bank account interest

[Jean-David Beyer]

Haichuan Yang wrote:
> Is there any way for Gnucash to calculate the interest on a bank
> account, and automatically enter the interest as an interest income?
> One will have to enter the initial account balance, interest rate,
> compound method (monthly) etc, to make this happen. Or does one have to
> enter manually the interest say, each month?
> 
I do not see how GnuCash could calculate the interest on a bank account, 
at least how the various banks I have had accounts do it. They change the 
interest rates from time to time (lowering the rates, mostly), and GnuCash 
would have no idea of that unless you told it. And you have no practical 
way of knowing when they do that except by guessing that they are doing 
that and calling them to find out, or by looking at your statement.

I even have an account (not at a bank, but at a stock brokers) where they 
change the rate every week, so in a given month, four different interest 
rates are applied. Just how is GnuCash supposed to deal with something 
like that?

Easier just to enter it.

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