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Saturday, June 28, 2008

Article on using GNUCashnu

There is this great article on about using GnuCash 2.0. As the author says, it's not a review or a list of new features, but more of a explanation on the usage of GnuCash 2.0. Read the article (link).

From the article:
Getting over the barrier
Start by reading the section called "The Basics" in the GnuCash Tutorial and Concepts Guide that you can find under Help. You really need to understand what double-entry accounting is all about before you can ever be comfortable using GnuCash, even to balance your checkbook.
In The Basics, the Guide explains not only the five basic types of accounts, but why it takes a minimum of two entries -- thus the name "double-entry" -- to keep the accounts in balance. It takes you just far enough past the fundamental "Assets - Liabilities = Equity" equation to show how Income and Expenses, the last two of the five account types, fit into the equation. It's easy, really.
Assets include things like the money in your checking account. Liabilities are the things that you owe, like rent or car payments. Equity is nothing more than the difference between the two. Told you it wasn't hard. Now, speaking of checking accounts, let's set up GnuCash to track one.

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