When comparing GnuCash vs Moneydance, the Slant community recommends GnuCash for most people. In the question“What are the best cross-platform budgeting apps?” GnuCash is ranked 1st while Moneydance is ranked 10th.
Ranked in these QuestionsQuestion Ranking
Pro Small business accounting
Pro Double Entry Accounting
Pro Investment Support
Pro Multi-platform and free
GnnuCash supports Linux, OSX and Windows and is also free on those platforms.
Pro Easily set up
GnuCash walks the user through setting up their accounts making setup extremely easy for new users.
Pro Auto backup
GnuCash has auto backup settings so users can set it and forget it.
Pro Good selection of importable formats
Moneydance supports a good selection of formats, even ones that Quicken no longer does.
Pro Free trial version
Moneydance offers a free trial version so users can test the software before they decide to purchase.
Pro Cross platform
Moneydance is a cross platform app so for those that use multiple operating systems it will be much easier to import and export information to each OS running the same financial application.
Con Double entry accounting may be confusing or difficult for non business owners
For those that are unfamiliar with double entry bookkeeping it may be difficult to understand making using GnuCash a bit confusing on how it works.
Con Costs money
Unlike most applications for Linux Moneydance does cost money, $49 to be exact. So while it is the most robust option available to Linux users, it will cost to be able to use it.
Con Import tags all transactions on import under the same default category
Upon import of financial info, all transactions will be set to the same default category meaning the user will have to go back and change the category by hand to the correct one.