[GNC] A question on loans

Mark Phillips mark at phillipsmarketing.biz
Wed Nov 20 13:08:58 EST 2019


My apologies, I did a very poor job of asking my question the first time.
Let me try again.

My accounts (with simplified names)
Asset - Condo and Checking
Liability - Mortgage
Expenses - Mortgage Interest

I set up the accounts when I bought the condo a few years ago, made a few
entries for mortgage payments, then stopped. Time passed, the loan changed
banks to a line of credit, and some charges were made to the line of credit
for some non-condo related debt consolidation.

Time passed, and now I would like to get these accounts caught up. There is
a $30,000 difference between the current Mortgage balance (larger) and what
is in gnucash. How do I make an entry to get the Mortgage account to match
the bank statement?

Thanks, and my apologies for sending a poorly written question in the first
place.

Mark

On Wed, Nov 20, 2019 at 10:02 AM Tommy Trussell <tommy.trussell at gmail.com>
wrote:

> On Wed, Nov 20, 2019 at 9:28 AM Mark Phillips <mark at phillipsmarketing.biz>
> wrote:
>
>> I have a rental property, and I am just setting it up in gnu cash. The
>> property has an existing loan. I have paid down some of the loan, but am
>> still making payments. How do I set up the accounts so I reflect the
>> purchase price of the condo correctly, and also show the current correct
>> loan balance?
>>
>> Thanks!
>>
>> Mark
>>
>
> Have you yet read Chapter 8 of the GnuCash Tutorial and Concepts Guide?
> It's available here:
>
> https://www.gnucash.org/docs.phtml
>
>
>
>
>> -----
>> Please remember to CC this list on all your replies.
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>>
>


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