Free Accounting software: GnuCash

GnuCash

Hello friends,

Today’s blog is how to use GnuCash a free accounting software for personal accounting purpose.

First visit to website: https://www.gnucash.org/

 

Download the GnuCash software it supports Windows, various Linux distribution, MacOS

“Note:

Salary amount which I have entered is example don’t think I am earning 50k per month. ”

After installing software open GnuCash application

I am using CentOS so GUI is different for other OS.

After opening software you will get dialog box as below

then Select New → New File it will display below dialog box

Click on Forward go to next

Select your currency as shown below in the dialog box

then Click on Forward go to next

For personal Accounting you don’t need to enter anything in New Book Option you can skip it

then Click on Forward

Select Categories as shown in dialog box

I recommend Common Accounts for personal accounting

You can add Education Loan and Mortgage Loan (optional)

and then click on Forward

Enter you amount in Cash in Wallet and Checking Accounting or else you can leave it as 0.00 and click on Forward

Final finish the setup by selecting Apply in below dialog box screenshot

and Save it by selecting create folder and save as with filename.

By default this will save in xml format

After saving it will display dialog box as below

and double click on Checking account it will display as below

Select date for which date you want to make entry

and enter amount as show in below by selecting categories and enter amount respectively and save it.

I have created a sample accounting for reference have look on below screen shot

Now after creating accounting if you want to create cash flow report then

Go to Reports → Income & Expenses → Cash Flow it will open in new tab as shown below

 You can export by selecting this icon in the report screen

You can even print by select this icon in the report screen

In addition if you want to make budge and compare with monthly accounting

You can do it by creating Budge in GnuCash.

To create budget follow below procedure

Go to Action → Budget → New Budget

It will open in new tab with Budget as below

First enter salary in your budget according to your monthly salary as below

Then double click on each field where you want to fill the expenses and

fill the expense as below and save it.

and fill the expense as below and save it

using this icon you can give name to the budget filename

For budget flow

select Reports → Budget → Budget Flow

it will open new tab as below

Here left flow is budget flow of this month and right flow is current month accounting

here you can compare to know how much is spent according to budget

My Idea

In future i think this software will do accounting automatically if we are connecting to our banks accounts with this software and it will automatically categorize the transactions we made through banks account.

I wrote this blog in hope that it will be helpful to people in managing there personal accounting.

This software can be used in Small industries or startup company.

If you felt boring with blog reading you can watch video in below youtube link

      https://www.youtube.com/watch?v=_K_IIrMUnNA

For industrial purpose you can watch videos in below youtube link

     https://www.youtube.com/watch?v=aqAaScYVeRQ&list=PLLuhcl-Y-AM8LD1M7Fe5VfyWxEQL02ZOf

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