[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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