load druid for 365/365 simple interest
Jim Stead
jstead1 at twcny.rr.com
Wed Mar 12 19:51:12 CST 2003
On Monday 03 March 2003 08:56 pm, Todd Greer wrote:
> I've got a loan that I can't figure out how to express correctly in
> Gnucash.
>
> I think the thing that is odd is that it specifies that interest is
> computed on a 365/365 simple interest basis--I don't know what this
> means. The first payment was due 36 days after the loan date, with
> no prepaid interest. The load calls for equal payments.
>
> When I try to use the druid, it makes every payment 3 cents short.
>
> Is this something that can be done in Gnucash? If so, how? If
> not, should I put in an enhancement request? (This is the standard
> way to do small second mortgages at a major US lender.)
>
> If this does require a change to Gnucash, I'll try to find some
> time to do it (if I can get a little guidance), but I can't promise
> anything.
>
> Thank you,
> Todd Greer <toddgreer at tsgreer.com>
> Founder and President , TSG Software
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at lists.gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
To work around it, in the edit scheduled transactions dialog, you can
add the 3 cents in the various sections of the transactions.
(I did something similar to handle an make up payment for escrow on my
mortgage). you just put " + .03" after the formula. There will
probably be three sections to the transaction, the total taken from
checking, the interest paid to the interest account, and the
principal paid to the loan account. You will need to make sure it
balances out, since the transaction editor can't make sure it is
balanced.
Jim Stead
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