loans in gnucash

Eric E Moore
Thu, 30 Aug 2001 13:06:53 +0100

>>>>> "Matt" == Matt Kowske <> writes:

Matt> hey everyone, i was wondering if someone could explain to me the
Matt> "correct" way of setting up a loan?  i have some loans for
Matt> school.. some that are collecting interest and some that aren't.
Matt> what type of account could I make these and how could i enter
Matt> the interest accrued on them thus far?  thanks for any help.

Create a liability account called "loan" or whatever you like, and an
"interest" expense account.  When you get charged interest, credit the
loan account, and debit the "interest" account.