Linux Orbit - Features: The Newbie test drives GnuCash

Paul Tatham ptatham@sympatico.ca
Sun, 03 Dec 2000 08:55:06 -0500 

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 3D"GnuCash"The Newbie testdrives GnuCash


    
by Jim Fuller, the LO Newbie

    
I'd been looking around for something that might interest a Linux neophyt=
e like myself and with a little coaching from the head honcho at Linux Or=
bit, I decided to try out GnuCash and give you the newbie perspective. Al=
though I've always used spreadsheets to keep track of finances, I figured=
, what the heck.

    
If you don't know what it is or does, here's the summary of GnuCash from =
the gnucash.org web site:

    
"If you've been looking for a way to manage your personal finances und=
er Linux, you've found it! Designed to be easy to use, yet powerful and f=
lexible, GnuCash allows you to track bank accounts, stocks, income and ex=
penses. As quick and intuitive to use as a checkbook register, it is base=
d on professional accounting principles to ensure balanced books and accu=
rate reports. GnuCash is backed by an active development community and is=
 blossoming into a full-fledged accounting system."

    
To get a copy of GnuCash, go to

    
http://www.linas.or=
g/pub/gnucash/gnucash/

    
and select the appropriate distribution version for you. I downloaded ver=
sion 1.4.7-1 and I tested It on a Compaq 7360 with an AMD K6 500 MHz Proc=
essor running Mandrake 7.1 (which is the distro I just LOVE!) After downl=
oading it, I then used Midnight Commander, found the downloaded file and =
double clicked on it. This expanded the file and created the various dire=
ctories zipped into the file and then gave me the choice to either "insta=
ll" or "upgrade". Since 1.3.1 was already on my machine, I selected upgra=
de, which worked just fine.

    
(Editor's note: GNUCash is now up to version 1.4.=
8 as of 11-28-2000)

    
So now I was ready to give it a try, but first, I thought I'd read more a=
bout what it can do. After reading a bit more on their web site, I found =
that some of the features of GnuCash include: =



      

    • Reconciliation to your bank statements

    • Multiple accounts

    • Multiple currencies

    • Account hierarchy

    • Double entry

    • Income & Expense type of accounts

    

This isn't all that GnuCash can do of course, and to find out more, you s=
hould read the manual available on the Help menu, as it goes into great d=
etail about what the software can do.

    
At this point, I thought that perhaps this would be a Part I and Part II =
type of article but as I tested the program I found that having enough in=
formation, for just Part I, would be a chore!

    
Let me first say that anyone familiar with General Ledger and Journal Vou=
cher entries will feel right at home with this software. GnuCash can hand=
le that load fairly easily. I went in and setup some accounts and establi=
shed the beginning balances. After processing some activity, I ran some o=
f the reports. (Remember the manual under the Help menu, because I used i=
t a lot.)

    

    GnuCash has a relatively simple interface.
3D"GnuCash
    

    
One of the areas that I had problems with was trying to get the stock pri=
ces of my stock accounts. I kept getting a "script error" and since I kno=
w nothing about how to change their script file, well I never got that fu=
nction to work. It is possible that I was doing something else wrong but =
never could figure out what my problem was. =


    
GnuCash is about as simple a software package that you could find. As suc=
h it does very little for the user. The user must ENTER everything into t=
he system except stock prices (if one can get it to work). So just what w=
ould help this to be a much better package? Well (attention GnuCash devel=
opers!) consider the following;

    
1. Automatic entries

    
I purchased a Truck a few weeks ago and there are no automatic entries th=
at I can use to show the payments. Sure I probably could use some off the=
 wall method to get them into the system every month (other than processi=
ng a transaction manually) but I should not have to do that. I will look =
forward to this if it's in future releases.

    
2. Interest on:

      

    • Checking account (yes I get paid interest on mine).

    • Money Market account.

    • All my various CD's

    
The system should calculate the interest every month and post the results=
 to the various accounts. Why should I have to do that? I got this High T=
ech Computer that is more powerful than a speeding bullet and can jump ta=
ll buildings and I just know it has the ability to add and subtract. (No =
it's not a Pentium I) I do believe that these items are on the drawing bo=
ard and hopefully will become reality sometime in the future. If you read=
 the Help file completely, you'll find that this is on the drawing board.=


    
OK. OK. I know I should not knock free software that works, BUT I know th=
at I can do all the functions of GnuCash plus all the other functions I'v=
e mentioned, within a spreadsheet. I have done all of these using Lotus 1=
23 and I must assume that the spreadsheet software available "free" on Li=
nux is just as capable, so why GnuCash? I assume it is to compete with po=
pular commerical software on Bill's platform, like M$ Money, Quicken and =
others. When the good people at GnuCash accomplish all of the items on th=
eir "to do" list, then this program will be a first class piece of softwa=
re (IMHO). Until then though, it's back to my spreadsheets.

    
Jim Fuller (aka jff, aka Da (cat eating) Mouse) is a retired MI=
S Manager and programmer. Jim, though not new to computers, is a newbie t=
o the Linux OS. Jim can be reached at jff@linuxorbit.com.


    

    
    

     

    

    

    


AmauryJ  -- Saturday, December 2 2000, 09:44 pm
     One thing MS Mo=
ney has right is their download format (.olx).
These are XML format files. 
    drfickle  -- Saturday, Decembe=
r 2 2000, 11:17 am
     Taylor writes : "if your bank lets you grab Quicken=

data files off its secure Web site (like Bank of America does), you can f=
eed these to GnuCash, and voila! All your transactions are entered, witho=
ut you having to hand-enter a darned thing"

    So you're suggesting that we rely on the proprietary Quicken format an=
d only those particular banks that support it? No thanks. Jim has a very =
valid point here and I won't be using GnuCash until I can have some decen=
t default expense categories. I'm sorry but currently GnuCash is nowhere =
near MS Money or Quicken. That's why I'm just waiting patiently for it to=
 get there.  
    Jim Fuller  -- Wednesday, November 29 2000, 0=
7:31 pm
     Amazing what one misses when reading documentation. I didn't k=
now about importing files since I wrote from the aspect of using GnuCash =
for the first time. My fault on missing that. And I don't think I based G=
nuCash very hard, just thought that spreadsheets can do the same thing. J=
ust my opinion.  
    TaylorB  -- Wednesday, November 29 2000, =
06:12 pm
     The author writes: "The user must ENTER everything into the s=
ystem except stock prices (if one can get it to work)." WRONG WRONG WRONG=
! If your bank lets you grab Quicken data files off its secure Web site (=
like Bank of America does), you can feed these to GnuCash, and voila! All=
 your transactions are entered, without you having to hand-enter a darned=
 thing. Mr. Fuller, make sure you understand the software's capabilities =
before you bash it, huh? 
    ChrisM  -- Wednesday, November 29=
 2000, 05:18 pm
     I think you are right about the scheduled transaction,=
 that is one thing I have been missing. However since there are so many w=
ays that interest is calculated (average daily balance, daily balance, et=
c...) that it isn't very practical. But than that is only my .02 
    =

    

    

    
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The LO Newbie test drives GnuCash<=
/a>
    
November 29, 2000
    
Jim Fuller, the resident Linux Orbit Newbie, takes a look at GnuCash, the=
 personal finance manager.

    
Making Linux Work in the Workplace:=
 The Consumer Experience 
    
November 27, 2000
    
 Terril West continues his series "Making Linux Work in the Workplace". T=
erril takes a look some of the surprises you find when buying Linux at an=
 e-store.

    
PCMCIA and GNU/Linux, it's a snap
    
November 22, 2000
    
Linux Orbit's Editor-in-chief John Gowin demonstrates how easy installing=
 PCMCIA cards has become.

    
Storm Linux 2000 Review
    
November 3, 2000
    
Linux Orbit's John Facey casts his eyes on Storm Linux 2000, and likes wh=
at he sees in this latest Debian-based distribution.

    


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