LedgerSMB is web based Open Source Accounting Software. LedgerSMB is a fork of the popular SQL-Ledger which was described by FLOSBUS here. The Fork came about after a disagreement over security and further more detailed information is available on the internet including here.

LedgerSMB has quite a few aims but initially they have looked to address the security issue and to generally tidy up the code. In the longer term the LedgerSMB team plan to rewrite the original code module by module. A roadmap is available on their website here.

Many users and partners of SQL-Ledger have now moved on to LedgerSMB. Although today the functionality between the two is comparable the future many be more secure for users with Ledgersmb.
As mentioned as of today functionality is vert similar to SQL-Ledger. As well as all of the functionality you would expect from an accounting system including all of the main ledgers LedgerSMB also has POS (Point of sale) time cards and HR (employee records).
LedgerSMB can deal with multi-currency accounting and exchange rates for mult-companies and multi users. There are multiple language translations available and LedgerSMB and be configured to deal with different countries tax regimes.

Summary
Current version 1.2.15 (August 2008)
Platform
Installation Mac, Windows, Linux (Debian) and FreeBSD
All GUI Browsers
Database
PostgreSQL 8.1 or 8.2 receommended (8.3 is not yet supported)
Other Requirements
Web server (Apache,
thttpd 2.22+,
boa, AOL server)
Perl 5+
Well known Users/Case Studies
Not aware of any published
Propiertory Accounts Software Competitors
Quickbooks, Sage Line 50
Useful Links
Site http://www.ledgersmb.org/
Documentation http://www.ledgersmb.org/manual
Forum http://www.nabble.com/Ledger-SMB-f21334.html
