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Questions tagged [gnucash]

For questions related to the GnuCash personal and small-business financial-accounting software freely licensed under the GNU GPL. As this is a personal finance site, questions about usage of the software are preferred over technology-related questions.

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20
votes
4answers
20k views

What headaches will I have switching from Quicken to GnuCash?

I'm interested in switching to an open source checkbook program. I currently use Quicken and I'm interested in switching to GnuCash but I have usability concerns. Does GnuCash have all the features ...
18
votes
2answers
10k views

What's the difference between 'cleared' and 'reconciled' in my financial accounting software?

Been using GNUCash for the past four years, and I'm slowly learning the more advanced features over time. Until now I've never needed to bother with future dated transactions, but recent large ...
17
votes
3answers
12k views

In double entry accounting, how does income become equity?

Using GNUCash, help, putting it all together, I'm accounting for a lottery income transaction. I was able to get the example shown with 2 transactions. 1. Dr. Savings 750,000 Cr. Income:...
17
votes
1answer
811 views

What should I do when the reality of money present and the amounts in GnuCash differ?

I started doing double entry bookkeeping with GnuCash to keep track of my personal finances, down to the penny. I think I am familiar with most of the basics of double entry bookkeeping, I took a ...
17
votes
3answers
5k views

improve gnucash OFX transaction matching

I wrote a script that cleans up OFX transaction files downloaded from banks so that the name and memo fields are more readable once imported into gnucash. This works great, I now get very clean ...
16
votes
2answers
11k views

Starting with GnuCash. How to eliminate automatic entries ending up in the “unbalanced” account?

I just started using GnuCash and there is something I do not quite get how to get rid of (and whether I should try to get rid of). When I start importing transactions, I have expenses, income, etc. ...
16
votes
5answers
10k views

Double-entry accounting: how to keep track of mortgage installments as expenses?

Context: I am new to double-entry accounting, I use GnuCash for my personal family bookkeeping. At the moment, the main goal for me is to keep track of incomes/expenses of our family over time. For ...
16
votes
2answers
2k views

What is the best cross-platform GPL personal finance tool available?

If I want desktop, web and mobile (preferably Android) access to all my accounts and assets, in a personal finance tool, what would you recommend I look at? Until Wesabe cancelled their web dashboard ...
12
votes
2answers
3k views

Good way to record currency conversion transactions in personal accounting software?

I have deep personal financial connections to two countries, with different currencies. (They happen to be Canada/CAD and USA/USD, but I don't think that's material.) I have multiple bank and ...
11
votes
3answers
1k views

How to account for months lapse in tracking finances

I have been tracking my finances with GnuCash since the beginning of this year. All was good until summer hit and I spent more than two months traveling, but I'd like to get back to it without the ...
11
votes
3answers
38k views

What is the difference between equity and assets?

I am (going to be) using GNU Cash, which uses the double-entry method; I use it for personal finance. Reading various tutorials for GNU cash, it lists 5 types of accounts: income, expense, assets, ...
11
votes
1answer
567 views

How to record the finding of 10 dollars lying on the street and their subsequent placement into one's wallet (in gnucash)?

Within gnucash: within the Cash in Wallet account: description: found some money in the street transfer: Imbalance-USD or create a new arbitrary one-off account called something like "Penny Lane" or ...
11
votes
2answers
3k views

Setting up general ledger/tax reporting for a Real Estate Rental LLC in GnuCash

I have downloaded the GnuCash accounting software for use with our real-estate rental LLC, in hopes of following more universal accounting practices and determining our individual cash basis, but my ...
10
votes
4answers
9k views

How to fix Finance::Quote to pull quotes in GnuCash

I made the jump from Jumsoft's Money app to GnuCash a while back. It appealed to all my OCD tendencies. I don't know how to use Perl, or stuff of the sort, but with detailed instructions I manage to ...
10
votes
1answer
328 views

Is it possible to track meter readings in GnuCash?

I'd like to keep the record of, for example, water and electricity consummation. Is it possible to properly implement a pseudo-account in GnuCash to store the meters' readings? Even more, having the ...
9
votes
2answers
1k views

Is it possible to add your own currencies or other “countable entities” in GnuCash?

I'm trying to track the income and expenses of an essence that is not listed as any pre-defined GnuCash currency (say, bubble gum stickers, number of calories or air temperature). Is it possible to ...
9
votes
2answers
1k views

How should I record the changing value of an investment in accounting software?

I have the following (simplistic) structure set up in GnuCash, but this should apply to other software too: Assets Bank account Pension Income Salary Interest Every month, my salary is split ...
8
votes
1answer
1k views

Gnucash category structure for funds distributed across multiple bank accounts

In Gnucash, what is the best way to structure category accounts which will hold funds distributed across several bank accounts? In Canada we have Tax Free Savings accounts which return more interest ...
8
votes
1answer
141 views

Gnucash: Keeping track of sales and expenses for a specific craft show

My wife is an artist, and is beginning to do craft shows. I want to be able to track the profitability for each show by collecting expenses and sales. Expenses can occur up to a year in advance of the ...
8
votes
1answer
2k views

Gnucash: Add new column for bookings

Is there a way to add a custom column for accounts in gnucash, so that I can add special information to bookings like: "Who added the entry?" or "What is the date of the bill?" I could input this ...
8
votes
2answers
738 views

How to continue using the online banking feature of GnuCash (AqBanking) with PSD2 in effect?

I'm running GnuCash 2.6.19 (with AqBanking 5.7.8.0) on Ubuntu 18.04.3 LTS. Ever since the European Commission's Revised Directive on Payment Services (PSD2) came into effect online banking with the ...
7
votes
2answers
2k views

In double-entry book keeping, is income always negative?

I've begun trying to learn some money managing techniques, but when fiddling with gnucash I've found that in double-entry accounting, where all money has to come from somewhere, the income accounts ...
7
votes
4answers
1k views

GnuCash and version control

I'm starting to organize my accounts more and gnucash seems like a good program to use. If possible, I would like to use version control for my repository (with git, for example) so that I have ...
7
votes
1answer
449 views

How to double-entry bookkeep money incoming from sold items?

I started doing double-entry bookkeeping with GnuCash to keep track of my personal finances, down to the penny. I have as assets my bank account and "cash in wallet", and many expense accounts for ...
7
votes
1answer
3k views

How can I show more detail in GnuCash Reports?

I recently started using GnuCash as a tool for tracking my expenses. It has lovely built in reports on expense, but it seems to limit the categories/accounts displayed to a fairly low number (I think ...
7
votes
3answers
6k views

How to handle cash back or rewards in Gnucash, what account

One of my credit cards gives me a cash back reward that I have credited to my account when it build up to a large enough amount. What account should I use for it, or is there a specific way to handle ...
7
votes
2answers
940 views

Why is GnuCash now tracking share prices in fractions?

Prior to the update to version 3 (ie, the 2.6 branch), all my funds were tracked with decimal values. Now, they're all fractions... and odd ones, at that. Do I really care that shares went from ...
7
votes
1answer
355 views

Gnucash extension to generate interest entries

I often find myself manually entering interest (and according tax) entries for savings accounts in gnucash. Is there a plugin or extension available where I can enter the initial value, the interval ...
7
votes
2answers
838 views

What is a good open source Windows finance software

I have played around with GnuCash a little but it doesn't quite meet up to what I am looking for. I currently run QuickBooks and use class tracking to keep a fine line of separation between my ...
6
votes
2answers
307 views

How to enter credit card “statement credits” (e.g. cash back) in double entry accounting? [duplicate]

A credit card statement credit is a reduction in liability, so I would think it's "income" of a sort. But, I could also see it as a reduction in expense; for example, buying a plane ticket using a ...
6
votes
2answers
1k views

Duplicating transaction splits in gnucash?

I've imported 4 years of banking history into gnucash. I have regular transactions which I'd like to split into categories (which I understand are "accounts" in gnucash terms). For example: $400 - ...
6
votes
1answer
781 views

Accounting for reimbursements that exceed actual expenses

When I travel on business, my employer pays for my meals by reimbursing me at a statutory "per diem" rate. Often this exceeds the amount I actually spend on meals. How should I account for the ...
6
votes
2answers
631 views

Recurring non-scheduled transactions in GnuCash

Does GnuCash have a similar mechanism to MYOB where a transaction can be made into a template for posting when needed? I can see a transaction can be made into a template for automated scheduled ...
6
votes
1answer
628 views

Accounting for payment into wrong currency account

I deal with clients in several countries and have two bank accounts in two currencies. Recently, I sent out an invoice with the wrong bank account number, so a client invoiced in SGD made a payment ...
6
votes
1answer
1k views

GnuCash bookkeeping for account contributions to accounts having annual contribution limits?

I'm using GnuCash, and trying to figure out how to structure a couple of accounts to track contributions to accounts like Roth IRAs and HSAs that have an annual contribution limit that I need to track....
6
votes
2answers
508 views

How do I account for 100 percent vendor discounts in GnuCash 2.6.5

Consider this simple scenario, where I am running the accounts for a small business. No need to get into fancy standards (e.g. GAAP). A vendor sends my company a bill for $100. The work is complete ...
5
votes
2answers
4k views

In double entry accounting, how do I enter a loan?

I have taken an accounting course several years ago, but I'm a little rusty. I'm using GnuCash, double entry accounting software. I have a loan from a friend, so no interest. I have paid about half ...
5
votes
1answer
2k views

How does GNUCash calculate “profits”

At the bottom is a summary bar, which shows "Net Assets" and "profits". I'm slightly baffled at what GNUCash thinks profits are, since it seems to be different than "net worth".
5
votes
1answer
1k views

Recording claimable expenses in GnuCash

I am new to accounting and trying to learn a few things as my accounts get more and more complicated. I currently use GnuCash to record simple income/expenses/assets/liabilities and have had a new ...
5
votes
1answer
745 views

GnuCash - How should equity accounts be adjusted for profit/loss in a partnership?

I have an LLC with 3 members, and have created an equity account for each member. I have a transaction that debits the checking account and credits the equity account for each member's contribution ...
5
votes
1answer
139 views

How to handle currency redenomination in gnucash?

Government of my country is planning to redenominate my local currency. For example, we have conversion rate 15000:1 local to USD. After redomination happen it will be 1.5:1 local to USD. I don't ...
5
votes
2answers
858 views

Gnucash: Tags/ Multi-category

this is a question about if a certain feature exists of how other useres "do it": Can i attribute different or multiple cost centers to a transaction? Example: I went on holidays and paid a flight. ...
5
votes
2answers
626 views

How can I generate yearly statement table with details on every account on every month in a single report?

I want to know if anybody has generated GNUCash custom report with months as columns reporting Income/Expense on every account. For example: . The idea is to show the following in a single report. ...
5
votes
1answer
4k views

How to record a written put option in double-entry accounting?

I have been using double-entry accounting to carefully track my financial situation for a couple of years now, but I am just dabbling with stock options for the first time. I wrote a put option (sold ...
5
votes
1answer
764 views

Organizing portfolio in gnucash: Now what?

I started to manage my stocks in gnucash as described in the manual and I update the prices frequently with Finance::Quote. But now what? What are the useful reports that I can generate from the data?...
5
votes
4answers
1k views

How do I set up the formulas to properly split monthly loan payments to principal and interest?

This has been a small annoyance for months now: the formulas GNUCash produced via loan repayment wizard don't match up with my lender's amortization tables. The formulas use pmt() functions, like this ...
4
votes
3answers
5k views

How to resolve imbalances and orphan transactions in Gnucash?

I am a new Gcash user. I Installed Gcash and imported couple statements from my bank. It is all good except that I now have huge imbalances. And I do not know how to handle this. I looked around the ...
4
votes
2answers
325 views

Double entry for mortgage

Q. What entries should be made for mortgage and interest only repayments? For info I use GnuCash. Situation: I have an interest (repayment) only mortgage of, say, £50,000. They added their fees to ...
4
votes
1answer
3k views

GnuCash and ledger/hledger [closed]

I am using GnuCash 2.6.7 under Mac OS X 10.10.4 to do my personal finance. I have a fairly large account structure by now with many expense accounts to track different categories of spending. I would ...
4
votes
1answer
800 views

GnuCash: How to sum “search result” entries?

Is there a simple way in GnuCash to sum "search result" entries, or would one need to build some sort of "custom report"?