This one is more so asking for your personal opinions on what the best opensource accounting application is.
I am currently starting a new small business in Information Technology Solutions in Australia so I am after an application that I can input my accounts payable and accounts recievable into (later in time I would like functionality of keeping track of stock but currently in my business there is no need).
It must also have functionality for Australia's Goods and Service Tax (GST). If possible a functionality of creating invoices would be great where it will add a current letterhead to the invoice.
I'm sure there would be a great app that will service all these areas so I do not have to create my own.
I do not want to go out and pay the money on an accounting suite like MYOB or Quicken.