Any small business owner and or farming kindly advise us on which accounting software you are using to keep your books of accounts in check and up-to-date?

GNU Cash can be useful

Use Quick Books but bear in mind there some security issues with it and stock control is also a problem.

I've used GNUCash and would recommend it. It works very well for me. I especially like that you can schedule transactions and enter new transactions based on similar ones from the past. It is also very customizable and provides a wide array of useful reports/statements. Plus it's absolutely free and open source.

The only downside I can think of is that the UI is not particularly beautiful. The emphasis is on function rather than looks. I have to say though that the charts since the last update have improved immensely.

Also, although you can use it with a flat file (XML), connecting it to a database (such as MySQL or PostgreSQL) is a much better choice from a robustness, scalability and data security perspective. This is trivial if you are tech savvy but can be a bit intimidating for other people.

Disclaimer: I am not really comparing GNUCash to anything else out there. GNUCash was the first accounting software I used and I fell in love with it. Been using it about 3 years now. So there is a chance that this is a case of "he who does not travel believing that only his mother knows how to cook good food".

@seppuku, how do you deal with dividend payments in gnucash?

We use it for our chama and have declared a dividend. I have been unable to pay out dividends when I credit bank and debit retained earnings.

To go round the problem we have posted dividends as an expense. This however reduces taxable income.

@seppuku, your route still debits retained earnings, that's where the problem is, gnucash doesn't seem to allow this.

Thank you @seppuku for the advice and review. I downloaded and have used it for one week and it is fun and easy to use with what i am accounting for + the guide manual in their website has more info