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 – using GnuCash features for non-profits


Let us take a few scenarios of accounting challenges that are more commonly found in non-profits and see how best to leverage the features of GnuCash to meet those requirements:

  1. Non-profit scenario 1 - Income/Expense for an event: You are the treasurer for the non-profit, Save Our Souls (SOS). During the month of November, SOS plans to run a Holiday Fundraising event of buying Poinsettias and Wreathes and distributing them to the local community. You would like to track the income and expenses for the event separately, so that you can create a report showing how the event did financially.

  2. Prerequisites: Set up a new account hierarchy for SOS. You can use the Business Accounts as a starter.

  3. Create a new account - the Account Name should be Holiday Fundraiser, Account Type should be Income, and Parent Account should be New top level account.

  4. Create another new account Income of type Income with Holiday Fundraiser as the parent.

  5. Create two...