KMyMoney: Coming along, but still not there
KMyMoney is KDE's personal financial management program. If you don't have complex needs and a lot of history to import, KMyMoney lets you set up accounts, enter transactions, and generate reports easily, and other features are doable with some help from the generous amounts of documentation. However, KMyMoney is not a good choice for small business owners, who need more functionality than it can provide.
Beyond basic checking and savings accounts, KMyMoney also lets you set up investment accounts, and it will update and track your investments using online data sources such as Yahoo! It can also help you prepare for your taxes by offering the option of marking expense and income categories for inclusion in tax reporting. Setting up accounts representing loans, and tracking assets such as your house or car are also fairly simple in KMyMoney.
With all of the flexibility in the types of things you can record and track, I was surprised to find that there was no built-in wizardry to help end users build and maintain a budget. It would be useful to have a tool that will let you enter the amounts you've budgeted for in a given category, and then be able to generate a report that compares budget vs. actual expenditures for some time range.
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Accounting software has come a long way under Linux
In the past week, we've covered GnuCash, SQL-Ledger, Ledger, KMyMoney, and doing your accounting old-school style using free software spreadsheet applications. While it's clear that each method has its advantages and limitations, it's obvious that accounting under Linux is in much better shape than it was just a few years ago.
While Brian Jones wasn't satisfied with KMyMoney, Conrad Canterford says that GnuCash is "a stable and robust open source accounting solution."
There's still at least one major gap in the accounting applications arena: tax software. The free software applications may be suitable for day-to-day use, but we're not aware of any efforts to create a free software or commercial application like TurboTax for Linux.
That Story.
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You talk the talk, but do you waddle the waddle?