolio Valuation, and many others.
- Reports support graphical views of the data, including pie charts, bar charts, and scatter plots.
- The reports can be exported to HTML files, and are easily customized.
International Support
There are many built-in features to facilitate interaction with the international world we live in today.
- Native Languages: GnuCash has been fully translated into 12 languages: Chinese, Czech, Dutch, English, French, German, Italian, Portuguese, Russian, Slovak, Spanish and Swedish. More than 25 other languages are partially supported.
- International Format Handling: GnuCash understands that different countries display the date and numbers differently. You are able to work with the date and number formats you are accustomed to.
- Multiple Currencies and Currency Trading: Multiple currencies are supported and can be bought and sold (traded). Currency movements between accounts remain fully balanced if “Trading Accounts” is enabled.
- On-line exchange rates: With GnuCash, you no longer need to look up your exchange rates one at a time. The process can be automated, to always present you with the account values converted to your preferred currency using the latest exchange rates.