![]() As we will cover more in Chapter 3, income type accounts are used to categorize money received (like a paycheck), and expense type accounts are used to categorize money spent (for pizza, to pay a bill, etc.) These accounts function much like categories in some other financial programs, with a few advantages discussed in Chapter 3.Ī transaction represents the movement of money from one account to another account. In GnuCash, accounts are also used to categorize money you receive or spend, even though these are not physical accounts that receive statements. Credit card accounts also send you statements showing what you owe to a credit card company, and the mortgage company may send you periodic statements showing how much you still owe on your loan. For example, at some point you opened checking and savings accounts at a particular bank, and that bank sends you monthly statements showing how much money you own in these accounts. You probably already think of money you own or owe as being in an account. Although you only have one main data file, that file will contain many accounts. Backup and log files are described later in this chapter.Īn account is a place for keeping track of what you own, owe, spend or receive. GnuCash also provides log files which can be used to help reconstruct data. You will probably have only one data file that you use for your home data, but GnuCash will automatically save a backup copy for you each time you save that data file. The main file that you will use to store your data is a data file. GnuCash provides three types of files: data files, backup files, and log files. GnuCash uses files for storing information.
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