Mortgage investment income

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Hi, all.  

I’m relatively new to gnu cash (and accounting for that matter).  I am trying to convert a spreadsheet that manages a mortgage I hold on a relative’s property.

I’ve read the “Loan to a friend” docs, and google (actually ixquick) searched for how to do this.

Here’s my problem.  The mortgagee is a more or less deadbeat.  It’s a long story. . .

Here’s what’s supposed to happen:

1.  Mortgage prin & interest calculated on the last day of the month.
2.  Payment rec. last day of month, credited to P&I
3.  Property holder pays their own property taxes.

This I can figure out.  Prin is credited to Mortgage in the Capital Asset, reducing the balance (split transaction)
Interest is credited to present income in the Income section and placed in the checking account (current assets).

As long as that happens life is good in gnu land.

But, as it happens this particular relative doesn’t do that.  I now have a tax escrow to deal with as well, so I changed the setup to do this:

1.  Mortgage Asset (prin)
2.  Mortgage Interest (income)
3.  Tax Escrow (short term liability, as this is restricted funds to be used for taxes)

Because several payments are missed each year, the unpaid interest was being paid by the end of the year.  So, rather than inflate the principle balance, I decided to carry unpaid interest in a separate account which the mortgage documents permit me to do.

Next iteration:

1. Mortgage asset
2.  Mortgage interest (income)
3.  Tax Escrow (liability)
4.  Unpaid interest carried forward (???  long term asset, I think).

So, my question is how is the best way to do this.  To give a concrete example of what is supposed to happen, the payment is $1000 on the last day of the month.  The interest is 750, the taxes are 150 and the principle is 100.

This breaks down this way:  A check comes in for $1000 and is deposited in the Checking account.  the money is then allocated to tax escrow liability, present interest, past due interest and if any is left over, principle.

When a check doesn’t come in, the interest is still due, but unpaid, and does not become income to me until it is paid.  (There is a minimum threshold income that the IRS insists on, but that hasn’t been an issue, at least not yet).

So, how do I move present interest income from the income ledger to the unpaid interest ledger, moving it from an income item to an asset item?

Thanks for any insight!