[GNC] A question on loans

[Mark Phillips]

David,

Thanks for your emails and explanations. What I am really looking for, is
how to do this transaction:

Increase the loan amount by $30,000 to bring it to the current value.

I don't know where to put the offsetting entry for the $30,000. It does not
go into checking, as I don't have a windfall of $30K in the checking
account or against the Condo asset, nor in an expense account. So where
does it go?

Mark

On Wed, Nov 20, 2019 at 3:45 PM David Cousens <davidcousens at bigpond.com>
wrote:

> Mark,
>
> My apologies , I thought your question referred to recording the current
> value of your property. If your accountant is getting the bank statements,
> to catch your personal copy of the accounts up you will need to obtain
> copies of the bank statements either from him or the bank, if you do not
> have them already.
>
> Your bank may alsooffer  online access to records or offer a download of
> records in OFX or a similar format (my bank provides this facility for the
> past 7 years) in which case you can import the OFX files and then reconcile
> them against your statements (I have had errors on importing on rare
> occasions - transactions may be duplicated in the records for your bank
> account and loan account for example and imported twice although GNuCash
> will try to identify duplicates) which is quicker than entering them by
> hand
> from the statements.
>
> GnuCash has a number of import data formats ( see the GnuCash Tutoria and
> Concepts Guide
> (https://www.gnucash.org/docs/v3/C/gnucash-guide/chapter_importing.html)
> or
> the Help manual
> https://www.gnucash.org/docs/v3/C/gnucash-help/trans-import.html. There is
> currently a lot of duplication here as the material in the Guide has been
> largely already beenmoved to the Help manual and I am in the process of
> rewriting the Guide section as import examples. I have found OFX to be the
> most relaible as it has a fairly tight standard and CSV to be more
> problematical because it has no real standard. QIF is generally OK as
> well.
> In most cases start with small data sets (e.g month) first to sort out any
> importing difficulties and train the import matcher then increase the
> dataset size once you have it working reliably.
>
> Another possibility is that your accountant (for a fee of course) may be
> able to provide you with exported transactions from his records if he has
> entered them digitally.
>
> David Cousens
>
>
>
> -----
> David Cousens
> --
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