CNET Editors' review
Although users with a solid grasp of financial management basics will get the most from this freeware program, GnuCash proved to be a capable tool for personal and small business accounting.
This freeware program's interface is bland but functional, and presents itself in a way that will be familiar to users who do their banking online. Various holdings (anything from checking accounts, to CDs, stocks and any other form of investment) are listed in a tree along the left side. Selecting an entry displays further details in a larger pane. At the top of the screen are various commands for actions, reports and tools. We found it a simple process to view spending reports, reconcile checking accounts, and other tasks.
Despite the overall simplicity of using the program, the sheer number of terms and actions may require a dictionary for some people. Fortunately, GnuCash has an excellent tutorial that outlines not only the program, but also financial terminology as well. And novice users will appreciate the wizard that walks you through the setup process.
GnuCash is an ongoing project and this isn't the latest release, but the developers warn that the 2.3 series is not stable and is for testing only, so stick with this earlier version. If you're overwhelmed by the number of personal accounts you're trying to manage, or you're trying to keep your small business on track financially, GnuCash is freeware you should try.
Publisher's Description
From The GnuCash Project:
GnuCash is personal and small-business financial-accounting software, freely licensed under the GNU GPL. It uses a check-book like register GUI to enter and track bank accounts, stocks, income and expenses. GnuCash is designed to be simple and easy to use but still based on formal accounting principles.
What's new in this version: Version 2.4.10 uses an SQL database using SQLite3, MySQL or PostgreSQL.
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All versions:
3.0 starsout of 31 votes
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Current version:
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"A great alternative to commercial accounting programs!"
Version: GnuCash 2.4.8
Pros
The software can be easily learned, having more than one avenue of user support including an online Owner's Manual (though this manual could use some work), a wiki site, and tech support that uses an IRC Chat environment. Journal Entries are easy to record. It has a nice Budget Reporting Module. Standard Financial Reports; Reports can also be customized (though it would be nice if reports could be exported into spreadsheets. Currently, they can only be exported into html files). These are all the functions that I have been exposed to so far. AND IT'S FREE!!! So, it's competitive with commercial accounting software packages (in my opinion).
Cons
It takes TIME to learn when a user has something specific they are trying to accomplish.
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"Excellent, Fast & Easy to Use"
Version: GnuCash 2.4.8
Pros
A clear, intuitive layout means that it is easy to navigate and use. Import from other programmes via QIF is simple and worry free.
Cons
Believe it or not, the ability to export reports in some kind of spreadsheet format would be ideal for setting household budgets
Summary
I read, with amusement, some of the comments written about GnuCash on here about being confused by some of the accounting conventions, when really most of it is just common-sense. Whereas my previous money-management software used categories of spending, e.g. electricity, car maintenance, etc., GnuCash simply creates accounts for them. Put simply, they are little pots of money: a pot of money in your bank account; a pot of money that you pay the electricity company; a pot of money that you pay a garage to service your car; and so on. As long as you have set everything up in the first place, a payment to the electricity company, for example, when suitably marked as "electricity", when you pay the bill, you can record it in your bank account, and the amount that you have paid will be debited from you bank account ledger, and copied across to the electricity account ledger, so you have a record of all you have paid the electricity company. Put simply, you move money between your various pots, with each pot representing your bank account, or one of the various accounts that you pay money to for goods or services.
It's not actually complicated at all, and once the penny drops, it is a very intuitive and very powerful programme that I have learned to trust. Even account reconciliation is fast and easy.
But the most important thing to me is integrity, and this software is accurate and gives me control over my spending and makes budgeting much easier.
Finally, two words of advice to make the transition much easier:
Firstly, take some time and trouble to read the manual, which is very interesting, as it explains the basics in clear English.
Secondly, write down the categories that you need to create accounts for. You can always add accounts later if you need to.
Overall, and excellent programme and is highly recommended. -
"And how is this not a SCAM to grab financial info...."
Version: GnuCash 2.4.7
Pros
None apparent, as the program trips anti-virus alarms and code errors upon RUN.
Want to communicate with the opaque humans in the background? Firefox fires off an alert that communications are not secure.
(If this is OpenSource, no wonder people must settle for Intuit.)Cons
No benefits apparent.
Summary
If you wish to risk your financial information being whisked away to Russia or Iran or China, GO FOR IT!
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"Excellent bookkeeping package, home and small business."
Version: GnuCash 2.4.7
Pros
Easy entry of data, intuitive
excellent tutorials
very flexibleCons
If not an accountant, there may be a steep learning curve.
Hard to get specific help although there appear to be plenty of options.Summary
This version has corrected most of the faults of previous ones. Amazing value considering that it is a free package.
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"If they fix the Printing bug it will get a 3"
Version: GnuCash 2.4
Pros
It"s Free !
Cons
GnuCash 2.4 will not print checks In Windows 7 (64bit)
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"Don't get this software"
Version: GnuCash 2.3.3
Pros
Easy to install.
Easy to import Quicken files.Cons
But now what do you do with them? The structure of the accounts is not logical or intuitive. It is just a big long list. And too much is not obvious. This software will require a lot of messing around with to understand it & make use of it.
Summary
If you can, use a spreadsheet. At least you can see what the numbers are and what is happening to them. This software is a good attempt, but seems a bit slap dash, put together on the cheap-type software
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"It works well and is not as hard as the review says."
Version: GnuCash 2.3.3
Pros
Good basic appllication. Does what I needed it to do.
Cons
I was not able to get a backup of the accounts but that may have been my issue.
Summary
Good basic system. I like it. I believe it also comes in Linux if you look.
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"Best Personal & Business Accounting Program, PERIOD!"
Version: GnuCash 2.3.3
Pros
Why? Are there no other programs as good? Yes, there are, but THEY'RE NOT FREE. This is an extremely powerful program that is under constant development and improvement like other programs. I have had no problems with this software!
Cons
It doesn't make my morning coffee... ;-)
Summary
If you're looking for an affordable (free) accounting program that is powerful, well designed, and simplistic in it's form, you have found the right program. GnuCash is really powerful and very professional in it's design. Some people whine and cry about how hard it is to learn because you need accounting knowledge to use it. Well, DUHHH, it's accounting. You shouldn't be using accounting software if you're not familiar with accounting concepts or at least willing to learn! Try using Peach Tree. You have to take a class, usually, to learn that program. But really, for personal use and business use alike, this is a hard-core program that works and works well without all the useless 'bling' other programs have. If your too weak-minded or too lazy to learn basic accounting principles, then grab a copy of MoneyDance for $50 and live in ignorance! Sorry, but I'm really sick and tired of all the crying about GnuCash on the Internet because.... 'sob, sob'... you need to know some basics of accounting.
Word of caution: This is version 2.3.3. I recommend you find the gnucash webite (dot org), and download version 2.2.9. It's the stable release. 2.3.3 is a beta release.
Tip: The built-in tutorial in GnuCash is awesome, and if you're new to the program, it is IMPERATIVE that you go through it. I opened a practice set of books and went through it one topic at a time until I had mastered the program. I LOVE GguCASH!!
Updated on Nov 1, 2010 -
"Can't run as downloaded - a trainwreck for normal users"
Version: GnuCash 2.2.6
Pros
Absolutely nothing, as it's impossible to get it to run properly on a new MacBook Pro running Snow Leopard - in fact, reading several other comments it's apparent this is made for programmers to play with, not humans who need accounting software.
Cons
Widely-recommended open-source software can usually be downloaded and run - this needs innumerable additional steps that I (an experienced user) STILL haven't unscrambled. It's a total mess apparently created as a toy for programmers, not users.
Summary
Gnucash is recommended on several sites as a good open-source substitute for Quickbooks. I have no clue who made the recommendations or how they acquired their versions, as the supposedly-stable latest version needs undisclosed additional software, endless unexplained steps in the process, and can't possibly have been rated or reviewed by "users", as it would take a programmer to unsort and assemble the pieces needed to make it work (or even install it). I'm not a newbie by a long shot, and found it hopelessly weird and confusing. I *think* I finally have it installed...after 4 hours...but it still apparently needs MORE add-ons or plugins before it will fully operate. I'm sure some will disagree, and maybe they somehow already had many of the non-included pieces necessary to use it, but IMO this is simply a bad piece of software for the normal user and all I can say to those who assume I'm mistaken, am a victim of "operator error" or just a knucklehead - good luck. You'll need it. I'd rate it with negative stars if possible - I've seriously only encountered one program as bad as far as installing and initial startup (and it's a commercial program which I will not mention for obvious reasons).
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"Best Accounting app out there!"
Version: GnuCash 2.3.3
Pros
For personal use I think its the easiest app to set up and I have tried a lot of accounting apps, quicken, money plus, you need a budget etc. You just type your incomes and expenses and thats it. It has more advanced futures, but i never use them.
Cons
1. Creates irritating folders in home folder among "pictures", "music" etc. I guess this has something to do with that gnome is linux based and in linux all apps are stored in the home folder. (Off course you can hide this folders, but still.)
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