Getting started with GnuCash for financial management

Use this open source alternative to Quicken to manage your finances.

I’ve managed my finances with GnuCash for the past seven years and am satisfied with it. The open source (GPL v3) project has been growing and improving since its initial release in 1998 and the latest stable release of GnuCash is 5.6 (2024).

GnuCash is available for Windows, MacOS, and Linux and is available as a mobile app in both the Apple App Store and Google Play Store. The application implements a double-entry bookkeeping system and can import various popular open and proprietary file formats, including QIF, QFX, OFX, CSV, and more. This makes it easy to convert from other personal finance applications, including Quicken, which it was created to replicate.

With GnuCash, you can track personal finances and small business accounting and invoicing. It doesn’t have an integrated payroll system; according to the documentation, you can track payroll expenses in GnuCash, but you have to calculate taxes and deductions outside the software.

Installation

To install GnuCash on Linux:

• On Red Hat, CentOS, or Fedora: $ sudo dnf install gnucash
• On Debian, Ubuntu, or Pop_OS: $ sudo apt install gnucash
• On MacOS: $ brew install gnucash (using Homebrew)
• On Windows: choco install gnucash (using Chocolatey) 

You can also install it from Flathub, which is what I used on my laptop running Elementary OS. (All the screenshots in this article are from that installation.)

Setup

After you install and launch the program, you will see a welcome screen that allows you to create a new set of accounts, import QIF files, or open a new user tutorial.

Personal accounts

If you choose the first option, GnuCash opens a screen to help you get up and running. It collects initial data and sets up your account preferences, such as your account types and names, business data (e.g., tax ID number), and preferred currency.

GnuCash supports personal bank accounts, business accounts, car loans, CD and money market accounts, childcare accounts, and more.

As an example, start by creating a simple checkbook. You can enter your account’s beginning balance or import existing account data in multiple formats.

Invoicing

GnuCash also supports small business functions, including customers, vendors, and invoicing. To create an invoice, enter the data in the Business ->Invoice section.

Then you can either print the invoice on paper or export it to a PDF and email it to your customer.

Getting help

If you have questions, there’s an excellent Help section that’s accessible from the far-right side of the menu bar.

The project’s website includes links to helpful information, such as a great overview of GnuCash features. GnuCash also has detailed documentation available to download and read offline and a wiki with helpful information for users and developers.You can find other files and documentation in the project’s GitHub repository. The GnuCash project is volunteer-driven. If you want to contribute, please check out getting involved on the project’s wiki.