Budgeting and loans

[David Carlson]

On 2/23/2015 9:33 AM, Edward Doolittle wrote:
> This is what I do to budget loan expenses (interest):
>
> 1) I estimate the interest in advance using a spreadsheet
>
> 2) I enter the estimates into the Expenses:Interest:Loan account with the other leg in Liabilities:Loans:Loan
>
> That has the side effect of pre-entering those charges so reports initially get more expense than income eg "profit" estimates for the year start out negative. But that's ok as long as you're aware. You can of course estimate income for the year too but I don't bother.
>
> I like to enter the numbers by hand cuz I like data to pass through my fingers but if you're the less patient type you can export CVS from your spreadsheet and import into gc.
>
> 3) when I do my budget, I "estimate" Expenses:Liabilities:Loan using numbers from the current year rather than last year. That uses my current year predictions which are lower than last year's numbers.
>
> 4) You also need to budget for transfers to Expenses:Liabilities:Loan but in that case you can use last year's numbers or if necessary enter the numbers by hand -- but it's easy cuz they're all the same number.
>
> E
>
> Sent from my iPad
>
>> On Feb 23, 2015, at 8:37 AM, YeOldHinnerk <HRamthun at gmx.de> wrote:
>>
>> Ok, but the loan part works out for you? That is, the amounts of chg in
>> principal and interest due vary over time and it fits the amortisation table
>> by your bank?
>>
>> I'm afraid I have no good news on the budget side. The interface for budgets
>> allows only for manual entries of reusing previous entries. There is nothing
>> that plugs into the scheduled transcation interface , formulas or even
>> import of values. You could calculate the values in your favorite
>> spreadsheet and enter them manually into your budgets...
>>
>> Best,
>>
>> YeOldHinnerk
>>
>>
>>
>> --
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Another way to budget loan and mortgage payments is to budget the
payment to the lender rather than the principal and interest amounts. 
IIR, the GnuCash budget allows that.

David C