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Gnucash vs ynab6/24/2023 ![]() Some finanicial instituents only give Excel or CSV files. OFX files, a standard financial accounting file format. Most banks provide Quickbook files, ex.QFX or. Downloading the files depends on your banking provider. ![]() With GnuCash, you have to download the transactions yourself and import them in. You lose security on your password but they take care of all the data entry and categorization for you. Applications such as gathers transaction data from your banking info. ![]() assets, income, expenses, etc.Īfter using GnuCash for a week, I find that its data entry is extremely tedious. The application can also create financial reports, ex. The application has an online stock quote feature to gather the latest prices for your stocks. You can create accounts to track cash flow between your savings and chequing accounts, credit accounts, and even trading accounts. When you pay your bills, money from assets goes into paying the liability, and your account remains balanced! Grocery bill goes into Expense->Grocery and goes towards your liability. For example, Salary goes into Income->Salary, and goes towards your assets (Chequing account). It does double entry accounting, meaning each transaction will have 2 records. GnuCash is a financial accounting app written in C. I don’t feel safe handing over my banking password, so I decided to try another application called GnuCash. These applications are most popular, but they either require a subscription, or require login credentials to online banking account. I first looked at popular applications such as and YNAB (You Need A Budget). So last week, I started exploring various personal finance applications to figure out how much money I was saving a year, and how I can increase my savings. After watching the Toronto housing price skyrocket in the past year, I started to worry if I could ever afford a house.
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