[Hudlug] Is GNUcash like MS Money? (was Re: Gnopernicus, ... )

[Chris Lindley]

> On Monday 06 March 2006 12:14, Ben Fowler wrote:
>> On 2/27/06, MICHAEL WEAVER <michaelweaver1 at btinternet.com> wrote:
>> > [ snip ]
>> > I presume that Gnucash is a bit like MS Money. I know some people use
>> > Spreadsheets for financial records but I have never got figures to
>> quite
>> > add up when using say Excel but then Spreadsheets was never really my
>> > thing at College.
>>
>> Do mean that you have working knowledge of MS Money and you want to
>> transfer this skill? You may want to check with Anne, but I suspect the
>> GNUcash is quite different.
>>
> I've never used MS Money, so it's difficult to comment.  I think I may
> have a
> copy of it somewhere, and if I can get time today I'll try to find it -
> the
> laptop is dual-boot.
>
> GnuCash is more like QuickBooks, from the comments I have read on the GC
> list.
> It imports files from QuickBooks and Quicken, I understand.  If you are
> not
> prepared to get into the whys and wherefores of dual-entry book-keeping, I
> don't think you'd be happy with this.


Hi all,

a long time, no post to this list!!

I'd like to add to what Anne says above.  I'm a fairly regular user of Gnu
Cash.  For some bizarre reason I chose this  package as my own personal
finance tool.  I say bizarre, being sarcastic to myself, as the package is
very complete, and quite hard work for personal accounting. It's a full
accounting system. I would say you will really struggle unless you start
with at least a minimal understanding of how double entry accounting
works.

If for example, entering a payment to a credit card, as a debit to your
credit card account, and a debit to your "current account" account sounds
confusing, or as another example entering a withdrawal from a cash
machine, as a debit to your current account, but a credit to your "cash in
hand" account sounds confusing, then GNU Cash may be the wrong choice. 
Every single transaction needs to be entered twice, as this is the
principle of double entry bookkeeping.

However, I think the package itself is pretty dammed good.

Cheers
Ferg