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 – assigning numbers to accounts


Let us see an example of how to assign account numbers using the Renumber Subaccounts feature of GnuCash.

  1. Make sure the Account Tree window is on top. Select one of the parent accounts, say, Expenses. From the menu select Edit | Renumber Subaccounts…. Enter 4 in the Prefix field and select an Interval of 5 as shown in the following screenshot:

  2. Click Renumber. You will find that GnuCash has renumbered all the subaccounts of this parent account.

  3. Next you can select, say, Auto and renumber all its subaccounts.

  4. However, you will find that the top-level account, namely Expense has not been numbered. You have to number this manually. Click on the Account Code field on the Expense line. The field will become a textbox allowing you to edit it. Enter the number 4 as shown in the following screenshot:

  5. Now you can tab out of that field and make sure to save your changes.

What just happened?

Who said that numbered accounts are for dictators and spies? You...