In this article I will show you how to install HomeBank, set up accounts, and use the software.

Features

• Import from CSV, QIF, and OFX (although the import filter is VERY finicky).
• Payee and categories support.
• Autocompletion.
• Tag feature
• Pre-defined transaction.
• Pre-filling transactions from bookmark.
• Multiple transaction edit.
• Transfer between accounts.
• Visual paymode.
• Dynamic minor currency toggle.
• Multi-account.
• Annual budget.
• 57 languages
• Works on GNU/Linux, FreeBSD, Microsoft Windows, MacOSX, Nokia N*** and Amiga.

Installation

Installing HomeBank is simple. Since you will find HomeBank in your distributions’ standard repositories you can simply follow these steps:

1. Open up your Add/Remove Software tool.
2. Search for “homebank” (no quotes).
3. Mark the results for installation.
4. Click Apply to install.

That’s it! You should now find the HomeBank menu entry in the Applications > Office menu (or just under Office if you are in KDE).

First run

Figure 1

When you first open up HomeBank you would think a “first run” wizard would start. That is not the case. Instead you will be greeted with a home screen containing no accounts (see Figure 1).

The first task will be to create accounts. To do this, follow these simple steps:

1. Click the Accounts icon.
2. In the new window, click Add.
3. Fill out all necessary information for your account.
4. Click OK.

Your new account will now show up in the main window.

There are two ways to approach using HomeBank. You can use it haphazardly or you can plan out your use so that the yearly budget feature works for you. In order to plan out HomeBank, you will want to first create Payees and Categories. Each transaction can have a Payee and a Category assigned. Here’s how they work:

• Payee: Is who the transaction actually goes to (a retail store, restaurant, utility, etc).
• Category: Is what the transaction is related to. These can be debits or credits (such as Income or expenses).

If you set these up first, you will have a much better time tracking your expenses. Naturally you won’t be able to fill in all payees at first. You can add payees as you go. Creating both Categories and Payees is simple:

1. Click the appropriate button.
2. Enter a name for either the Payee or Category.
3. In case of Category check the “Income” check box if it is an income category.
4. Click the Add button to add the new item.

Figure 2

When you are back at the home window, and you have your accounts listed, you can double click on the account you want to use for a transaction. When you do this the account register will open. In that register (see Figure 2) you can see how simple the interface is.

From this interface you can add a new entry (by clicking the Add button), you can filter the entries in the registry, you can inherit a transaction, you can validate/invalidate a transaction, and you can see a running total of the account.

Reports

The reports feature is a nice way to get a graphical representation of your account(s). From this you can see detailed charts of your accounts. The reports you can view are:

• Statistics
• Overdrawn
• Budget
• Car costs

Final thoughts

If you are looking for an accounting software that is targeted more for users and not accountants or businesses, HomeBank is the software for you. Not only can you keep a running record of your expenses, but you can see your yearly budget at a glance to see your personal spending trends.

GnuCash is a accounting software that uses a double-entry bookkeeping system similar to that of Intuit’s Quicken. GnuCash isn’t just for personal financing. GnuCash can be deployed for small business accounting as well.

I have been using GnuCash since prior to the earliest recorded release (1.21 released on 2/27/2000.) GnuCash has served my financial needs well. But is GnuCash right for you? Before I offer up my personal opinion on this piece of software, let’s examine the features first. The latest review of GnuCash includes the following features:

• Checkbook Style Registry
• Double-entry accounting
• Reports and graphs
• Income/Expense account types
• Multiple currency support
• Stock and mutual fund portfolios
• Customer and vendor tracking
• Invoicing
• Bill payment
• Tax and billing terms
• QIF import
• OFX import
• HBCI support
• Improved import transaction matching
• Statement recollection
• Localization
• Transaction finder
• General ledger
• Online stock and mutual fund quotes
• Check printing
• Scheduled transactions
• Mortgage and loan repayment druid
• User manual

GnuCash main window

As soon as you open up GnuCash you will instantly feel at home with the user interface. Adding entries is as simple as clicking on a new entry, creating a description and then either enter the amount to subtract in the decrease column or the amount to add in the increase column. It’s very simple.

Make note of the dates in the screen shot to the right. This version of GnuCash was just recently installed yet it works with files (I used an old GnuCash file as an example) that are nearly 6 years old!

Reports are an amazing asset to GnuCash. The amount of reports GnuCash can create is fairly extensive. There are 38 different types of reports and/or graphs ranging from simple asset reports to vendor reports and receivable ageing reports.

GnuCash also allows the user to connect via online banking. I have never used this feature because I have never needed it (and because setup requires a lot of information from your bank).

My Thoughts

As I said earlier, I have used GnuCash for a long time now and have never had a single problem. GnuCash has handled multiple accounts for me and makes for some of the easiest backing up I have ever done (simply copy the flat text file GnuCash uses to a backup location or disk).

GnuCash is perfectly suited for anyone looking to replace Quicken or Money for a personal accounting software or a small business setting. For anyone needing larger scale financial needs, you need to look at a database-backend software that can handle scaling.

No matter what platform you are using, give GnuCash a try. You might just find yourself a free replacement for your standard accounting package. Just don’t expect the ability to connect to your tax software – that’s one feature GnuCash has yet to implement. Otherwise GnuCash is the perfect solution for your personal to small business accounting needs.