Budgeting and loans

[Andy Pastuszak]

What I meant was, when paying off a loan, the amount of principal and
interest is different each month.  They vary based on the amortization
table.  The amount I pay each month is the same, but the split changes
month to month.  So I'm not sure how I set up a budget when two of the
budget categories are never going to be the same each month.

Andy

On Mon, Feb 23, 2015 at 9:18 AM, YeOldHinnerk <HRamthun at gmx.de> wrote:

> In general, the loan wizard should allow you to do this. However, there
> are a
> few limitations:
> - If I remember correctly, the wizzard assumes, that you pay off the loan
> completely within the given time. If you for example have a final lump sum
> payment, then all values will be off. You can manually correct this by
> extending the scheduled split transaction:
>    - First subtract the lump sum from the initial loan amount. Use this
> value for the wizzard. Make sure no bookings are created yet, or you will
> have to correct them all.
>    - Second, edit the scheduled split transaction to account for the
> missing
> interest on the lump sum.
>    - Finally, enter the lump sum payment manually (either when due or using
> a future date).
>
> - It isn't easy to change anything during the loan contract. Some contract
> for example allow for to decrease or increase the amount owed with a
> certain
> limit by extra payments / payout. I'm not quite sure yet, but my impression
> is that it is easiest to treat this as a new loan and delete the old
> scheduled transcation (but not the past bookings of course).
>
> I'm not sure where budgets enter the scene?
>
> Best,
>
> YeOldHinnerk
>
>
>
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