Getting GnuCash 2.6 directly from the developer’s website can be an exercise in frustration for Linux users. That leaves you no option but the developer’s website. Typically, distro repositories lag behind by several release cycles.
I was not able to find this latest release in software centers for Ubuntu, Linux Mint and SolydXK distros or in the Synaptic Package Manager. However, getting it can be problematic - you might have to wait until it is more readily available through your Linux distro’s software repository. The tweaks and bug fixes alone make GnuCash Version 2.6 a much improved product.
For international users, this can make GnuCash well worth adopting. GnuCash also supports the German Home Banking Computer Information protocol (HBCI). In practice, I had trouble getting my banking data from exported files created by several spreadsheet and banking applications. In theory, GnuCash imports data from other applications that output files in QIF (Quicken format) or OFX (Open financial Exchange) formats. Swapping data in and out of financial applications is always a chancy operation. The program updates pricing sources regularly.
You can also use GnuCash to get stock and mutual fund quotes from websites to automatically update the portfolio. You can use one module per account or combine multiple investments into a portfolio displaying all accounts together. GnuCash also has a module for tracking stocks individually. You can use it to track currency movements between accounts when double-entry is enabled. GnuCash also provides a tool to manage a business budget, so you can easily plan your financial strategy.Īs part of an integrated package for small businesses, the multiple currency feature can be a great tool. Its additional features let you track customer and vendor accounts, handle invoicing and bill payment options, and monitor tax and billing terms. This ability to manage business transactions is another advantage to GnuCash over other applications. GnuCash is an ideal application if you run a small business or operate mostly from a home office. This is a very useful way to spot untracked transactions or data entry errors. This feature makes it very simple to compare the transactions you enter in an account against that account’s bank statement. The bottom line of the register shows the present balance, the new balance when the transaction entry is completed, the cleared and reconciled balances, and the projected minimum in the account.
A full suite of standard and customizable reports includes balance sheet, profit and loss and portfolio valuation.Ī statement reconciliation feature provides a running summary of how each transaction impacts the bank statement. For example, an integrated module displays graphs of your financial data in bar charts, pie charts or scatter plots. Not all money applications cater to users’ needs for customizing graphs and reports to the extent that GnuCash does. One of GnuCash’s most significant improvements is the ability to save financial data in an SQL database using SQLite3, MySQL or PostgreSQL.
This latest version is licensed under the expanded terms of GNU GPLv2+. Its multiplatform support - there are versions for Linux, OS X, Windows, BSD and Solaris - offers users flexibility for both personal and small business use.