[GNC] Coloring the Action field

[David Carlson]

I think that it would be possible to use the loan wizard to build a
Scheduled loan payment Transaction pointing to an Unallocated Funds account
that could be used just as Michael suggested, adjusting for the correct
interest amount when the value is known.

I need to try that.

On Thu, Dec 16, 2021 at 12:55 PM Stephen M. Butler <
Stephen.M.Butler51 at gmail.com> wrote:

> On 12/16/21 10:05, Michael or Penny Novack wrote:
> > It might perhaps be better to describe WHAT you want to accomplish
> > instead of asking about possibilities for the first HOW that came to
> > your mind. Why? Because there might be other "hows" even simpler.
> >
> >
> > On 12/16/2021 2:25 AM, AC wrote:
> >>
> >> For example, I have a couple loans that are paid fixed amounts each
> >> month but the split of principal and interest varies (of course). I
> >> have automatic payments at the bank set up to pay those fixed amounts
> >> regularly and I have a matching scheduled transaction in GnuCash that
> >> is a placeholder for it so I know how much comes out of my checking
> >> account. What I don't know at that moment is the split between
> >> principal and interest.
> > I'll reword that -- you don't have access (in advance) to the
> > amortization schedule and even if you did, would not help with an
> > automated transaction (but would if a manual transaction_
> >>
> >>   When the payment has gone through I will check the loan records
> >> wherever the loan is held to see how they distributed the payment and
> >> then go back and update the splits to reflect that.
> >>
> >> I do a similar thing for my paychecks, setting up a scheduled
> >> transaction with an estimated amount across splits and then go back
> >> to update the splits with the various amounts withheld from the check
> >> (I mark these as "Deposit").
> >
> > Let's stop here for a second to describe your PROCESS. In either case,
> > you first need to be able to have an automatic transaction (unsplit)
> > that you later need to go back to in order to split once you have the
> > information to do that. You think you need a "marker" of some sort to
> > find the transaction later, to mark the ones you have not yet done.
> >
> > But what was the other side of the transaction?. Let's do the loan one
> > first. That was an automatic (scheduled) transaction, credit to your
> > bank account and debit to (there are always tow sides in double entry
> > bookkeeping) what? Let's say for am moment you had an account under
> > Expense with a name like "unallocated loan payments".
> >
> > Every so often you look. Is the balance of this account zero? No, then
> > you have a loan payment you have not yet allocated to principle and
> > interest. Assuming enough time has passed that you have that
> > information, Enter split mode. Change the account "unallocated loan
> > payments" to "interest" and the amount to what that portion is. The
> > remainder will now have an account Imbalance which you change to "loan
> > principle".
> >
> > Now THAT transaction will no longer appear in "unallocated loan
> > payments" << and if there are no other payments still not allocated
> > the balance of the account  will be zero >>
> >
> > In  other words, the very presence of a transaction in "unallocated
> > loan balance" can serve as your "marker" and is the transaction you
> > want to split. You can do the same for your paychecks, except you
> > would use an account under Income "unallocated paychecks".
> >
> > Michael D Novack
> >
>
> Why not point to the loan wizard and how it can setup an automated
> transaction schedule?  Sure, it is off a few pennies every so often but
> if a person is looking at the loan details a their bank (or get a
> monthly statement) it is easy to adjust the existing transactions.
>
> Once you understand the resulting schedule formula, you can modify for
> extra monthly payments and won't need the wizard to setup the next loan.
>
> --
> Stephen M Butler, PMP, PSM
> Stephen.M.Butler51 at gmail.com
> kg7je at arrl.net
> 253-350-0166
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-- 
David Carlson