While development of GnuCash began in 1997, the first version was released shortly after in 1998. The first version of GnuCash for small businesses was not released until 2001.
The GnuCash developers did not release a version for Windows until 2007. While there are earlier versions of the program that work on Windows operating systems, version 2.2.0 will work on all Windows machines made since 2000.
Like Quicken but Cheaper
The GnuCash developers originally planned to create an open source accounting application that had capabilities similar to Quicken. While the software can still perform personal accounting tasks, it has been widely used by small business owners and accountants.
Some of the major small business accounting tasks that GnuCash will perform include check printing, invoicing, accounts payable, accounts receivable and depreciation. Like any other business accounting software, GnuCash will also keep track of income and expenses on a monthly basis.
Recent versions of GnuCash also allow individuals and small businesses to reconcile and export any relevant income, expense and tax information to any major tax preparation program. This particular feature has made GnuCash widely popular in recent years.
GnuCash is perfect for small businesses because the information that’s stored in the software is easily transferable to other software programs, such as Excel and MySQL. Once all accounting procedures have been completed, all information can be exported to either program for easy storage and white paper report creation.
Similarly, any records that need to be entered in the system can be done so by using the automatic import feature and connecting to any one of a variety of programs. This is a great feature that is especially useful for business accountants and small business owners.
Used by Businesses and Individuals Worldwide
Because GnuCash supports a variety of different currencies, people and businesses worldwide have given the software rave reviews. Since the development stages, non-profit organizations, small business owners and private consumers have downloaded and successfully used the software for a variety of different purposes.
The Perfect Affordable Solution
While GnuCash may not perform every single accounting task that other major accounting programs do, it does the job well enough for small business owners and free-lance accountants. The GnuCash development team is constantly coming out with new updates to the software that fixes bugs in previous versions.
Regardless of the kind of business you own or the type of accounting tasks you perform, GnuCash is the perfect affordable accounting solution for those who need to stick to a strict operating budget.