Line of credit Interest payment question
trythis
grahamlane at gmail.com
Mon Feb 8 17:06:49 EST 2010
My line of credit has two or more lines of payment.
Fixed rate where principle must be paid and variable where only interest
must be paid.
When I make a payment to the bank loan, the bank divies up the payment into
several places. I figured out how to split these up OK.
The problem is when I only owe variable interest payments. The payment goes
to the HELOC loan account, but the bank never increases the principle on
what is owed here. In GC that causes me to make the payment from checking
to Expense:Interest:mortgage and teh payment does not show up at all on my
Liability:HELOC account
Any way to remedy this, or should I just not and make a separate
Expense:interest:HELOC
thanks
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