Gnucash is the best open source alternative to most of the commercial accounting apps out there. I have been using it for 2 years & except for some getting used to the new way of doing things, I feel that it can beat most of the accounting apps hands down...
Like another user, I could not even get gnuCash to import the QIF file from my existing program (MoneyDance). It goes through the various stages, and I can see my import data being processed, but when I hit the final APPLY button, the program just closes with no message - nothing. Pretty disappointing to fail like this before it even gets started.
I use it mainly for Accounts Receivable and Invoicing. Business functions like Process Payment have been greatly improved in the last few iterations. The only draw back is the VERY awkward process of changing the look of the invoices. There are great big white spaces around all the items in the header, so fully a third of my invoice is header. System works well, recommend it
I use GnuCash for personal accounts, and also for company accounts and invoicing. The features are great, and usability is improving all of the time, but is more than usable as is with a bit of trial and error.
Russian localisation v2.6.6 crashed in WinXP sp3 in a moment of creating new database file in menu New book settings (on russian) and press Enter (next).
From the version 2.6.4 (including 2.6.5) doesn't show reports at all. Just a blank tab! :(