GnuCash is a financial accounting software that helps users manage and monitor their bank accounts, stocks, profits, and expenditures. Its features include statement reconciliation, scheduled transactions, and a double-entry accounting capability. The software is available for free, and it’s best for accounting teams with a limited budget.
GnuCash Pros and Cons
Free and open-source
Difficult to use
Detailed graphs and charts
Some features are not intuitive
Who GnuCash is Best For
- Finance teams with a limited budget: GnuCash is completely free, making it an ideal option for macro-business owners and startups who have small budgets.
- Individuals that need to track their personal finances: Its basic features such as expenses tracking and double-entry accounting, help individuals handle and monitor their personal finances and budgets.
The GnuCash pricing information states that it is free and that it is downloadable on any operating system. Similar accounting applications with paid services have prices that range from $7 to over $300 per month, depending on the features included.
GnuCash Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing and distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
GnuCash’s features are designed to simplify both personal financial management and corporate accounting functions. Here are the essential functionalities you should know if you are considering GnuCash for your personal or business accounting needs.
GnuCash’s double-entry accounting capability helps users ensure the accuracy of their financial records by showing the complete record of their transactions and disclosing data entry errors.
With this feature, users may set up recurring transactions that will automatically post based on a specified date. They may also schedule an automatic reminder when a transaction is due.
This functionality makes it easy for users to enter their financial transactions into the system. The register allows them to conveniently manage different financial transactions such as income, stock and currency, credit card, and split transactions. It also has a summary bar that shows the account’s balance information.
Financial Reports and Graphs
GnuCash offers users with plenty of customizable reports such as profit and loss (P&L) statement, portfolio valuation, and a balance sheet. Its graphs come in the form of pie charts, scatter plots, and bar charts.
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Most Helpful GnuCash Reviews
Users who gave positive GnuCash reviews like that it is a free and open-source software. Others said that its financial reports are detailed and comprehensive, while some mentioned that its multi-ledger is extremely helpful.
On the other hand, those who left negative reviews commented that some of its features such as stock splits and budgeting capabilities, are not intuitive. Some commented that its customer support staff does not swiftly respond to their inquiries.
Nice and functional multi-ledger
Users who gave positive GnuCash reviews like that its multi-functional ledger and double-entry accounting capability allows them to create balance sheet and income statement reports which they can customize and then print. Most others appreciate that it is free.
Customer support team does not respond fast
Users who left negative reviews had negative experiences with its customer support team. They explained that they need to sign up in order to post a query on its forum. Some reviewers complained that they received a response only after a month.
GnuCash Frequently Asked Questions (FAQs)
What operating systems does GnuCash support?
GnuCash supports the following operating systems: Mac OS X 10.8 and earlier, Linux, and Microsoft Windows XP, Vista, 7, 8, and 10 operating systems.
Does GnuCash have a mobile app?
Yes, it does. GnuCash has a mobile version that can be downloaded from the App Store, Google Play, or GnuCash’s website.
What languages is GnuCash available in?
GnuCash is available in the following languages: English, Dutch, Catalan, French, Croatian, Italian, Hungarian, Portuguese, and Chinese.
Our Top Accounting Software Provider Picks
If you aren’t sure that GnuCash is right for you, then this article on the 4 Best Accounting Software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on features—like detailed financial statements, invoicing, and bill tracking.