GnuCash Free Accounting Software Review

GnuCash is a free financial-accounting software. Our company has been using the software in the last 5 years. We found the software somewhere on Google when we were looking for free accounting software at the time. GnuCash is easy to use and suitable for small businesses.

Currently we use GnuCash mostly for book keeping. We enter transaction data every month from bank statements and excel for petty cash.

Advantages of GnuCash:

1. Double booking. GnuCash offers double booking accounting capability. Initially we enter income and expense accounts, then we choose one of those accounts when we enter transactions in a bank account or petty cash.

2. Easy to use. GnuCash is super easy to learn for people with only basic accounting knowledge like me.

3. Can have remote database. If many people need to access accounting data, you can store data on a remote server. Our company stores accounting data on web hosting, therefore anyone who wants to access that data can open GnuCash and set it up to connect to the hosting.

Disadvantages of GnuCash:

1. Doesn’t have a built-in tax module according to Indonesian standards. However due to it’s flexibility, we can adjust our entry process to comply with Indonesian tax standards. For example, we enter separate transactions for PPN and PPh instead of using GnuCash tax calculation functions.

2. Doesn’t have granular authorization mechanism. If we have multiple bank accounts and petty cash, we cannot have separate authorization between each account.

3. Needs a little technical knowledge if you want to store data in a database. You need to install MySQL by yourself. However you can store data in file instead.

Are you interested in using GnuCash? Feel free to contact me or leave a comment below.


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