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Add to SafariWhen comparing Moneydance vs GnuCash, 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 11th. The most important reason people chose GnuCash is:
GnuCash supports Linux, OSX and Windows and is also free on those platforms.
Question Ranking
Pros
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.
Pro Multi-platform and free
GnuCash supports Linux, OSX and Windows and is also free on those platforms.
Pro Double entry accounting
By fully using the double entry accounting features in GnuCash, you can know (for example) not only that you spent $25 at Hugemart but that you spent $13 on groceries, $2 on disinfecting wipes, and $5 on motor oil. Later on, you can use data from that transaction and others to find out how much you're spending each month on food, home supplies, and car maintenance, along with other expense categories.
Pro Investment support
Pro Small business accounting
Pro Auto backup
GnuCash has auto backup settings so users can set it and forget it.
Pro Easily set up
GnuCash walks the user through setting up their accounts making setup extremely easy for new users.
Cons
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.
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 Report customization is complex and difficult
Setting the options for existing reports requires use of a multi-tab interface with poor usability. Creating new reports requires programming that will be beyond the abilities (or desire to spend time and effort) of many users.
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.
