automatic interest traction

[Nikos Charonitakis]

On 7/5/07, Vahur Lokk <vahur.lokk at gmail.com> wrote:
> Nikos Charonitakis wrote:
> > Hi.
> > i have a bond that receives money from interest once a year.
> > My bank sends me a statement monthly that calculates interest in
> > arrears, till the given date i receive the statement. These money are
> > not cash yet.
> > So any ideas how i can implement  this in gnucash?
> >
> >
> It depends on what is the status of the calculated interest.
>
> If its actually your money - i.e if you sell the bond early, you will
> get face value plus this calculated interest, then you can 1. create an
> asset account "Accumulated interest" 2. create income account "Interest
> income" (though you probably have it already) and then 3. create a
> monthly transfer between "Accumulated interest" and "Interest income" in
> the amount that has accumulated during the month based on your bank
> statement.
this is the case :)
All these can be done automatically? I want gnucash to calculate
automatically (based on the interest rate of the bond) the amount of
money that have to go to "Accumulated interest" account (once a month
for example) and then when i actually take the money to do the
appropriate transactions a) move money to bank account and interest
income account

Nikos
>
> If its not actually your money, i.e. its there on the banks statement,
> saying basically: "if you hold this bond till next interest day, THEN
> AND ONLY THEN we pay this out to you", then there's nothing you can do -
> from accounting point of view.
>
> Wahur
>
>