[GNC] Record Loan Interest
flywire
flywire0 at gmail.com
Tue May 5 22:30:38 EDT 2020
Thank you. The guide explains a credit card account is a short-term
loan. The Loans section probably needs a reference back to Credit Card
Putting It All Together section which clearly explains Interest and
Payments.
Aaron describes it pretty well, a loan interest transaction generates an
expense interest-paid transaction at the same time. The Loan payment (split
as desired) from the bank account is an independent transaction. The
Income/Expenses reports and the Assets/Liabilities registers work as
expected so everyone's happy.
With the part interest payment described by Aaron, the $1 is from
Liability:Principal.
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