Accounting software is one of the tools that can help you manage and control your business effectively. As we outlined earlier, you want to make sure you meet sales targets, keep expenses under control and watch cash flow carefully. This is what you will be doing on a day-to-day basis and this tool should help you do that. So, you will set up your accounts to help you do that. However, IRS wants you to file your tax returns by following their template.

You need to find a way to meet your business goals and at the same time get the numbers for IRS ready without a lot of manual effort. That is where GnuCash comes in. Using the Income Tax Information window you can map your existing accounts to provide you with the necessary 1040 Schedule C numbers aggregated in a convenient way.