[GNC] mortgage refinance

[Peter West]

What’s the other side of the new loan set-up? Cash at bank?

So
Liability	Loan A	100,000 Cr
Liability	Loan B	105,000 Cr
Asset	Bank	105,000 Dr

Then
Asset	Bank	100,000 Cr  -> 5,000 Dr
Liability	Loan A	100,000 Dr -> Zero balance
Liability	Loan B	105,000 Dr

Like that?

Peter

—
Peter West
pbw at ehealth.id.au
“Now is the judgment of this world; now will the ruler of this world be cast out.”

> On 21 Mar 2021, at 11:42 pm, D via gnucash-user <gnucash-user at gnucash.org> wrote:
> 
> New loan gets a new liability account. Transaction from new loan top old loan pays off old loan. Old loan goes to zero, is reconciled, and can be set as placeholder and hidden, if desired. Future transactions pay new loan. 
> 
> On Mar 21, 2021, 09:26, at 09:26, Parker Graham <plg57 at gmx.com> wrote:
>> Have mortgage set up in system but refinanced it and need help on how
>> to
>> payoff existing loan and set up new loan
>> 
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