setting up mortgage liability and paying it off from a check account asset...

[Morgan Read]

   Hello Folk
   I'm getting my knickers in a knot about setting up a mortgage account -
   there are of course two sides to that equation and it may well be the
   'me' rather than the 'account' that needs fixing...
   OK, I set up a mortgage account (Liabilities:Loans:Mortgage Loan
   NatWest) with:
   - an Opening Balance Balance of 24,813.31 (black for positive) with;
   - an Increase of 24,813.31 (black) from;
   - Equity:Opening Balances Balance (red) of -24,813.31 with;
   - a Decrease of 24,813.31 (black)
   Is that right - it makes a decrease/ negative Assets, which would seem
   to make sense given it's something I owe?  Right, Liability is opposite
   of Asset?  (101 accounting...)
   OK, I've now been paying off that mortgage (liability) monthly with:
   - payments from Assets:Current Assets:Check Account Decrease of 349.00
   (black) with;
   - a Decrease of 349.00 (black) from:
   - Liabilities:Loans:Mortgage Loan NatWest
   (Hope that makes some sense.)
   So, I start off with a black 24,813.31 in Liabilities:Loans:Mortgage
   Loan NatWest and it decreases monthly.  It seems that would make more
   sense if it started off with a red -24,813.31 and it increased
   monthly.  However, if I start off making an Opening Balance Decrease in
   Liabilities:Loans:Mortgage Loan NatWest of 24,813.31 then
   Equity:Opening Balance starts with an Increase of 24,813.31 - which
   doesn't seem correct.  Also, a Decrease from Assets:Current
   Assets:Check Account sends that red -24,813.31 the wrong way - away
   from zero rather than toward zero.
   Can someone help me with where I'm going astray?  It doesn't seem
   correct that decreases (transfers) from the a cheque account should end
   up in the Decrease column of the mortgage; nor does it seem correct
   that I start of with a black 24,813.31 in the mortgage?
   Oh, someone please put me out of my misery.
   Many thanks
   Regards
   Morgan.
--
Morgan Read
United Kingdom
[1]<mailto:mstuffATreadDOTorgDOTnz>

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