Transfers not showing in Income Statement
nick at underthebrim.com
Thu Sep 4 07:01:08 EDT 2008
warlord at MIT.EDU wrote:
> Quoting Nicholas Hasser <nick at underthebrim.com>:
>> I'm running gnucash 2.2.6 on OS X.
>> This is more of a general accounting question than a gnucash question, I
>> I have my mortgage set up as a liability. I have a scheduled transaction
>> set up to transfer my monthly payment from assets:checking_account to
>> I understand that it they aren't income and expense accounts, but how do
>> I reflect this actual payment being made in my Income Statement
>> report? Do I need to set up an expense for my mortgage payment? If so,
>> how do I tie that back into the liability which is the loan?
> You don't. Paying down the loan isn't an Expense. The change
> will, however, appear on your Balance Sheet report. Or you can
> see it in a Cash Flow report.
I knew it would show up in the Balance Sheet. The Cash Flow Report
sounds pretty simple (where money is moving), but I'll have to look into
it because I'm not familiar with it.
Eventually I want to get a budget in gnucash and use the budget report,
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