[GNC] looking for quicken alternative

Michael or Penny Novack stepbystepfarm at comcast.net
Sat Mar 28 16:13:35 EDT 2020


On 3/27/2020 5:11 PM, Ken Cohen via gnucash-user wrote:
>   thanks for your response. sounds like it is more spreadsheet type oriented, correct? Also, does this app connect to my bank and brokerage acct to download transactions? One of my brokerage accts trades frequently and entering all that by hand would be a big chore? Quicken seems to do this much more efficiently.
> Ken

I am not sure what you are saying. Gnucash is a (standard) double entry 
bookkeeping application.

Spreadsheet? Anybody who is experienced doing double entry bookkeeping 
the old fashioned way, pen and ink on paper, could certainly use a 
spreadsheet app, simply setting the columns the way they would be on 
journal and ledger pages. Gnucash is easier. Instead of entering in the 
journal and then posting into the ledger, enter directly into the ledger 
and the journal is virtual. Very much like "cashbook" accounting in the 
old days (where the most "popular" accounts were handled this way when 
the other side of the transaction "cash", only the rarer transactions 
first entered into the journal and then posted. The cashbook was instead 
posted only at the bottom of each page plus the end of the accounting 
period. Saved a lot of time and posting errors).  With gnucash, no 
posting/transcription or arithmetic  errors and immediate indication if 
out of balance.

As far as I know, Quicken doesn't do standard double entry bookkeeping.  
So in a way, apples and oranges

Michael D Novack




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