Free Accounting Software
Does anyone know where I can get or download a free accounting software. I want to do my own bookkeeping. It is not worth my paying a bookkeeper at this time.
This is an old thread but I thought it'd worth mentioning that GnuCash is a nice little cross platform bookkeeping/accounting package. I use it on both my Linux desktop and my Vista laptop. If you have both Mac and Windows it could also prove helpful.
It doesn't have all the bells and whistles of Money or Quicken but it does the job.
Quickbooks also has a free version, but there are definite limitations.
I am a Quickbooks fan.
Gnucash and quasar are both open source. I've looked at both and will likely be moving to one of them for my business in the future. Not because they're free, but because they run on linux .
QuickBooks provide several versions to do the bookkeeping, You can get the best software there.
You can download, for free, Microsoft's Money Plus Sunset Deluxe Edition, here:
I bought Quicken 2012 last week, wasted a weekend setting it up, and realized it had fatal flaws.
The biggest Quicken flaw: when calculating cash flow, Quicken doesn't take into account budget items. (read that again - I'm not kidding)
Money, on the other hand, will calculate account balances based on not only "scheduled bills" (like Quicken) but also based on your budgeted amounts.
The difference to my accounts, based on that difference between Quicken and Money, is nearly 33%.
Back to MS Money.
Last edited by CJOttawa; 2012-02-18 at 08:20 PM.
^ just downloaded MS Money and am trying it out but am finding it keeps failing when inputting my windows live ID I created to sync my info with my live account online. When you say quickbooks doesn't take into account "budget items" can you elaborate on what you mean is missing here? Quickbooks 2012 is on sale half off right now but I'm a bit hesitant as I do get the feeling that they practice obsolescence.
Money Sunset doesn't connect via Windows Live anymore. Set it up to use a local password only and it'll work fine.
Originally Posted by A320
Quicken was what I was referring to, not Quickbooks. I'm unfamiliar with the latter. The former doesn't factor items you enter in a budget into cash flow projections.
Example: your income is a recurring $3,000 cheque each month. OK, no problem - since it's a recurring bill, Quicken gets that.
With no expenses, at the end of the year, Quicken would estimate you would have $36,000 in the bank.
Now, add a budgeted expense, not a recurring bill, of $400/mo for groceries. It isn't a "bill" since you don't go to the grocery store only once per month and spend exactly $400 at a time - you probably spend $150 this week, $50 next week, nothing in week three and $200 in the final week of the month.
Quicken won't factor the budgeted $400/mo into your cash projection - it will still assume you'll have $36,000 at the end of the year.
Where it's really critical is shorter time windows: will you have an extra $100 for that insurance payment next month? No help from Quicken with that. It could easily result in bounced cheques, missed payments and all sorts of financial pain.
MS Money, on the other hand, will properly factor that in, projecting your end of year at $31,200. It's even smarter than that, since it compares your actual spending (say you spent $600 last month on groceries with a $400 budget) and will update your cash flow projection accordingly. ($31,000 at the end of the year)
Last edited by CJOttawa; 2012-07-16 at 09:43 AM.
A320, Quickbooks is accounting software for businesses. If you're trying to track your personal finances I don't think you'll find it much help.
No I'm looking at Quickbooks for a small startup business. Thank you both for the quick replies. Not sure if MS Money will properly handle the business aspect I'm looking for here. Might have to look closer at Quickbooks then. I overlooked in your post that you were referring to Quicken not Quickbooks CJOttawa.