Problem with Splits

[Dennis Powless]

On one side you should have the total amount you sent to the mortgage
company and the other side the splits.... principle, interest, escrow and
any other items like bank fees extra principle etc....  these should all add
up to the total amount  you sent to the mortgage company...  if they are not
the same you get unbalanced items as Derek as described.

Which side depends on what account your in etc..... debits or credits....



Dennis

On Wed, Aug 3, 2011 at 5:48 PM, Derek Atkins <derek at ihtfp.com> wrote:

> Hi,
>
> On Wed, August 3, 2011 5:32 pm, RobCaldwell.net wrote:
> > I thought I had GnuCash all figured out until I started making entries.
> >
> > I am not sure I understand what the $294.26 and $6.04 are. I did not
> enter
> > those.
> >
> > Image
>
> It would help if you expanded the "transfer" column so we could see the
> full account named.  But my guess is that the "-USD" really says
> "Imbalance-USD".  This split gets created automatically when the
> transaction gets scrubbed.  This happens whenever it gets "committed",
> which happens every time you hit "return".
>
> The 294.26 was the Imbalance that got scrubbed.
>
> The 6.04 is the outstanding amount that has yet to be scrubbed in.
>
> In short:  your tranasction is not balanced.
>
> > I am also entering the escrow as a debit to Liabilities:Mortgage:Bank
> > United:Escrow. However when I indicate that a payment has been made for
> > taxes out of the escrow fund, it adds to the debit column in the escrow
> > account. So I have moved the escrow payments to the increase column to
> > balance it out. Should I have done that?
>
> Is this a payment into escrow or a payment out of escrow?  You will debit
> escrow when you pay into your escrow account, and credit escrow when you
> pay your taxes and insurance out of your escrow account.
>
> > (The principal has actually gone up $25.42. That's why it is in the
> > decrease
> > column. When I look at my Liabilites:Mortgage:Bank United:Principal
> $25.42
> > is now indicated as an increase.)
>
> Then you might have the transaction backwards.  When you pay your mortgage
> you credit your Bank (Asset), and debit the Liability (Loan) and Expense
> (Interest) accounts.
>
> > Thanks,
> >
> > Rob Caldwell
>
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
>
> -derek
>
> --
>       Derek Atkins                 617-623-3745
>       derek at ihtfp.com             www.ihtfp.com
>       Computer and Internet Security Consultant
>
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