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Chapter 11. Financial software

Fedora offers software financial software for both the GNOME and KDE environments. GnuCash is the financial software recommended for users with the GNOME desktop environment, and KMyMoney is recommended financial software for the KDE environment. Although each financial software application is recommended for a specific desktop environment, remember both will work on any Fedora desktop environment. Both applications can be used for personal and business, and configured for online banking.
GnuCash and KMyMoney are not installed by default from the Live CD or the DVD. If you do not have access to the Internet, you can install them with the Fedora DVD. Refer to Chapter 17, Managing software for instructions. You can install them by either using the PackageKit application or on the command line by using Yum .

11.1. GnuCash

GnuCash allows you to track personal and business bank accounts, stocks, income and expenses, and is based on double-entry accounting principles.
For additional help using the application, refer to http://www.gnucash.org/docs.phtml documents.

11.1.1. Configuring GnuCash

To configure GnuCash:
  1. Start GnuCash by clicking Applications > Office > Gnucash Finance Management . Click the Close button to close the Tip of the Day window.
  2. From the Welcome Window select which wizard you want to open and click the OK button.
  3. Select Create a new set of accounts and click the Forward button on the Setup Account Hierarchy window.
  4. Choose your curency and click the Forward button.
  5. Select all of the boxes next to the accounts you want to create in the Categories window, then push the Forward button.
  6. Follow the directions in the Setup new accounts window, then click Forward .
  7. Click the Apply button to finish your account setup.
  8. To import a Quicken .qif file, select the box then press the Forward button.
  9. Select the .qif file to load and click the Forward button.
  10. Now you have the option to load more QIF files for additional accounts. Select the Forward button.
  11. Pressing the Forward button guides you through Matching QIF accounts with GnuCash account , Matching QIF categories with GnuCash accounts , and currency selection.
  12. Click the Apply button to import your data, or the Back button to review your matchings.

11.1.2. Using GnuCash

Open GnuCash by selecting Applications > Office > GnuCash on the top menu panel. The Accounts tab opens.
The top menu bar allows you to manipulate your accounts. You can:
  • Edit , Delete and Create new accounts .
  • Set Preferences .
  • Schedule Transactions .
  • Do transfers .
  • Reconcile an account.
  • Enter Stock Splits .
  • Add Customers , Vendors , and Employees for a business.
  • Set Reminders .
  • Generate Reports .
  • Setup Online Banking .
  • Edit Prices of inventory.
  • Access the General Ledger .
Double click on an account to bring up a check book type register for that account. The top menu bar changes to allow manipulation of transactions. This menu includes the options above, plus you can:
  • Change the view of the ledger from Basic Ledger to Auto-Split Ledger , Transaction Journal , or Double Entry .
  • Cut , Copy , Paste , Duplicate , Delete , Void , and Enter transactions.
  • Set Billing Terms for customers.
  • Create Bills , Invoices , and Vouchers .

11.1.3. Setting up online banking

Online banking setup begins from the Accounts window or the Register .
  1. On the top menu bar select Tools > Online Banking Setup .
  2. The Initial Online Banking Setup window lists what you need to complete the setup.
  3. Click the Forward button.
  4. Select the Start AqBanking Wizard in the Start Online Banking Wizard window.
  5. The Configuration window Intro provides a summary of what you can do.
  6. Type in the information required in the Users , Accounts , and Backends tabs on the top of the window.
  7. Select the OFX-Direct Bbackend if you are not sure which one to use.
  8. You may need to call your bank to get their server URL. If you chose the OFX-Direct backend it is likely their URL is https://ofx. yourbank .com/.
  9. Return to the Start Online Banking Wizard and click the Forward button.
  10. Check the appropriate boxes under the New? column to match the bank accounts with your GnuCash accounts.
  11. Click the Forward button.
  12. Click the Apply button to finish.
  13. To download your bank transactions select the Accounts or Register tab then: Actions > Online Actions > Get Transactions or > Get Balance and fill in the information asked for to complete the operation.

 
 
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