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 – reusing transactions


Wouldn't it be great if you can leverage the effort you had earlier put in to get this type of transaction just right? The good folks developing GnuCash have thought of all that and have just the solution for you – the ability to take an entire transaction and make a duplicate.

  1. Place the cursor anywhere in the split transaction we created for sales tax in the earlier tutorial.

  2. Go to Transaction | Duplicate Transaction or right-click and select Duplicate Transaction.

  3. A dialog called Duplicate Transaction will prompt for a new Date and Number for the transaction. Select a Date and enter 83791 in the Number field:

  4. Click on OK to add the transaction to the register.

  5. Edit the transaction so that the new description is Gaming PC, the new check amount is $630, the new Sales amount is $600, and the new sales tax is $30.

What just happened?

Note to self. At the next appointment, should ask the dentist whether there is a way to painlessly duplicate the previous root...