loan account issue

David Carlson david.carlson.417 at gmail.com
Thu Oct 19 10:20:19 EDT 2017


Your problem arises often.  Sometimes it is not even handled correctly by
the financial institution.  In the QIF import the same transaction will be
reversed when it is imported into the loan account compared to when it is
imported into the bank account IIRC.

I did not take Accounting in college, and never had to get the answer
correct on a final exam so I prefer to have GnuCash set to use informal
accounting labels instead of the the formal Debit/Credit.  Then I can see
the loan balance decrease as it is paid off.  Of course, the loan account
is of the Liability type in GnuCash.

So, to answer your first question, I would say source and destination in
QIF imports are not the same as Debit and Credit, and source and
destination are reversed when the transaction is imported into a loan
account, but the sign in the amount should not be reversed to reflect that,
because the loan account type should cause the (source/Destination)
reversal, leaving Debit and Credit the same.

The answer to your second question is that Cash Flow and Profit/Loss are
not the same, so they will not look the same in reports.



On Thu, Oct 19, 2017 at 4:56 AM, lebyarules via gnucash-user <
gnucash-user at gnucash.org> wrote:

> hi all
>
> i have a very similar issue to a previous poster when i import my bank
> statement all is fine, but importing a loan account statement and dr and cr
> are reversed. so any payment towards the loan results in a bigger loan. i
> know i could just manually change them but i just wanted to confirm a few
> things. what is the destination account for importing loan transactions? my
> banks statement shows the principal, interest, and bank fees. is the
> destination account meant to be liabilities-loan or assets-bank? secondly,
> if i send interest to expense-bank interest, then this affects my cash flow
> or profit/loss. im not paying the interest pm its just added back onto my
> total loan amount so nothing is deducted from my asset-bank.
>
> example from my bank loan statement:
> 01Jul2017       PAYMENT - THANK YOU     -3982.55
> 31Jul2017       ADMIN FEE       68.4
> 01Aug2017 INTEREST      2392.66
> 01Aug2017 PAYMENT - THANK YOU   -3936.94
> 31Aug2017 ADMIN FEE     68.4
> 01Sep2017 INTEREST      2336.44
>
>
> any advice would be appreciated for the setup.
> thanks
>
>
>
>
>
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