Mortgage set-up

[Ernesto Reyes]

List,

My partner and I are paying off a mortgage on a rental unit.  I can account
for the expenses, utilities, property taxes, etc.  I also record the rental
income as such.

But how would I account for the money being paid towards the mortgage by my
partner?

Currently I don't track the mortgage on gnucash, I set-up a loan and apply
payments to that account, so the balance on the account is negative and
continues to grow.

In order to track the mortgage, I would have to account for the portion
being paid by someone else, that part of the money is not income.  So how
would I code it?

For example:
payment to Bank for $1,800

$900         debit my checking account
        $100 Credit the mortgage loan
        $800 Credit Mortgage Interest

$900         debit partners part of payment
        $100 Credit the mortgage loan
        $800 Credit Mortgage Interest

And the question is how do you account for the $900 paid by partner towards
loan?  It can't be income.


-- 
Best Regards,
Ernie