LedgerSMB began as a fork from SQL-Ledger by developers who were unhappy with the security of that codebase.
The last year has seen 3 major releases and 21 minor ones. The major releases have added better Point of Sale support, local sales tax support, and many other features, and have also included structural security enhancements. The minor releases have continued to address security issues as well as other bugs in the software. Every major release to date has had at least moderate structural security enhancements, and we expect the next major release (1.3) to be the final release in that trend.
When 1.3.0 is released, we expect it to finally create a stable and robust security architecture. Additionally, the contact management portions of the application will be re-engineered and rewritten on the new architecture. This framework is designed to allow people to write applications in other languages which integrate with the application using any of a number of options (from database stored procedures to web services). 1.3.0 is close to feature freeze at the moment.
Following 1.3.0, we expect to move all the rest of the financial logic over to the new framework. Following that, we will implement any additional outstanding areas into the mew framework. clean it up, and address user interface and workflow issues."