Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)
Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)

Overview of this book

Attention, small business owners! Stop tax-day stress. Stop procrastinating with a shoebox full of receipts. Stop reinventing the wheel with a spreadsheet. Stop making decisions simply on a hunch. Stop wasting money on software that is overkill. Start by downloading GnuCash and getting your accounts in order. Designed to be easy to use, yet powerful and flexible, GnuCash allows you to track bank accounts, income, and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports. You can do it and Gnucash 2.4 Small Business Accounting Beginner's Guide will help you get up and running with maintaining your accounts. Gnucash 2.4 Small Business Accounting Beginner's Guide speaks business language, not accountant-speak, because it is written by a former small business owner. It guides you to use GnuCash from scratch with step-by-step tutorials without jargon, pointing out the gotchas to avoid with lots of tips. It will teach you to work on routine business transactions while migrating transaction data from other applications gradually. You will be able to keep on top of transactions and run reports after reading just three chapters! Beyond Chapter 3, it is up to you how far you want to go. Reconcile with your bank and credit card statements. Charge and pay sales tax. Do invoicing. Track payments due. Set up reminders for bills. Avoid stress at tax time. Print checks. Capture expenses using your mobile phone. Gnucash 2.4 Small Business Accounting Beginner's Guide gives you the power. Know your numbers. Make decisions with confidence. Drive your business to its full potential.
Table of Contents (20 chapters)
Gnucash 2.4 Small Business Accounting
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Time for action – entering simple transactions quickly and easily


In this tutorial, we are going to enter a simple transaction of withdrawing $300 cash from the checking account.

  1. From the menu, select Actions | Transfer to open the Transfer Funds window.

  2. In the Basic Information pane, enter 300 in the Amount field, leave today's date unchanged in the Date field, enter the check number 2073 in the Num field, and enter Withdraw cash in Description.

  3. Scroll down in the Transfer From list and select Checking Account. You may have to click on the + sign to open the tree, if the account is not visible.

  4. Scroll down in the Transfer To list and select Cash. At this point, the window should look like this:

  5. Select OK to commit the transaction.

  6. We will now confirm that the transaction has been entered in the respective accounts correctly. In the Account tab, double-click on the Checking Account. It will open in a separate Checking Account tab. This is known as the account register for Checking Account. You...