[mdlug] GNUCash (Was: Knoppix from Windoze)

[Robert Adkins]

Robert Meier wrote:
> Stan,
>
>   
>> It has been said that GNU Cash is not ready.
>> Why?
>>     
>
> <IMHO>
> I would say that Gnucash is as ready as Quicken.
>
> The statement that "GNU Cash is not ready." probably stems
> from the fact that Gnucash is single entry, but so is Quicken.
> </IMHO>
>
> A double entry system posts data both into journals
> (referenced to source documents), and to ledgers
> (referenced to external statements).
> Consequently, like a forward-error-corrected transmission,
> any single error of ommission, duplication, or misamount
> can be identified and corrected.
> In practice, any count of errors less than the sum of the count of
> ledgers plus count of journals can be identified and corrected.
>
> Single entry systems, like Quicken and Gnucash are merely register lists
> like a checkbook.
> A single error can only be found by guess (or brute comparison against
> records filtered from a matching external ledger like a bank statement).
>
> In the past, I've supported businesses that successfully used
> MacMoney, PDS, and other commercial double-entry systems.
>   
    You can do Double-Entry with Quicken, if you so desire. It requires 
a little extra work on the part of the person using the application to 
setup. We use it in that fashion to keep track of transferring money 
between accounts, as well as keeping up to date records on the loans for 
our automobiles and mortgages. We don't really dive much deeper than 
that though.

    Here's an article where a guy talks (briefly) about Double-Entry 
within Quicken.

  <http://webdevelopersjournal.com/software/quicken.html>

    -Rob