The Akashic Field Chronicle

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For this week’s Pick-of-the-Week, I’d like to veer away from consumer gadgets like my previous POWs. I mean, there’s only so much gadgets I can personally review (Oooh! Unless manufacturers start giving me samples! That would be neat.) and besides, that’s why there’s Engadget. This week I’ll be reviewing, what is in my opinion, one of the best free and open source, personal accounting software out there. The one I personally use and of course the one that I recommend that everybody should use.

It’s kinda like Quicken (if you’ve ever heard of that), and it’s very simple to use. Okay, I’d admit that its not really the easiest program to learn, but a little patience is all you need and you won’t regret putting in some effort into learning this program.

Do I Need Accounting Software (even a free one)?

The answer is yes! Hmmm… Ok, maybe it isn’t yes to absolutely everyone, but I’d say a majority of the population needs accounting software. Maybe you run a business, even a small one. Or maybe you just got your first paycheck and you wanna budget properly. Maybe you want to track how much you spend during the course of a week or a month. Maybe you just want to make sure you don’t overspend and end up with a negative balance. Or maybe, your like me and you really fancy seeing neat graphs and charts showing you how much money you have (or don’t have).

Or you probably have money on different investments and you want to track them. Maybe you owe a lot of money and you want to budget your earnings so that you can pay for your debts. What ever the reason may be, it’s always best to have data regarding your money.

You Should Learn Accounting

Besides the obvious practical reasons I mentioned above, I also believe you should learn to use accounting software because in the future, you will inevitably be dealing with it directly or indirectly. If you want to be successful, then you have to master the basics of accounting while you’re still young and only need to account for a small amount of money. Good luck managing your potential millions when you can’t even manage your monthly salary.

It’s all about being the boss of you. Maybe you are an employee right now. Maybe you’re at the lowest point in the corporate hierarchy. That doesn’t stop you from being the boss of yourself. Learn the tools of the Big Boss and you won’t stay down there for long.

So How Do You Use It?

Go on over to sourceforge and get your copy of GnuCash. Now, I don’t usually recommend learning open source software from their own documentation (help files, etc.), but this one’s an exception. Usually FOSS software come with sucky (almost unusable) help files, but this one is a diamond in the rough. I learned the entire program from the help file which acts more like a tutorial. Actually it is a tutorial. It guides you from creating your initial accounts, filling up your data, even up to using GnuCash to track your stock investments. Simply amazing!

Head on over to the GnuCash Website to see some screenshots and also see the entire feature list.

(Unfortunately, I can’t really post screenshots from my account because that’s a bit confidential, you might discover how rich I am and have me kidnapped )

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