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Thread: Financial application

  1. #1
    Kevin Miller NNTP User

    Default Financial application

    I've been using Quicken Home & Business 2000 for years and would really
    like to dump it. My wife and I both have small home business as well as
    the normal household checkbook accounting stuff.

    The two main contenders seems to be Kmymoney and gnucash. Any thoughts
    on which is the better option?

    Can they both do invoices and track receivables and such?

    Thanks...

    ....Kevin
    --
    Kevin Miller
    Juneau, Alaska
    http://www.alaska.net/~atftb
    In a recent poll, seven out of ten hard drives preferred Linux.

  2. #2
    Join Date
    Jun 2008
    Location
    West Yorkshire, UK
    Posts
    3,450

    Default Re: Financial application

    KMyMoney is what it says, strictly a personal application - though it is adequate for businesses that do not trade in actual goods as long as you are happy to create the invoices yourself. It includes budgeting and forecasting options which would suit businesses.

    Gnucash is a better option for businesses though it does not have some of the options KMyMoney has.

    The major problem with business applications is the huge range of taxation regimes. A friend is currently creating an application for use in the UK but he has had to restrict himself, initially at least, to three of the five taxation regimes in operation in the UK.

    Once it has been properly tested it may be suitable for adaptation to other taxation regimes but it turns out to be rather more complicated than one might think.

  3. #3
    Kevin Miller NNTP User

    Default Re: Financial application

    john hudson wrote:
    > KMyMoney is what it says, strictly a personal application - though it is
    > adequate for businesses that do not trade in actual goods as long as you
    > are happy to create the invoices yourself. It includes budgeting and
    > forecasting options which would suit businesses.
    >
    > Gnucash is a better option for businesses though it does not have some
    > of the options KMyMoney has.
    >
    > The major problem with business applications is the huge range of
    > taxation regimes. A friend is currently creating an application for use
    > in the UK but he has had to restrict himself, initially at least, to
    > three of the five taxation regimes in operation in the UK.
    >
    > Once it has been properly tested it may be suitable for adaptation to
    > other taxation regimes but it turns out to be rather more complicated
    > than one might think.


    Thanks for the feedback. I'll focus on Gnucash. Tax isn't a problem.
    It doesn't have to integrate w/a tax programs or the anything. I just
    need to be able to set the sales tax rate (5%) and be able to toggle it
    for non-taxable sales in the invoice.

    At the end of the year I just need a summary report of my sales that I
    can manually add in to my income tax reporting. Both home businesses
    are humble enough that I can pretty much add up sales on a hand held
    calculator.

    Probably the most important thing is the stability. If it's fairly
    solid, it's at least worth looking at...

    ....Kevin
    --
    Kevin Miller
    Juneau, Alaska
    http://www.alaska.net/~atftb
    In a recent poll, seven out of ten hard drives preferred Linux.

  4. #4

    Default Re: Financial application

    Kevin i run a landscaping company and i switched from quickbooks to guncash and i find it will do everything I need just fine. The only item that it will not handle is payroll. You will be able to track the cost but it will not do the math and have the feeds to gov for dollars transfers.

  5. #5
    Kevin Miller NNTP User

    Default Re: Financial application

    kellykare wrote:
    > Kevin i run a landscaping company and i switched from quickbooks to
    > guncash and i find it will do everything I need just fine. The only item
    > that it will not handle is payroll. You will be able to track the cost
    > but it will not do the math and have the feeds to gov for dollars
    > transfers.


    Great - no payroll so that won't be a problem. Thanks for the report...

    --
    Kevin Miller
    Juneau, Alaska
    http://www.alaska.net/~atftb
    In a recent poll, seven out of ten hard drives preferred Linux.

  6. #6
    Join Date
    Mar 2009
    Location
    Toronto, Canada
    Posts
    27

    Default Re: Financial application

    Take a look into OpenBravo ERP. Heres a direct link to their Finance and Accounting section. Financial Management and Accounting : Functionality : Openbravo ERP

    I am in the Nightclub & Entertainment business and OpenBravo ERP and POS is what I deploy into my infrastructure. I always leave the numbers to my chartered accountant but I like to keep a watchful eye on my numbers as well

    I have also tried Kmymoney and gnucash, personally none of those were for me. Take a look into OpenBravo. It might be something for you and your wife.

  7. #7
    Kevin Miller NNTP User

    Default Re: Financial application

    Penel wrote:
    > Take a look into OpenBravo ERP. Heres a direct link to their Finance and
    > Accounting section. 'Financial Management and Accounting : Functionality
    > : Openbravo ERP'
    > (http://www.openbravo.com/product/erp...nt-accounting/)
    >
    > I am in the Nightclub & Entertainment business and OpenBravo ERP and
    > POS is what I deploy into my infrastructure. I always leave the numbers
    > to my chartered accountant but I like to keep a watchful eye on my
    > numbers as well
    >
    > I have also tried Kmymoney and gnucash, personally none of those were
    > for me. Take a look into OpenBravo. It might be something for you and
    > your wife.


    Thanks - I took a look at it, but it's really overkill for my humble
    needs.
    Appreciate the pointer to it though...

    ....Kevin
    --
    Kevin Miller
    Juneau, Alaska
    http://www.alaska.net/~atftb
    In a recent poll, seven out of ten hard drives preferred Linux.

  8. #8
    Join Date
    Mar 2009
    Location
    Toronto, Canada
    Posts
    27

    Default Re: Financial application

    No problem my friend. Just trying to lend a helping hand.

    *Cheers*

  9. #9
    Join Date
    Jun 2008
    Location
    Groningen, Netherlands
    Posts
    19,856
    Blog Entries
    14

    Default Re: Financial application

    Quote Originally Posted by Kevin Miller View Post
    I've been using Quicken Home & Business 2000 for years and would really
    like to dump it. My wife and I both have small home business as well as
    the normal household checkbook accounting stuff.

    The two main contenders seems to be Kmymoney and gnucash. Any thoughts
    on which is the better option?

    Can they both do invoices and track receivables and such?

    Thanks...

    ....Kevin
    --
    Kevin Miller
    Juneau, Alaska
    A Turn for the Better
    In a recent poll, seven out of ten hard drives preferred Linux.

    Please take a look at osFinancials Free Accounting Software - Open Source Accounting Software
    This is a fork of gnucash, capable of anything a modern financial app should do. I've been using it for a couple of years now, it's great, easy to work with.
    ° Appreciate my reply? Click the star and let me know why.

    ° Perfection is not gonna happen. No way.

    https://en.opensuse.org/openSUSE:Board#Members
    http://en.opensuse.org/User:Knurpht
    http://nl.opensuse.org/Gebruiker:Knurpht

  10. #10
    Kevin Miller NNTP User

    Default Re: Financial application

    Knurpht wrote:
    > Please take a look at 'osFinancials Free Accounting Software - Open
    > Source Accounting Software' (http://osfinancials.org)
    > This is a fork of gnucash, capable of anything a modern financial app
    > should do. I've been using it for a couple of years now, it's great,
    > easy to work with.


    Thanks, I'll take a look...

    --
    Kevin Miller - http://www.alaska.net/~atftb
    Juneau, Alaska
    In a recent survey, 7 out of 10 hard drives preferred Linux
    Registered Linux User No: 307357, http://counter.li.org

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