At the end of 2022, I discovered this software that I've been using all year. I'd like to hear your thoughts or experiences with GnuCash, or whatever system/program you use to track your personal finances!
For the ones unfamiliar, it's based on a double-entry accounting system; every transaction always has at least two accounts involved. Example: if I spend 200 SEK on a restaurant, it goes from Assets:Cash to Expenses:Food.
Starting by creating my own accounts, it helped me immensely to have an overview of my general financial situation.
Around March, I found enlightening to re-define what expenses needed their own category from what I was unconsciously lumping into 'others'. Having it all already logged, made it quite easy . The caveat is that all the entries are manual, but my finances are not as complex, so with 30-45 minutes a week I have it updated.
You can even create diagrams for your monthly expenses, or general balance, among other reports that come quite handy if you want to run a query.
I do!
Been using it for years. It's the only double entry system I've found that I like.
As others have noted, the reports kind of suck, however, the one feature I love is the tax report functionality.
Tag any number of accounts as tax related, and then, at least for the US, the tax form and line/box number, and you can run the tax report that will, hopefully, give you a report for the selected period with stuff like "Form 1040 Box 32: $32,839.09" etc.
I'm unsure how the interface has changed in recent years. What'd be some more decent visuals you'd like to see?
By the way, what drove you to Moneydance, any feature you'd highlight?
I've tried it many times, but every time I just end up hating it. I'm probably biased by the fact that I'm a DEVELOPER of accounting software, and I'm too used to how our accounting is done in our own ecosystem.
I use it. It's not perfect, but it's the best free one out of all I tried. Been using it for a few years now.