A couple of doubts

[Robert Heller]

At Tue, 15 Dec 2009 16:11:45 -0200 Conscious User <conscioususer at aol.com> wrote:

> 
> Hi Mike, thanks for the reply.
> 
> > 1) There is no way for GnuCash (or any other accounting package) to know 
> > in advance how much you actually pay on any bill. That's why you have to 
> > enter the amount that you DO pay. Not "intentions" but actuality.
> 
> That's too bad. But is "paying the entire bill" that rare of a use case?

Thought question: Do you know what the entire bill will be *before* you
get it in the mail?  Yes, you might know how much you used the card, but
do you know (in advance!) how much the credit card company will tack on
in the way of fees and whatnot?  And will you *always* have the funds on
hand to actually pay the full amount?

> 
> I'm surprised that no accounting package does this...
> 
> > 2) There are a zillion (OK, just dozens) of different ways that interest 
> > might be figured. In theory would be possible to code for a number of 
> > these different ways and provide a menu for users to select the 
> > particular method to apply to this account. In practice that wouldn't be 
> > very useful, prone to user error (wrong selection) and your records 
> > (when you made deposits or withdrawals) and the banks are unlikely to 
> > always agree precisely. More normal you wait till you have a statement 
> > form the bank and enter that month's interest.
> > 
> >    If you don't understand what I meant by "different ways", could you 
> > be a bit more precise what you meant by that 0.5% interest? Was that 
> > 6%/365 times the average daily balance? Or was that 0.5%/30 times the 
> > average daily balance? Or does it matter how many actual days there were 
> > in the month? (with the first example it did).
> 
> I think I used the wrong words. What I what is very simple: my savings
> account to increase by 0.5% each month.
> 
> Thanks again,
> C.U.
> 
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