Small Business Bookkeeping

Using GnuCash – Vendors, Purchases and Bills

Small businesses often might need to purchase things or services from vendors such as online stores, regular retailers or other small businesses. Whenever a purchase happens, it needs to be recorded in the books. So, let us see how to do this using GnuCash. Let us add a vendor and then the purchase bill. Adding …

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Using GnuCash – Customers and Sales Invoices

Any business needs customers for its continued existence. Major part of the business income is generated from sales to customers. Usually when selling something, an invoice is created in order to document the details of the sale. In this post, let us look at how to add information about customers and sales invoices as well …

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Using GnuCash – Transactions and Opening Balances

Cloud vs Desktop version for accounting software ? Nowadays many of the accounting / bookkeeping software are available in both desktop and public cloud versions. In fact, many of them do not provide an option for desktop version. It is a matter of convenience and personal preference as to which version is considered better before …

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Using GnuCash – Chart of Accounts

The accounting equation says that the difference between total assets of a business and its total liabilities equals its net worth (equity). Assets – Liabilities = Equity This can further be expanded when we consider the income and expense. The equity (net worth) increases when receiving an income and decreases when money is spent for …

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Using GnuCash for Small Business Bookkeeping and Accounting – Installation

(I used to have a small business and previously was relying on third party accountants for bookkeeping and accounting. Though I was okay to send most of the financial documents and receipts to the bookkeeper, I was looking for a software that can be used for personal bookkeeping and accounting as well as preparing the …

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