1.3. Top Ten Reasons to Use GnuCash
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## 1.3. Top Ten Reasons to Use GnuCash

We've already discussed some of the general advantages of using GnuCash. Here are some specific features offered by GnuCash that may not exist in other programs.

1. Simple user interface

   GnuCash is a Linux financial software package that is as easy to use as a checkbook register. It's even easier to use than a paper register, because features like auto-completion and other entry shortcuts do most of the entry work for you.

2. Easy import

   GnuCash allows you to import your data from your online bank statement or from another software package using QIF (QuickenŽ Interchange Format) files. An easy-to-use “druid” walks you through loading your files, reviewing them for changes, and importing them into GnuCash.

3. Statement reconciliation

   Reconcile those monthly statements quickly by entering the statement ending balance and checking off transactions. GnuCash helps you catch any discrepancies between your data and the statements you receive.

4. Investment tracking

   GnuCash offers a host of ways to track your investment portfolio. Special investment accounts simplify your data entry, and online update tools allow you to update the prices of your holdings as the markets change. Reports complete the picture, allowing you to analyze your investment decisions.

5. Multiple currency support

   GnuCash allows you to track multiple currencies. If you have bank accounts, investments or other financial data in different currencies, you can monitor these in GnuCash.

6. Customized reports and graphs

   Reports and graphs can give you valuable information for filing taxes, budgeting, or simply figuring out where all the money goes. GnuCash offers a variety of easy-to-use reports and graphs to help you analyze your financial position. It also gives you the freedom to customize your own reports to suit your unique needs.

7. Double entry

   To provide complete records, GnuCash uses the double entry method of bookkeeping. Double entry simply means that money doesn't just appear or disappear - an equal amount must come from one location and go to another location. By entering both locations, you provide information that GnuCash can then use to give you detailed reports of your data.

8. Sources of help

   A Tip of the Day dialog gives helpful tips to new users about GnuCash features. Within the program, a searchable Help menu guides you to the information you need or connects you to the GnuCash web page for further assistance. GnuCash also has strong developer and user communities, and it is easy to get help from these communities through mailing lists.

9. Shortcuts

   GnuCash offers many shortcuts to help you enter your data. When you type the first few characters of a common entry, it will automatically fill in the rest of the entry. You can also use copy, paste and duplicate functions to save typing time. Keyboard shortcuts let you quickly choose a menu option or to enter numerical data.

10. Open source

    GnuCash doesn't hide its methods from you. If you wonder how GnuCash computed a number, you can easily find it out. In addition, you can set preferences that tell GnuCash how much information to display to you. There is no “secret code” used in GnuCash - it continues to be an open-source program.

These are only a few of the advantages you'll discover when you start using GnuCash to track your financial information. Now get ready to enjoy the benefits of GnuCash for yourself!

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