GNUCash value proposition

Colin Law clanlaw at gmail.com
Mon Jun 5 04:24:56 EDT 2017


On 5 June 2017 at 03:21, Lincoln A Baxter <lab at lincolnbaxter.com> wrote:
> If we all had the time and discipline to enter every transaction as it
> was made, this is all true. Entering transactions as they are made is
> very hard, and without a client that you carry with you it is virtually
> impossible, even if one existed, it would be tedious. The fact is the
> Bank is that application, they do it for you.  They HAVE to!  The
> reason import exists and is widely used (I do), is that it saves the
> time of entering all the transactions.

It depends on whether you trust your bank and, for example, its OCR
cheque reader. I keep all my receipts then it is easy to enter the
transactions. A little tedious I agree but for most using this for
personal accounts I imagine it is only a handful a day.  For business
users I would have thought that keeping receipts and entering
transactions manually is mandatory.  For cash I enter significant
items (that I have kept receipts for) then balance the cash in hand
with GC once a week or so, assigning the missing cash to
Expenses:misc.

Colin


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