I'm often asked which personal finance software is the best. I strongly recommend YNAB 4the system I personally use. It is by far the best budgeting system on the market.

The software is fantastic and the methodology is extremely effective. You can read the review or Try YNAB 4 with a FREE Day Trial! This is a review of GnuCash version 2. The current version 2. To install GnuCash on other platforms, users will need Gnome 2, guile, and slib. Neither the currently used swig nor the previously used g-wrap packages are needed anymore when compiling from tarball or when installing a binary.

I have no idea what a Gnome 2, guile, slib, swig, g-wrap package, or tarball is. And that was just in two sentences about the installation. Open Source software documentation is not for the layman a group to which I proudly belong.

Once downoaded, the installer walks you fairly quickly through the entire process.

Why am I talking about installing GnuCash? Because Open Source software is notoriously more difficult to install than commercial software, so it bears mentioning. I chose to start with the Help Tutorials mainly because I had heard already that GnuCash could be fairly daunting for new users.

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But trying to look at it through the eyes of a person who just wants to get their money under control and start seeing results? Honestly, I was shocked to find a tutorial on double-entry accounting welcome back to Accounting everyone! Please take your seat, settle in, and get ready for a B-O-R-I-N-G class. I understand that under the hood, lots of accounting software uses the double-entry method Moneydance comes to mind as well, though it has other weaknessesbut to expose it to the user in this way seemed over the top.

I think more users are scared away as a result. They obviously offer the standard importation of QIF, OFX, and QFX. I downloaded my credit card activity for the past two weeks and gave it a whirl. Normally in Windows a dialog shows only files that can actually be opened by the program. You can walk through the gallery of screenshots below for the importation process with GnuCash. The short of it is that it asked me which account was associated with my imported file it was my Credit Card account.

I had no idea what was going on, so I read a little bit in the tutorials. I decided just to go for it and I imported my transactions. On opening my Credit Card register, I could see a warning sign: So, it was fairly obvious that I needed to balance things. My business experience tells me they need to be categorized as expenses. I can already foresee this being an annoyance if I ever want to run a higher-level spending report such as all money spent on Food, Housing, Utilitities, Entertainment, etc.

You can create categories such as Expenses: I take back what I said above.

Problem solved though this results in very long names in the Register. This got annoying very quickly. I was so annoyed actually, that I spent quite a while digging through the Help system to find out how to select multiple transactions in GnuCash.

I was curious about their online banking. I found this about Wells Fargo on the GnuCash wiki:. You must enable and pay for OFX access to your account. If you have a PMA relationship contact your Wells banker, they may waive the OFX access fees.

Quicken was able to handle it through WebConnect with Wells Fargo. The end result is the same….

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You get a lot of functionality, but not a lot of user friendliness. It took me a second to realize how it worked. You can search in trading halt stock or all of 13 different fields for a transaction, such as description, memo, number, action?

It would seem the amount would be much more useful to a larger base of GnuCash users. At any rate, then you just need to specify ea happy forex v1.5 your criteria contains, begins with, ends with, etc. The result was that it showed me an empty Register. The only downside I found was that the frequency options were woefully inadequate. They give None, Once, Daily, Weekly, Semi-Monthly, and Monthly.

I was hoping for something twice-monthly so I could schedule my salary. What I ended up having to do was to create two Monthly transactions scheduled on different days.

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I actually had to recall back to my accounting classes to realize that I needed to record two transactions. One, define intrinsic value stock option debit to my checking account for my salary, and another, a credit to my Income: These types of details are what kill Short-term futures trading systems strategies and techniques for the day-trader pdf for me.

I can see that it has functionality that would suit a small business, but to be touted as a personal finance application? You can check out the galary below of my walk through the Scheduled Transactions feature of GnuCash.

Transfers — This is another one of those places where we take what should be a fairly qfx binary options operation and scare the user with a very complex-looking dialog box. In the end, doing Transfers is very easy.

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It just looks scary. I set up a transfer to pay qfx binary options credit card off with some of the balance of my checking account.

The end result was that I got both how to make shitloads of money entered into their respective registers and everything worked out just great.

Nice functionality there standard, but still nice. I created a quick gallery of screenshots from the process:. It cleared up if I clicked off the register and then clicked back again. There are other features such as Stock Split, View Lots, Split Transactions, etc. GnuCash, in my opinion, is much more comparable to QuickBooks than it is to Quicken. The reporting area is truly daunting!

I had to ask myself why someone would need to know their Income vs. That seems a bit like overkill to me okay, it seems a lot like overkill.

This is extensive and scary. Budgeting in GnuCash is, as with everything else, a bit difficult. GnuCash has adopted the same approach as most financial packages.

Set some arbitary guidelines and then see how you did. You click on the Options button. I set one up to begin August 1st. You have to hit Enter to make it take annoying. No red numbers, no negatives, nothing.

Basicaly this Budgeted vs. Actual report is extremely hard on the eyes see the pic below and not very useful. GnuCash also offers a Price Editor, Security Editor, Financial Calculator, Close Book, and General Ledger. These can all be found under the Tools file menu. I have no idea how the Price Editor works as compared to the Security Editor. It confused me from the get-go. If someone can fill me in, please do so. If you want to see double-entry accounting at its finest, check out the General Ledger here.

My name is Dustin and I hope that these thorough reviews will help you find and choose the best software possible to help you manage your hard earned money. I obviously have my own preferencesbut ultimately it's about finding the right solution that works best for you.

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