[GNC] mortgage refinance

[Peter West]

> On 22 Mar 2021, at 12:13 am, Derek Atkins <derek at ihtfp.com> wrote:
> 
> Peter,
> 
> On Sun, March 21, 2021 10:07 am, Peter West wrote:
>> 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
> 
> This is wrong -- your Debits and Credits don't sum to zero.

Loan A is an existing loan, so that is just eh current balance on Loan A. I should have shown that somehow, but I was assuming an existing loan.


>> 
>> 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?
> 
> I think I understand what you are trying to say, and *I'm* very confused
> by what you are saying!!!
> 
> -derek
> 
>> 
>> 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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> 
> 
> -- 
>       Derek Atkins                 617-623-3745
>       derek at ihtfp.com <mailto:derek at ihtfp.com>             www.ihtfp.com <http://www.ihtfp.com/>
>       Computer and Internet Security Consultant