Is GnuCash Secure?

tnicolle tnicolleca at gmail.com
Mon May 1 11:31:35 EDT 2017


Hello,

I just came across GnuCash in my search for a personal finance program that
is easy to use and doesn't cost a fortune. I don't need a full blown
accounting system like a Sage product but I am tired of wasting endless
hours with so called free software online that is neither double entry
accounting or works.

What I am looking for in a program are the following features:

-automatic download of transactions for bank chequing, savings, investment,
loans, lines of credit and credit card accounts - I am looking to avoid
manual data entry.

-automatic categorization of similar transactions based on payee etc.
 
-ability to record transactions across liability and asset accounts so that
everything doesn't get recorded as an income or expense item. For example, I
have spend untold hours trying to fix messes created by Wave when transfers
from one chequing account are treated as INCOME items on the line of credit
with no offsetting way of recording an entry to the line of credit for the
increase to the loan. What happens is I end up with 3 of 4 entries to what
should be a double entry system and it is a mess.

-ability to create reports that are customized somewhat.

-ability to provide current bank and loan account balances from automatic
download of transactions.

-ability to track both cash accounts, investment accounts from brokerage
divisions of banks or investment houses and credit card accounts.

-ability to track separately sales taxes both paid out and collected.

-ability to track budgeted amounts agains actual amounts on a monthly,
quarterly and yearly basis.

These are most of the big features I find lacking in any other one online
program. 

The last and most important one is that the data from my banks and other
accounts downloaded is secure and cannot be accessed.

I am not a programmer so I don't really understand the concept of open
source and what this means from a security point of view. As I do understand
it, I believe it means that anyone can modify the source code to change it
and that is how improvements are made. 

If this is the case, I wonder then what stops a developer from going into
the source code and changing it with malicious intent to grant access or
create virus problems etc. 

Anyway, I would appreciate greatly anyone's response with this and would be
happy to clarify any questions if need be. For the record, I am trained in
accounting and understand the accounting concepts fully.

Thanks very much and have a great day.

T



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