Software: GnuCash. I’ll start this week’s recommendation with a couple of confessions. First, I have not had an opportunity to try this software. While I have tried to carve out some time to check it out, I just have not had a chance. However, it comes recommended by Brian, a long-time SavvyReader. In fact, his specific Tweet was, “At your convenience, check out GnuCash. It might be helpful to a few RetirementSavvy readers.”
Second, it is highly unlikely that I would use this software, or any other finance related software, for that matter. Between Quicken, which I have used for years, and the RWR Simple Retirement Workbook – with spreadsheets covering monthly expenses, retirement portfolio, portfolio projections, Social Security & defined benefit pension projections, withdrawal plan, and beneficiary allocations which are all linked where applicable – I have every piece of financial information at my fingertips in formats that work well for me.
As long-time SavvyReaders know, we like words such as frugal, discount and free here at RetirementSavvy.
This software, focused on personal and small-business financial-accounting use, is freely licensed under the GNU GPL and available for GNU/Linux, BSD, Solaris, Mac OS X and Microsoft Windows.
Designed to be easy to use, yet powerful and flexible, GnuCash allows users to track bank accounts, stocks, income and expenses. According to the website, this software is quick and intuitive to use as a checkbook register and is based on professional accounting principles to ensure balanced books and accurate reports.
Highlighted features include: double-entry accounting, stock/bond/mutual fund accounts, small-business accounting, reports & graphs, QIF/OFX/HBCI import, transaction matching, scheduled transactions, and financial calculations. Additionally, site support includes documentation such as a help manual and tutorial & concepts guide, a FAQ, Wiki, mailing lists, bug reports, and IRC (Chat). It would appear as if GnuCash has users covered with respect to support.
Again, if you aren’t currently using financial software, or you want to give new financial software a look, here you go.