Another example is that you paid your friend $20 out of your wallet, so you would notate that withdrawal from “Cash In Wallet.” For example, say that you got paid from your job – or your great uncle passed away and left you some money – you would notate that in the “Checking Account” category. The first category is “Assets” which will include the subcategories of “Cash In Wallet,” “Checking Account,” and “Savings Account.” These subcategories are where you add or subtract things to or from the money that you have. I know the picture is tiny, but you can click to enlarge it. This is just a sample of what an account will look like after you’ve added information. This is what your account will look like with all of the subcategories closed. So our first step is just selecting the type of account we want to work with, and then a blank template with different categories. I’ll go over some of those other things below. If you notice the right side of the picture it has different categories for different things. In the example to the left, we are just using a basic “Common Assets” which is just like a general bank account. This will help you to set up whatever kind of account that you are trying to bookkeep. Since this is a post about bookkeeping in general, and not a how-to guide for the program, let us focus on the actual process of bookkeeping.įirstly, there should be some kind of setup wizard like in the picture to the side.
GNUCASH IMBALANCE FULL
GNU Cash is great because 1) it is free, 2) it is cross platform – meaning it can be used on Mac, Windows, Linux, and Android (not a full port but enough for bookkeeping on the go), and 3) it is easy to use.
GNUCASH IMBALANCE FREE
GNU Cash is a free and open source bookkeeping program, and the one that I found to help myself and my friend out in his business (to be honest, he kept using Quick Books since he needed more in-depth information for filing taxes for businesses, but for ledger keeping it is great). How many people know of GNU Cash? Not many, I’m sure. We will not be talking about those programs. Those programs – while great tools – cost some money, especially for every year. How many people know of Quicken and Quick Books? Probably most people have heard of those programs or have seen the commercials. I found a good program that can be used for businesses, but is also flexible enough to be used for personal use as well. I decided to look into a few programs to find out what worked best for me and was better than using a spreadsheet. This was quite annoying as I had to make each category myself and then remember where they all were. He had a few clients and I would help him out by doing the ledger in a spreadsheet that I had to make myself. But first, a little background.Īround this time last year, I was helping a friend of mine in his bookkeeping business. Since this is the technological era where you are most likely reading this post on a screen of some sort, we are going to cover bookkeeping on your computer. Why? Because being able to keep your own ledger can help you budget your finances as well as itemize properly on your tax return. This time, we are going to go over personal bookkeeping. We have covered writing checks, balancing a checkbook, and even budgeting before in previous posts.
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