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  • Welcome to GnuCash. In this presentation we're going to cover the basics of GnuCash. We need to understand (click) what GnuCash is not intended to be (click), what it is intended to be and do (click), before we begin to learn how to use it (click), and since some of you are using Quicken and want to switch to GnuCash, we'll also cover how to import an existing Quicken database into GnuCash. (click)‏
  • Alright. Let's begin with what GnuCash is really not about. (click)‏ GnuCash has enough horsepower that it can easily compete with the likes of Quicken. (click)‏ But it isn't bloated with features that have nothing to do with accounting, such as, it doesn't have a calendar or a To-Do list. (click)‏ GnuCash has no initial or recurring cost. (click)‏ GnuCash is frequently updated. (click)‏ GnuCash runs on all major platforms. (click)‏
  • So if you've been wondering now what GnuCash looks like when you run it, here's an example of the Cash register with several entries. As you can see, I don't keep much cash laying around. We'll go over the columns and menu bar in a bit. (click)‏
  • This full window screen shot shows that I am running two instances of GnuCash at the same time. I could be working on a personal file while simultaneously working on a business file. The Scheduled Transaction window shown here is for the personal file. (click)‏
  • Okay. Now it's time to discover what GnuCash is really for. (click)‏ GnuCash is intended to be your personal finance program. As such, it will track your income and expenses, keep you informed of your assets and liabilities, and show you what your current equity is and the balances of all your accounts. Not to mention all details of your brokerage accounts. (click)‏ GnuCash also handles every aspect of the financials of a small business including payroll and taxes and prepare your balance sheet and income summary. (click)‏
  • As your personal finance accounting program, GnuCash will track all of your assets. (click) There are separate accounts for your Fixed Assets. This is an example. Yours will vary. (click)‏
  • You will have separate accounts for each of your Current Assets such as Cash, Checking, Savings, etc. (click)‏
  • You will have separate accounts as needed for your brokers including separate subaccounts for the shares that you keep with each broker. By the way, there is no inventory feature in GnuCash. If you want to track things like jewelry, you can create a separate account for jewelry. The description of each entry will serve as your inventory. Or, let's say you have a tiara worth $5,000. You can create a separate account called Tiara with a beginning balance and track its value as time goes by. This will automatically update your Equity balance. (click)‏
  • Next you will have separate accounts for each of your liabilities, (click) such as your credit cards, auto loans, mortgage, Paypal, eBay, etc. Some people will wonder why go into such detail with recording expenses like this. I've found that the more detail I see about where I'm spending my money, the less likely I am to overspend. (click)‏
  • We all have expenses (whether or not you have an income). (click) So you will need separate accounts for each of those expenses – or you can just have one account if you really don't want to try to keep track of where your money goes. This really isn't all that difficult to set up, and a bar chart report for the past six months lets me know if I tend to be too generous with my spending on entertainment or computers. (click)‏
  • If you are fortunate enough to have an income, you will want to track where that money comes from. (click) If you have a spouse or business or both, you can set up separate income accounts for them and know where the money is coming from. And of course, each of these accounts will have subaccounts to track things like taxes and other withholding. You will need to track this information if you intend to export a tax report to Turbo Tax. (click)‏
  • This register will be created in the form of a spreadsheet. All of your existing accounts will show up in the first column and the months, beginning with the current month, will fill the remaining columns. Click in any intersecting row/column to enter a value.
  • As your small business finance program, GnuCash can do all the same things as with your personal finance program, but has additional accounts to track such current assets as Receivables, Supplies, Work In Progress, etc. (click)‏
  • Then there are the fixed assets of the business such as equipment, furniture, autos, land, etc. (click)‏
  • If your business has any investments, you'll want to set up an account for each of them just like you do with your personal investments. (click)‏
  • Business expenses and liabilities are pretty much the same thing, so all the expenses of a business are recorded as liabilities. You'll need a separate account for each type of expense. (click)‏
  • Now that we understand a little about what GnuCash can do, let's look at how it is used. First thing we need to learn about are how to set up the accounts. When you first start GnuCash it gives you example accounts to choose from that you can edit and add or delete to your heart's content. I'm showing what the menu bar looks like when you select the Account tab. Notice in particular the columns. You have the Account name, a description, and a total for that account. (click)‏
  • Looking at the Cash account, it displays just like your checkbook register would. No surprises there. Notice that the menu bar buttons are quite different than for the Account register. (click back and forth to show the differences, then click forward)‏
  • The same thing applies to your checking accounts. The only difference is in the naming of the columns. (click)‏
  • Credit cards, loans and similar liability accounts will look like this. (click)‏
  • Your investment accounts will have two different sets of columns. The account for the broker will look like a cash account. (click)‏
  • And the accounts for each of the stocks held by a broker will have its own set of columns that track the quantity, the price per share, and the buy or sell total amount. A running balance for that stock is automatically updated. There is a unique method for creating a stock account that we will look at briefly. (click)‏
  • There are several different ways to display any of the registers (accounts) in GnuCash. Clicking on the View tab gives you a drop-down panel to select from. In the Basic view, notice there is one row in the register for each entry. This list is different for some accounts, and you can set up defaults in your preferences. (click)‏
  • In the Auto-split view, when you click in an entry the register automatically splits out to show the accounts that a transaction involves. Here we see that an expense for a computer was paid for with Paypal. It can be a little more complicated than this. Suppose that you set up Paypal to immediately withdraw from your checking account to cover that expense. In that case, you would have two additional entries here, one to decrease the Paypal account and one to increase the checking account, thereby keeping your Paypal balance at zero. (click)‏
  • In the Transaction Journal view, all entries are expanded in the split view. You might want to start out in this view especially if your transactions are complicated, such as splitting out a transaction into different expense accounts (if you're tracking groceries as distinct from household items or postage stamps that you buy at the same store). (click)‏
  • It's easy enough to perform transfer transactions in the account, but there is a feature that lets you perform single transfers in a single transaction. I've never used this, but it is a way to record a transfer without going into a given account to perform the transaction. (click)‏
  • It is not necessary to scroll down to the bottom of a register to enter a new transaction. Just click on the “Blank” button in the menu bar to get you there. This is handy if you've been scrolling through a register for any reason and then want to add a new transaction. (click)‏
  • Here's an example of a multiple split that I mentioned earlier. I used my debit card from my checking account to make several purchases at Wal-Mart for different items that I really wanted to track individually. Notice that I broke out the taxes as well. If I make enough large ticket item purchases, the accumulated state and local taxes just might be enough for Turbo Tax to reduce my year-end tax liability. Why should I bother with adding it up when GnuCash will do it for me? (click)‏
  • Now suppose that while I was looking over some receipts, I discovered that I made a mistake with an amount? I simply go to that entry and update the amount – even if that entry has already been reconciled. GnuCash will ask if I intend to do this, let me unreconcile the entry, and complete the change. GnuCash adjusts the reconciliation balance automatically. This is way different than how Quicken does it. If you've ever had to do this in Quicken, you can easily screw up your reconciliation and balances, forcing you to unreconcile a whole month and then do it all over again. (click)‏
  • I've used the Delete button a lot. Sometimes after I realized I just entered the same transaction twice. Sometimes, when importing from my bank, I find that GnuCash entered the same thing that I've already entered under a different name or date. (click) There's no button to remove a split. You simply put your cursor in the row where the entry is and click Delete. (click) The Duplicate button on the menu bar lets you select a previous transaction that differs only by date and copy it as a new transaction to a new date. (click)‏
  • More than once I've assigned the wrong expense to a transaction in the Checking account. Easily rectified. Go to the entry, select the little button next to the expense, up pops a list, scroll to the right expense type, click on it, and the transaction has been updated. You can do the same thing to move a transaction from one account to another, as when you enter the transaction in the checking account when it should have been entered in a credit card account. (click)‏
  • Let's say you're looking in the Checking account at an entry that is expensed to be Miscellaneous. You want to see all the expenses you've made to Miscellaneous. Just put your cursor anywhere in the transaction and click on Jump. GnuCash opens up the account if it isn't already open as a tab item and takes you there. Now you can see how much you've been spending on Miscellaneous items. (click)‏
  • For all your repeating transactions, you can schedule them to either notify you or to make the entry automatically. Here we see how to schedule a transaction that has once been made in an account. Each time you start GnuCash, a separate window will pop up showing all the scheduled transactions. (click)‏
  • You can open a separate register to edit any entry in the Scheduled Transactions. Clicking on “Since last run” will open the Scheduled Transactions” window if it was closed. (click)‏
  • Of course you can print checks. But only if your printer will handle them. There are several types of checks to choose from, and you can design a template for your own check format. I'm showing here that a standard format provided by GnuCash will print directly on my bank's check. Just in case you try to use that example check, I've voided it out. (click)‏
  • Let's go over the many features of how to print checks. (click)‏ The default is to use the Quicken format. (click)‏ But you can choose the Delux format (click) or the Liberty format (click) or the Quicken wallet format. (click)‏ If you're using either of the Quicken check formats, you need to specify the position of the check. This is greyed out for the Deluxe and Liberty checks. (click)‏ If you're doing this for a foreign country, you might want to choose the correct date format. (click)‏ Lastly, you can create your own check format. (click)‏
  • Even though this tab item is there – it doesn't do anything. In other words, they haven't yet installed any code to make this work. (click)‏ But don't let that deter you from getting your downloads from your bank or broker. Use this online help to get you connected or simply go online to your bank or broker and specify to download a Quicken file in QIF or OFX/QFX format – either one will work. Then open GnuCash and import that file. (click)‏
  • Just to give you a head's up, here are all the import possibilities you have with GnuCash. The one labeled Replay GnuCash .log file might come in handy, because that is how you would recover from a crash if you were in the middle of entering transactions and had not yet saved the file. Only those transactions that did not get written to a log file will have to be done over. (click)‏
  • The General Ledger function of GnuCash is accessed by selecting Tools, then General Ledger. (click)‏ The empty register entries in this view are created each and every time you do anything to any other register – and they can be completely ignored because they get deleted when you exit from GnuCash. The important part here is the last entry in this view. You can create an entry in General Ledger and the transactions will be recorded in the appropriate accounts. (click)‏
  • Here's a review now of all the features of GnuCash we've covered so far. The last feature we'll cover is Reports and Charts. (click)‏
  • These are the four general categories for reports, although they are not separated out like this when you open the tab for reports. (click)‏
  • Clicking on the Reports tab shows a pop-up with the following possibilities. Going through all of these will take some time, so we'll leave that exercise up to you as the user – besides, it's fun to explore. (click)‏
  • What the heck! Let's go through a couple very quickly. Here's a sample of how the Account Summary report will look like. I won't show the whole thing because it is my own personal finances we're looking at. (click)‏
  • Under Assets & Liabilities you have all these options. Shown here is an example of a Net Worth Bar Chart for the current fiscal year. By right-clicking on the chart you get a pop-up where you can change some of the parameters. (click)‏
  • Under Business you have these options. The only business I am tracking with GnuCash is my rental property, so I have no example to show here. (click)‏
  • For Income and Expense you have these options. We're showing a couple of charts just so you can get a feel what's possible. (click)‏
  • At this point we need to remind you that a formal accounting program such as GnuCash is capable of working with a formal Chart of Accounts. If you are not familiar with what that is, each account has its own 4 digit number that is used instead of a name. You'll probably want to stick with names for your personal finances, but if you have a business please consider talking to your accountant and set up your accounts the way he/she would like to see them. (click)‏
  • We're getting to the end – almost. Everything that can be done in GnuCash requires working with preferences so that all transactions have the same look and feel. You can change the default preferences to accommodate a lot of user personal preferences. (click)‏
  • Now we're getting to the real question. How do you export your Quicken finances to GnuCash? GnuCash has detailed documentation on this subject and as usual it leaves some detail out, (click) so I've provided my own documentation based on my own experience. (click)‏ Be warned, it could take some time to import your transactions from Quicken unless you follow my instructions closely. (click)‏ When you are done, you won't look back to Quicken – except maybe to fix a few kinks. (click)‏
  • The first thing you need to do is set up the accounts in GnuCash that are the equivalent of the categories in Quicken. This is the most time consuming part, because it includes setting up an account for each stock in each brokerage firm you have. (click)‏ Next, you perform an export in Quicken to a QIF file. (click)‏ But be careful to select ONLY all transactions for all dates. Do NOT select anything else as they will NOT be imported into GnuCash and it will only make the import fail. (click)‏
  • In GnuCash, click on File-Import and select the QIF file that you exported from Quicken. (click)‏ This is the next most time-consuming part. You have to match the account/categories in Quicken with the accounts that you set up in GnuCash. You do this by double-clicking on the GnuCash account name and select the proper account. Let's see how we would match up that top entry. (click)
  • When we double-click on the GnuCash account on the right, we get this pop-up. Notice that the box on the right of American Express is checked. Don't use that account. Instead, (click) scroll down to Liabilities, open Credit Cards, and select American Express from there. If you forgot to set up a given account in GnuCash, click on the New Account box in the lower right and set it up. (click)‏
  • This shows a proper match. Notice the boxes on the right. When you're done, none of them will be checked. I found that when I imported investment transactions that the Short Sells and Cover Shorts transaction did not import properly. I had to edit those transactions to get them recorded properly in GnuCash. You will see an error message on this at the time you begin doing the actual importing, which you can ignore at that time. (click)‏
  • Downloading and installing couldn't be easier. Just go to GnuCash home page, look for the link on the far left for Downloads, follow the clues, download the binary from SourceForge, and install the package. Don't forget to grab the document. If you're hungry for something to do, download the source files and build it from scratch. (click)‏
  • These are the places you will find yourself looking at a lot while you're getting familiar with GnuCash. (click - done)‏
  • Powerpoint presentation

    1. 1. <ul><li>What it isn't </li></ul><ul><li>What it is </li></ul><ul><li>How to use it </li></ul><ul><li>Importing from </li></ul>Created by John R. Carter, Sr. - April 2010
    2. 2. WHAT IT ISN'T <ul><li>GnuCash is not simple </li></ul><ul><ul><li>because it has extensive features </li></ul></ul><ul><li>GnuCash is not difficult </li></ul><ul><ul><li>because it is easy to use </li></ul></ul><ul><li>GnuCash is not expensive </li></ul><ul><ul><li>because it is FREE (and open source)‏ </li></ul></ul><ul><li>GnuCash is never outdated </li></ul><ul><ul><li>With updates several times a year </li></ul></ul><ul><li>GnuCash is not OS restricted </li></ul><ul><ul><li>because it runs on ALL operating systems </li></ul></ul>
    3. 3. Screen Shots
    4. 4. MULTIPLE
    5. 5. WHAT IT IS A Personal Finance Program A Small Business Finance Program
    6. 6. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>Fixed </li></ul><ul><ul><li>Computers </li></ul></ul><ul><ul><li>Homes </li></ul></ul><ul><ul><li>Autos </li></ul></ul><ul><ul><li>Real Estate </li></ul></ul><ul><ul><li>Hobbies </li></ul></ul><ul><ul><li>Jewelry </li></ul></ul>
    7. 7. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>Fixed </li></ul><ul><li>Current </li></ul><ul><ul><li>Cash </li></ul></ul><ul><ul><li>Checking/Savings </li></ul></ul>
    8. 8. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>Fixed </li></ul><ul><li>Current </li></ul><ul><li>Investments </li></ul><ul><ul><li>Brokerage </li></ul></ul><ul><ul><ul><li>Shares </li></ul></ul></ul>
    9. 9. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>LIABILITIES </li></ul><ul><li>Credit cards </li></ul><ul><li>Loans </li></ul><ul><li>Online Accounts </li></ul>
    10. 10. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>LIABILITIES </li></ul><ul><li>EXPENSES </li></ul><ul><li>Auto </li></ul><ul><li>Home </li></ul><ul><li>Utilities </li></ul><ul><li>Entertainment </li></ul><ul><li>Travel </li></ul><ul><li>Gifts </li></ul><ul><li>Health </li></ul><ul><li>Education </li></ul>
    11. 11. PERSONAL FINANCES <ul><li>ASSETS </li></ul><ul><li>LIABILITIES </li></ul><ul><li>EXPENSES </li></ul><ul><li>INCOME </li></ul><ul><li>Self </li></ul><ul><li>Spouse </li></ul><ul><li>Business </li></ul>
    12. 12. PERSONAL FINANCES <ul><li>Budget </li></ul><ul><li>File  New  Budget </li></ul>
    13. 13. BUSINESS FINANCES <ul><li>ASSETS </li></ul><ul><li>Current </li></ul><ul><ul><li>Cash </li></ul></ul><ul><ul><li>Receivables </li></ul></ul><ul><ul><li>Supplies </li></ul></ul><ul><ul><li>Work in Progress </li></ul></ul>
    14. 14. BUSINESS FINANCES <ul><li>ASSETS </li></ul><ul><li>Current </li></ul><ul><li>Fixed </li></ul><ul><ul><li>Equipment </li></ul></ul><ul><ul><li>Furniture </li></ul></ul><ul><ul><li>Vehicles </li></ul></ul>
    15. 15. BUSINESS FINANCES <ul><li>ASSETS </li></ul><ul><li>Current </li></ul><ul><li>Fixed </li></ul><ul><li>Investments </li></ul>
    16. 16. BUSINESS FINANCES <ul><li>ASSETS </li></ul><ul><li>LIABILITIES </li></ul><ul><li>Payables </li></ul><ul><ul><li>Wages </li></ul></ul><ul><ul><li>Accrued Expenses </li></ul></ul><ul><ul><li>Sales Tax </li></ul></ul><ul><ul><li>Health Insurance </li></ul></ul><ul><ul><li>Income Tax </li></ul></ul><ul><ul><li>Employee Benefits </li></ul></ul><ul><ul><li>Notes </li></ul></ul><ul><ul><li>Equipment </li></ul></ul><ul><ul><li>Bank Loans </li></ul></ul>
    17. 17. USING GNUCASH Menu Bar and Tools Accounts
    18. 18. USING GNUCASH Menu Bar and Tools Registers – CASH
    19. 19. USING GNUCASH Menu Bar and Tools Registers – CHECKING
    20. 20. USING GNUCASH Menu Bar and Tools Registers – CREDIT CARD
    21. 21. USING GNUCASH Menu Bar and Tools Registers – BROKERAGE CASH
    22. 22. USING GNUCASH Menu Bar and Tools Registers – BROKERAGE STOCK
    23. 23. USING GNUCASH <ul><li>Change Register View </li></ul>
    24. 24. USING GNUCASH <ul><li>Change Register View </li></ul>
    25. 25. USING GNUCASH <ul><li>Change Register View </li></ul>
    26. 26. USING GNUCASH <ul><li>Transfer Funds </li></ul>
    27. 27. USING GNUCASH <ul><li>Enter Transactions </li></ul>
    28. 28. USING GNUCASH <ul><li>Multiple Split </li></ul>
    29. 29. USING GNUCASH <ul><li>Edit Transaction </li></ul>
    30. 30. USING GNUCASH <ul><li>Delete Transaction </li></ul><ul><li>Remove Split </li></ul><ul><li>Copy Transaction </li></ul>
    31. 31. USING GNUCASH <ul><li>Move Transaction </li></ul>
    32. 32. USING GNUCASH <ul><li>Jump To Account </li></ul>
    33. 33. USING GNUCASH <ul><li>Scheduling Transactions </li></ul>
    34. 34. USING GNUCASH <ul><li>Edit Scheduled Transactions </li></ul>
    35. 35. USING GNUCASH <ul><li>Printing Checks </li></ul>
    36. 36. CHECK WRITING <ul><li>Print Checks </li></ul><ul><ul><li>Quicken/Quickbooks (US Letter) – default </li></ul></ul><ul><ul><li>Deluxe Personal (US Letter)‏ </li></ul></ul><ul><ul><li>Liberty Personal (US Letter)‏ </li></ul></ul><ul><ul><li>Quicken Wallet w/ side stub </li></ul></ul><ul><li>Check Position </li></ul><ul><ul><li>Top, middle, bottom, custom </li></ul></ul><ul><li>Date Formats </li></ul><ul><ul><li>Default Set in Preferences -> International </li></ul></ul><ul><li>Custom Format </li></ul>
    37. 37. USING GNUCASH <ul><li>Online Actions (?)‏ </li></ul>A complete discussion for setting up OFX online direct connection to financial institutions is available at: http://wiki.gnucash.org/wiki/Setting_up_OFXDirectConnect_in_GnuCash_2
    38. 38. IMPORT OPTIONS
    39. 39. USING GNUCASH <ul><li>General Ledger </li></ul>
    40. 40. (REVIEW) USING GNUCASH <ul><li>Change Register View </li></ul><ul><li>Transfer Funds </li></ul><ul><li>Enter Transactions </li></ul><ul><li>Multiple Split Transactions </li></ul><ul><li>Edit Transaction </li></ul><ul><li>Delete Transaction </li></ul><ul><li>Remove Split </li></ul><ul><li>Copy Transaction </li></ul><ul><li>Move Transaction </li></ul><ul><li>Jump to Account </li></ul><ul><li>Scheduling Transactions </li></ul><ul><li>Edit Scheduled Transactions </li></ul><ul><li>Printing Checks </li></ul><ul><li>Online Actions (?)‏ </li></ul><ul><li>General Ledger </li></ul><ul><li>Reports and Charts </li></ul>
    41. 41. REPORTS & CHARTS <ul><li>General </li></ul><ul><li>Assets and Liabilities </li></ul><ul><li>Income and Expenses </li></ul><ul><li>Business </li></ul>
    42. 42. REPORTS & CHARTS
    43. 43. REPORTS & CHARTS <ul><li>Account Summary </li></ul>
    44. 44. REPORTS & CHARTS <ul><li>Account Summary </li></ul><ul><li>Assets & Liabilities </li></ul>
    45. 45. REPORTS & CHARTS <ul><li>Account Summary </li></ul><ul><li>Assets & Liabilities </li></ul><ul><li>Business </li></ul>
    46. 46. REPORTS & CHARTS <ul><li>Account Summary </li></ul><ul><li>Assets & Liabilities </li></ul><ul><li>Business </li></ul><ul><li>Income & Expense </li></ul>
    47. 47. CHART OF ACCOUNTS <ul><li>1000 – 1999 Asset Accounts </li></ul><ul><li>2000 – 2999 Liability Accounts </li></ul><ul><li>3000 – 3999 Equity Accounts </li></ul><ul><li>4000 – 4999 Revenue Accounts </li></ul><ul><li>5000 – 5999 Cost of Goods Sold </li></ul><ul><li>6000 – 6999 Expense Accounts </li></ul><ul><li>7000 – 7999 Other Revenue </li></ul><ul><li>8000 – 8999 Other Expense </li></ul>
    48. 48. Preferences
    49. 49. to <ul><li>Detailed (?) documentation by GnuCash </li></ul><ul><ul><li>http://www.gnucash.org/docs/v2.0/C/gnucash-help/first-time.html#import-qif </li></ul></ul><ul><li>Detailed documentation by John Carter </li></ul><ul><ul><li>http://www.jrcarter.com/gnucash/Quicken2gnucash.pdf </li></ul></ul><ul><li>Can be time consuming </li></ul><ul><li>Worth the effort </li></ul>
    50. 50. Import From Quicken <ul><li>Confirm Accounts match in Quicken and GnuCash </li></ul><ul><li>In Quicken, use Export->Custom </li></ul><ul><li>Select Transactions in all accounts for all dates </li></ul>
    51. 51. Import From Quicken <ul><li>In GnuCash, Select QIF File to Import </li></ul><ul><li>Match Accounts </li></ul>
    52. 52. Import From Quicken
    53. 53. Import From Quicken <ul><li>Matching Accounts </li></ul><ul><li>Create new GnuCash accounts as needed. </li></ul><ul><li>Investment transactions may require special treatment </li></ul>
    54. 54. How To Get It Download GnuCash 2.2.9 Linux Source | Via distribution Microsoft Windows XP/Vista/7 Mac OS X Intel | Power PC | Readme More downloads (Source, Development,...)
    55. 55. <ul><li>Online HELP: </li></ul><ul><li>http://svn.gnucash.org/docs/guide/ </li></ul><ul><li>http://www.gnucash.org/docs/v2.0/C/gnucash-help/help.html </li></ul><ul><li>http://wiki.gnucash.org/wiki/IRC </li></ul>