[GNC] Budgeting loans
Andy Pastuszak
apastuszak at gmail.com
Sun Apr 8 10:53:32 EDT 2018
That's what I did. I made an assett account for each of my loan payments
(1 mortgage, 2 car payments.) Would be nice if GnuCash was able to handle
this internally somehow. I'm trying to do a "budget to zero" approach and
the loan payments were my last holdup.
Andy
On Sun, Apr 8, 2018 at 12:19 AM, Dale Alspach <alspachde at gmail.com> wrote:
> I think something like the following will work.
>
> You need to create two off-setting accounts: Mortgage Payable
> (liability) and a sub-account Mortgage Payment (asset).
> You would not budget Mortgage Payable, Mortgage Interest (expense) or
> Mortgage (liability).
> A typical payment transaction where the payment is $1000 = $200
> principal plus $800 interest would be
> Credit Checking $1000
> Debit Mortgage $200
> Debit Mortgage Interest $800
> Debit Mortgage Payable $1000
> Credit Mortgage Payment $1000.
>
> If your lender has given you a schedule with breakdown of each payment
> or you use schedule transactions then you may want to enter this as two
> transactions.
> Debit Mortgage $200
> Debit Mortgage Interest $800
> Credit Mortgage Payment $1000
>
> Credit Checking $1000
> Debit Mortgage Payable $1000
>
> Dale
>
> On 04/06/2018 10:12 PM, Andy Pastuszak wrote:
> > Budget it to what account?
> >
> > Andy
> >
> > On Fri, Apr 6, 2018 at 11:09 PM, Dale Alspach <alspachde at gmail.com
> > <mailto:alspachde at gmail.com>> wrote:
> >
> > I suggest just budgeting the total payment. Most budgeting issues are
> > actually cash flow so the total payment is the important number.
> >
> > Dale
> >
> > On 04/06/2018 09:07 PM, Andy Pastuszak wrote:
> > > I came up with an idea. I created and asset account called
> Mortgage
> > > Payment, and do a transfer of my monthly mortgage payment to that
> > account.
> > > In that account register, I do 2 transactions, one that pays the
> > mortgage
> > > and one that pays the principal. Need to tinker and see how this
> > works for
> > > budgeting.
> > >
> > > On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak
> > <apastuszak at gmail.com <mailto:apastuszak at gmail.com>> wrote:
> > >
> > >> I'm trying to find the best way to budget a loan. The principal
> and
> > >> interest of the loan changes every month as you make payments, so
> > it's kind
> > >> of tough to budget them without being forced to adjust the budget
> > amount
> > >> every single month. Is there some kind of "best practice" for
> > budgeting
> > >> loans?
> > >>
> > >> Andy Pastuszak
> > >>
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