automatic interest traction

[Vahur Lokk]

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.

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