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 – editing, cancelling, and deleting transactions


We may not be able to get everything right just the first time. So, we need the ability to make changes or even clean up and start over. You can edit a transaction, cancel an edit, or even delete a transaction. Let us see how we can accomplish these:

  1. Editing transactions: Remember the $300 cash withdrawal? You suddenly realized that you actually withdrew $350. We are going to edit the transaction to correct this amount. Open the Cash account register, click on the amount, then make your changes, and click Enter. Check that this change is automatically reflected in both Cash and Checking Account. By the way, you can make this edit from either one of these accounts.

  2. Cancelling edits: In the same transaction, select the Num field and change it to 1595 and Tab out. Let us say, immediately after tabbing out, you realize that you have edited the wrong field, and horrors! You don't seem to have even a wisp of recollection what the number...