There is also a bill payment reminder in GnuCash which will notify you when bills are due to be paid, and most importantly, will also notify you when a customer's payment is late. You can add the automatic banking import feature during setup, and will have the opportunity to view the data imported from the bank prior to completing the import function, which helps maintain accuracy and eliminates the need for journal entries down the road.
Automatic statement reconciliation is also available in GnuCash, with banking transactions automatically downloaded and matched with system transactions. The business features in GnuCash are quite extensive particularly for a free product and include double-entry accounting functionality, a checkbook-style register for tracking both income and expenses, and the ability to handle transactions in a variety of currencies. GnuCash has been translated into 21 languages and offers solid multi-currency capability, making the product an excellent option for small businesses and startups that conduct business globally. GnuCash was initially developed way back in 1997 as an alternative to Quicken, but newer releases of the application also include solid business features. GnuCash is not cloud-based software, so you'll have to download the application from their website. As a result, the product is great for a sole proprietor, but would not be a good fit for businesses expecting to grow. GnuCash is a single-user system, so you won't be able to add any additional users to the application.
GnuCash is an accounting software that offers basic accounting functionality and is completely free, making it an excellent option for startups and small businesses with limited budgets, as well as for individuals interested in tracking their personal finances.
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