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

Summary


We learned a lot in this chapter about keeping track of payments when we sell to our customers on credit as well as when we make purchases on credit.

Specifically, we covered:

  • Creating customers and invoices: We learned how to add new customers to our business database, how to create invoices, how to keep track of payments due, as well as how to process payments when we receive them.

  • Creating vendors and entering bills: We saw how to add vendors to our database as well as how to enter bills as and when we receive them.

  • Reports of invoices and bills: We also saw how to create reports that will help us to follow up on payments due to us as well as payments we owe.

  • Setting the starting invoice number: Even though GnuCash doesn't provide a means for us to set the starting invoice number, we saw how that can be done by editing the GnuCash accounts file directly.

We also discussed how to recover from entries made in error or incorrectly.

Now that we've learned about handling credit sales and...