![]() ![]() GnuCash’s main screen offers a list of accounts and current balances. GnuCash uses traditional accounting terms such as Accounts Payable (A/P) and Accounts Receivable (A/R) instead of the current terminology such as bills, sales, and invoicing. It may also be useful if you’re a little familiar with accounting terminology prior to using GnuCash, though there are resources available to help you. GnuCash is the perfect fit for sole proprietors who are more comfortable with an on-premise application. QuickBooks Online is a nod to the business owner who wants to access his or her business data at any time, from any place, and also wants access to the hundreds of apps available. GnuCash is very reminiscent of more traditional accounting software applications and offers solid functionality behind a nondescript home page. GnuCash and QuickBooks Online are both designed for small businesses, but that’s where the similarities end. Not only suitable for growing businesses, QuickBooks Online is also a good fit for sole proprietors and micro-businesses that need a scaled-down version of a solid accounting application. With four plans available, QuickBooks Online offers scalability, so you can start slow and ramp up as your business grows. QuickBooks Online is well suited for sole proprietors and growing businesses alike. A mobile app for Android smartphones is available, but it offers limited functionality. GnuCash is an on-premise application you’ll need to download onto your computer - it does not offer remote access. Originally designed as a personal finance application, GnuCash has added a number of business-related features to the original application, making it a good option for startups, sole proprietors, and very small businesses. If you're ready to finally make a choice, we're breaking down these two options with an in-depth, side-by-side comparison. Or, you’ve read our accounting software reviews and have some questions about QuickBooks Online. Maybe it's a just mathematician / computer scientist thing of preferring things that make mathematical sense rather normal intuitive sense, a bit like zero-based indexing or end iterators that point one past the end.Maybe you’ve heard of GnuCash, but want to know more about it. But it still does seem an unnecessary complication to me compared to just having all accounts working the same way (but some happen to be negative). So it seems that it is something accountants really do use, not just the cynical marketing plot I initially thought. Interesting, thank you, I hadn't heard of "liability account" before. > The "credit card" account is a liability account My initial cynical reaction was that this is a marketing ploy to make you feel a bit less bad about it, and I'm not surprised that Nationwide doesn't follow suit given that it's not run for profit. It's interesting to see (from your comment and others) that's it's normally done that way. I've never had a credit card with anyone else, so that's why I'm surprised that the debt is presented as a positive number. Oddly, in that example screenshot, the credit card balance is shown as positive - I'm not sure if that's because it's just an example and they faked it wrongly or because the way balances are shown have changed since that picture was taken. So is my mortgage, which makes for a depressing overall sum! I won't bore you with more detail but generally they mostly stick to this pattern in other screens. In the main statement of accounts, which looks like this, the credit card balance is shown negative. I just checked my online banking - I bank with Nationwide, a UK building society (a bit like a US credit union but functions like a bank). Every credit card statement I've ever receive has shown the amount I owe as a positive amount. > This is only true if you think of them like a bank account. Credit card accounts are almost always negative ![]()
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