loan amortization

Rich Shepard rshepard at appl-ecosys.com
Sun Jul 9 12:26:02 EDT 2006


On Sat, 8 Jul 2006, Darren Weber wrote:

> can we obtain a loan amortization in gnucash?

Darren,

   I suspect not. You can find loan amortization calculation software, but
the best solution is to get the table from your lender. They can provide you
the schedule you want.

> I am a complete dummy when it comes to accounting.  I would like to use
> gnucash for my personal managment.  What is the best way to get started
> with gnucash?  Is there an introductory text on how to use it, with
> examples of common tasks and financial management tools?  I would like to
> print a pdf or buy a book so I can read about it on the bus

   Knowing nothing about accounting -- or any other subject -- does not make
one a dummy.

   What I strongly recommend is that you go to your local library (or
bookstore, if you prefer) for a book that's an introduction to accounting.
Look at several until you find one that feels comfortable for you.

   Learn the priciples of double-entry bookkeeping. Each transaction must
have a balance between the debit and credit sides. Paper registers for
checkbooks are single-entry; you record a check number, date, payee, and
amount and that's it. Some folks enter the reason for the expense, many
don't. Same with a deposit: there's a source of that money.

   Gnucash is double-entry so you'll want to think about how you want to set
up your Chart of Accounts. There are four categores: Assets, Liabilities,
Revenues, and Expenses. The introductory book will explain all this to you.

   Once you understand what you're doing -- and why -- then you can learn the
mechanics of applying that knowledge with gnucash.

   It's an excellent application and one that will quickly become essential
to you. Welcome.

Rich

-- 
Richard B. Shepard, Ph.D.               |    The Environmental Permitting
Applied Ecosystem Services, Inc.(TM)    |            Accelerator
<http://www.appl-ecosys.com>     Voice: 503-667-4517      Fax: 503-667-8863


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