[GNC] A question on loans

[Mark Phillips]

A PS to my last email about the mortgage accounts. My gnucash accounts are
for my financial tracking purposes only. My accountant gets bank statements
and other original documents for tax purposes. He has nothing to do with my
gnucash accounts, and is not interested in seeing them.

Just in case my earlier email sounded like I was laundering money or doing
something to cheat the IRS! Or, maybe I have been watching too many
episodes of the Black List....

Mark

On Wed, Nov 20, 2019 at 11:08 AM Mark Phillips <mark at phillipsmarketing.biz>
wrote:

> 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
>>
>>
>>
>>
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>>