[GNC] Suggestion: add "balance" variable for scheduled transactions

[Stephen M. Butler]

I like it. 

Could you also add "days" as in the number of days from the last posting
of this transaction until this posting (assume posting means "effective
date of transaction".  This would then allow the user to craft the
interest based on number of days and the daily interest rate (fixed
value known at time creating the scheduled transaction).  Be sure the
"interest" is rounded to the nearest penny and not left fraction of pennies.

On 4/7/20 10:53 PM, jeanl wrote:
> GC people!
> The scheduled transaction editor has one special variable "i" which you can
> use in your credit/debit formula, and counts how many times the transaction
> has posted.
> I'm suggesting to add a variable "balance" that would hold the value of the
> account (see below for which) at the time the transaction posts. This
> balance could then be used to compute interest, and other amounts that
> depend on the current balance, within the scheduled transaction.
>
> The idea is to allow *simple* interest computations for basic fixed interest
> mortgage loans that compound monthly (as is typically the case in the US,
> but definitely not in the rest of the world).
> Here's a typical example: You have a 4% interest rate on a mortgage with a
> monthly payment of say $1000 (these have to be known in advance)
> Each month the schedule transaction would transfer $1000 from your checking
> account (for example) and split that into balance*0.04/12 toward an expense
> account "mortgage interest" and 1000-balance*0.04/12 toward reducing the
> mortgage account. "balance" would hold the current principal of the loan at
> that date.
>
> This would easily handle mortgage extra payments: If you pay an extra $500
> in the middle of the month, that goes toward reducing the principal
> (assuming that's how your bank handles it, but that's typical in the US) and
> at the end of the month, the interests computed by the scheduled
> transactions would be computed accurately according to the new loan balance.
>
> Again, all this works only if your interests are compounded monthly and not
> daily.
> The account the "balance" refers to would be automatically detected based on
> the nature of the accounts present in the splits (i.e., it would ignore all
> accounts except for the liability account, assuming there's only one).
>
> I understand this is far from perfect, and only applies to a subset of the
> users, but for these I believe it could be quite useful. It happens to be
> fairly easy to implement, which is why I'm suggesting it.
>
> I'm welcoming any feedback on this idea.
> Jean
>
>
>
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-- 
Stephen M Butler, PMP, PSM
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
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