[GNC] Escrow calculations using mortgage repayment tool

[Adrien Monteleone]

Does the template transaction in the Scheduled Transactions Editor show a split for Orphan-xxx or Imbalance-xxx? (where ’xxx’ is your home currency, USD by default)

If not, then it isn’t out of balance. It will show the balancing splits.

You should see a credit to liabilities::escrow then a debit to the expenses::taxes and expenses::insurance splits as well as a credit to the loan liability account. (mortgage)

When you make your payment, it will be a credit to your source account (cash/checking/savings, etc.) and a debit to the mortgage account and a debit to liabilities::escrow. (the credit to the source, an asset, will reduce it, and a debit to the liability (mortgage &) escrow, will reduce them as well)

I use :: to denote you may have intervening account hierarchy.

Regards,
Adrien


> On Jan 10, 2020 w2d10, at 10:07 PM, Don Ireland <gnuCash at donireland.com> wrote:
> 
> I used the mortgage & loan repayment tool to setup my scheduled payments.  When I looked at the resulting scheduled transaction, it shows money being deposited into the escrow account and immediately taken out of the escrow account for the taxes and insurance.
> 
> How is this going to balance?  The Total of my insurance and taxes is going to escrow then immediately going to the tax and insurance accounts.  That's going to leave an imbalance.
> Don Ireland