Personal Finances in Linux

Interesting article about personal expenses that you can read in
http://www.unixreview.com/documents/s=8217/ur0305l/

May 2003
Review: Kapital 1.1, GnuCash 1.8, and Moneydance
by Marcel Gagné

Whenever I talk about financial applications, I experience an overwhelming need to confess. I hate accounting and everything that goes along with that. The only up side I can see to this whole tracking of money is that I get to spend some of it. Oddly enough, that is why accounting packages are important even to people like me — if you like spending money, it helps to collect it and keep track of it as it comes and goes.

So, putting aside my distaste of accounting, I embarked upon an exploration of personal finance accounting packages for Linux. There are actually far more accounting packages available for Linux than you might imagine, but I was looking specifically at personal finance managers. For that reason, I set my sights on three of the more popular packages: GnuCash, Kapital, and Moneydance.

The Contenders

All three packages are more than just electronic checkbook programs. Each package provides a default set of accounts to get you up and running quickly. They all use a familiar register format for entering and displaying account data, as well as a number of stock reports for those accounts. Each lets you create scheduled transactions, pay bills, and write and print checks. And, of course, all three provide filters to import those Quicken QIF files from your old Windows system.

What sets these packages apart is a combination of style and added bonus features. I started out by saying that all three programs were more than just checkbook programs, but at the heart, that is what each must do and do well. In that respect, GnuCash, Kapital, and Moneydance all do a fine job. But I'm getting ahead of myself.

Installation

I won't spend a great deal of time on installation because, quite frankly, there isn't much to it for the most part. The most daunting is probably Gnucash, which requires a substantial number of additional packages in order to properly install. Its list of prerequisites includes the Gtk+, the GNOME libraries, guile, Guppy, slib, G-wrap, and a handful of additional modules and smaller programs. The complete list, along with the core GnuCash package, is available at www.gnucash.org. If you are using Debian, an apt-get will take care of these for you. Mandrake users will find it just as easy with urpmi.

Kapital was a simple RPM download with only one additional library, Korelib, also available from the Kompany's site at www.thekompany.com. Install the two RPMs and you are on your way.

Moneydance (www.moneydance.com) was just as easy. Simply extract the tarred and gzipped bundle to whatever directory you choose (they suggest /usr/local) and run the moneydance executable from there. This is a Java application, so it will run in a number of different environments.

GnuCash is a free download, but Kapital and Moneydance are both commercial packages. That said, you can get copies of both Kapital and Moneydance for testing without having to commit financially.

It's All About Accounts

With all three packages installed and running, I steeled my resolve and prepared to face one of my great nightmares — the entering of financial information. I created a mythical bank and account, then started entering data, using the same information for each. Aside from my bank account, I created VISA and MasterCard accounts as well.

Then I started spending.

Working with the new GnuCash

On first meeting, GnuCash will provide you with an opportunity to create a new set of accounts, import your Quicken QIF file, or start the tutorial. Since I wanted to just jump into the action (and had no previous Quicken installation), I went ahead and created a new set of accounts. The New Account Hierarchy Setup druid appears and a small question and answer session follows.

On subsequent startups, GnuCash presents you with an overview screen of assets, liabilities, income, expenses, and equity. Each of these categories can be expanded with a click on the plus sign beside the name to reveal further subcategories. For instance, my bank account is filed under current assets, part of the main assets category. While this is a logical way to view your table of accounts, I didn't enjoy having to dig down into my day-to-day accounts (namely my checking account) each and every time I started the program.

That said, entering information into your account register follows a classic check book motif and transactions can be entered directly into the register. Any current or past transaction can also be automated — select the entry and click Schedule. A report on your current account is one click away via a handy button on the toolbar. From the screen report, you can also click on any amount displayed and you'll be instantly transported to that entry in the register.

Speaking of reports, GnuCash has many and they are very flexible, but without any fancy pie and bar charts. This is strictly text. There's an easy-to-use transaction finder, a mortgage and loan repayment calculator but, as yet, no budgeting feature. You can even do online banking with institutions using the open financial exchange protocol (OFX — www.ofx.net).

The latest version of GnuCash is actually something more than strictly a personal finance manager. Some of the things that set GnuCash apart will appeal to the real accountants out there, as opposed to the accounting-fearful-pulling-teeth types like your humble reviewer. For instance, GnuCash users have access to a full general ledger, and account registers can be run in the classic double-entry style — this isn't the default, but is easily turned on via the Preferences menu (under Register). It also includes some small business capabilities such as customer and vendor tracking, invoicing and bill payment, taxes, and billing. Small offices with more than one person entering information will love the fact that it can be set up in a multi-user environment using a PostgreSQL database backend.

That's Kapital

Kapital's first dialogue with the user is a request for a filename in which to store your personal financial information. Given that this is a KDE application, it brings up the familiar KDE file manager dialogue. Simply choose a directory, select a filename (I used myfinances), which will then be saved with a .tkk extension. A dialogue will appear offering you a set of default accounts best suited to your lifestyle. By default, you take the standard accounts, then check off married, married with children, or homeowners for a more likely setup. I chose all but that part about children. Then, I created my bank and credit card accounts.

Default currencies just make sense to me. It's not a big deal to define your currency whenever you create a new account, but I shouldn't have to. Kapital asked me with every account I created, the only package in this group to do so. Furthermore, there was no way to change the setting under the "Configure" options.

Each time Kapital starts, it opens to your default account, presented in the classic check book register style. Over to the right, a sidebar provides quick access to other accounts and credit cards. Beneath the second, "My Finances" button, you are one click away from Kapital's other major functions, transaction finder, check writer, report tool, as well as an address book.

Data entry is quite nice and done directly in the register. There's a drop-down calendar accessible by clicking a small icon to the right of the date field, but the calendar didn't always display properly. I found that by clicking it on and off a couple of times, it would reappear. Clicking on a day in the calendar would also lock in the redraw. It's an annoyance, but certainly not a show-stopper. Payees are memorized so that next time you enter a name, your initial keystrokes will auto-fill the rest of the name. You can also select the payee from a drop-down list. When you enter your balance in Kapital, a small calculator drops down from the input field, allowing you to enter the amount directly, or perform whatever calculation was necessary for you to come up with the numbers. It is also possible to create a split transaction with the touch of a button.

The transaction finder is well designed and relatively easy to use. Looking for transactions based on date and amounts was a breeze. On the other side, it took me a few tries when I wanted to find an entry based on description, because I needed to click the "Regular Expression" checkbox. Reports are clean and easy to use, although the number of reports and the ability to customize them is quite limited at this time.

All told, there's a lot to like about Kapital. Of the three reviewed here, it has the nicest, cleanest interface by far. What's wrong with Kapital is mostly what's missing. There are a number of enhancements promised, including budgeting and check design to name a few, that are supposed to be in the final release. It would have been nice to get a glimpse of it in the download. That said, this is is a package I will certainly want to look at again.

Moneydance 2003

Once you have extracted the gzipped and tarred Moneydance file, you can actually run the moneydance executable from the distribution directory.

With Moneydance's first start, you are given the opportunity to create a new set of accounts, open an existing file, or import your Quicken QIF file. Since I was starting from scratch, I opted for the default set of accounts and selected the Canadian dollar as my base currency.

When Moneydance opened up to its default screen, I was immediately impressed. The layout, while not as pretty as Kapital's QT-based display, is nevertheless beautiful in its promise of usefulness. My default accounts were visible, along with a running total of my net worth ($0.00 at this point), a calendar of events and a list of international currencies and their exchange rates. That last point would have been far more exciting if Moneydance had a way to download the current rates. You have to enter this information yourself.

Entering transactions is also based on the check book metaphor. Fill out the payee, the account from which the money is coming, the date, any comment you wish to make, and the amount. Press the Record button and move on. If this is going to be a recurring transaction, click the Memorize button instead. I found the memorize transaction dialogue particularly well designed and flexible.

Moneydance is an accomplished package with many features. It has a nice loan calculator, a budget manager, and an addressbook (though not as extensive as Kapital's). The transaction finder is easy to use and the reports are many and flexible with quick, color bar and pie charts only a click away.

I experienced only minor problems. During one of my sessions, I found that as long as I worked in the Moneydance window, all was well. As soon as I switched to another desktop and came back, I was looking at a blank gray rectangle so there may be some oddball redraw issues. Closing down Moneydance and restarting it seemed to clear up whatever problem might have existed. All told, a pretty minor glitch in an otherwise fine package.

Conclusion

For out-and-out looks, I have to say that Kapital looks much better than GnuCash, partly due to the fact that Kapital uses the somewhat more polished-looking QT. Moneydance is also a very nice-looking package, and quite refined in both presentation and features, though not up to Kapital's polish. Users coming from the Windows world will probably find that Moneydance makes for an easier transition, although Kapital isn't far behind. Moneydance has great reporting and easily generated graphs so you can see how much (or little) you have in glorious color. GnuCash, for all its capabilities, will require some getting used to both in terms of installation and learning curve.

Final recommendations? For casual home use, I would suggest that you look at Moneydance, particularly if you are used to packages like Quicken. Kapital shows a lot of promise and may well turn out to be the star of the home show, but for now, it is still incomplete. If you are looking for something that can run your small business, be prepared for a little less friendliness and set your sights on GnuCash.

How much will these packages set you back? In some ways, it seems almost unfair to compare these three. While all three packages are capable personal finance and accounting packages, GnuCash has been growing beyond the boundaries of that description, offering some functions that are suited to running the accounting needs of small businesses. Consequently, in this arena, GnuCash has a price that just can't be beat. It's free for the download. Kapital sells a preview version at $24.95 for the download version (for which you will also be able to download the 1.1.0 version when it is released). After the 1.1.0 release, the download price jumps to $39.95. The boxed set is $29.95 ($49.95 after the 1.1.0 release). Moneydance is available for $29.95.

Marcel Gagné lives in Mississauga, Ontario. He is the author of Linux System Administration: A User's Guide from Addison Wesley and has just completed his latest book , Moving to Linux: Kiss the Blue Screen of Death Goodbye (available in August). In real life, he is president of Salmar Consulting Inc., a systems integration and network consulting firm. He loves Linux and all flavors of UNIX and will even admit it in public. He can be reached via email at mggagne@salmar.com. You can discover lots of other things from his Web site at http://www.marcelgagne.com/.
Copyright © 2005 UnixReview.com, UnixReview.com's Privacy Policy. Comments about the Web site: webmaster@unixreview.com