'NOT *****SPAM*****', IS: Proper way to enter a loan.

[Rusty Carruth]

Richard Estill <estill@msu.edu> wrote:
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> SPAM: This mail is probably spam.  The original message has been altered
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Interesting. spam assasin got a bit carried away, eh?  ;-)  Labelled your
query as spam, when its not...  Oh, well - so much for automatic spam
identification!  (How much you want to bet MINE gets so tagged also!)

> ...
> I am new to using gnucash. (1.6.8)  I like it a lot so far.  Now I am to
> the point of entering loans. ...
> What is the proper way of entering it?

Well, that depends.  There are for sure accounting rules that I'm probably
breaking myself when it comes to entering loans and such - I'll let the
accounting types speak to that.  For my guess, I'd probably put
it under Liabilities somewhere.

> Then, of course, how do I track it?  Is there a way in gnucash to have
> it calculate the principal and interest on it's own, or will I have to
> separate them on my own and track it as a split?

Cannot help you there.  Hopefully my identifying your query as NOT spam
will help others find and respond!  Also, there have been answers
about this in the past (I seem to recall) - maybe a search of the
archives will turn up the answer(s)?

> I am sure there will be more questions to follow.

Good luck!

rc