[GNC] How to do property asset and loan when acquired in the past

[Michael or Penny Novack]

On 6/8/2021 9:22 AM, D. via gnucash-user wrote:
> I'll just note that I have *never* in 15 years had a gnucash-generated loan transaction that matched the actual bank transaction. I have *always* had to adjust the amounts manually after the fact, because the bank will calculate interest and principle amounts based on the exact day (and probably the hour, minute, and second) they receive my payment, which I cannot know in advance. David T.

Speaking as somebody who has written programs to produce amortization 
tables. the reason for non-agreement with the bank (or whoever) isn't 
likely just a matter of the rule they are using to compute interest. And 
yes you COULD know that as will be specified in the loan document. But 
what you will not know are the things like:

a) Number of significant digits used in various places in the computation.

b) The method used (present value, "trial and error", etc.)

c) How the end of the loan (final payment) will be treated. Normally 
will NOT be coming out exactly.

d) The escrow payment amount is another complex calculation. The reason 
the amount seems to jump around year to year is that the balance in the 
escrow account has to remain above zero ALL THE TIME (not just net over 
the entire year)

e) As long as the payment you send is received on time, that will not 
affect anything. I have never seen a loan agreement where that would happen.

Michael D Novack