[GNC] Stumped on Mortgage Asst - Screenshots

[David Carlson]

Steve,

I am not going to open your zip file, I imagine it is just documenting the
fact that the P & I calculations don't exactly match your lenders'
statements, which is a known issue, unfixable since they all have their own
way of calculating it.  At least that was the case years ago when I last
set one up.  Many of us, like Will, just accept the numbers as estimates
and correct them when we get the statements.

There has been some discussion in the history here about how to massage the
equations when we want to 'start in the middle' for an existing loan, for
example, but I am not sure how to find those.

On Tue, Aug 2, 2022 at 8:47 AM William Prescott <will at theprescotts.com>
wrote:

> A slight variation on Steve's suggestion.
>
> I made the mortgage payments a 'Scheduled Transaction' with some nominal
> values for principal and interest payments. Then, they were created
> automatically, and I just edited them to get the amounts correct.
>
> Will
>
> On 2022 Aug 2, at 08-02 02:55:33, David T. via gnucash-user <
> gnucash-user at gnucash.org> wrote:
>
> Steve,
>
> I expect others will give you ideas on how or what is mistaken on the
> mortgage assistant.
>
> I, however,  am going to suggest a different approach, which is to forego
> using the scheduled transactions/mortgage assistant altogether, and simply
> enter the monthly payments manually.
>
> The reason I suggest this is due to the fact that (as Michael Novak often
> reminds us on the list) your calculations and the bank's calculations will
> likely not match precisely, due to differences in base assumptions on the
> calculation. Because they won't match precisely, you'll end up editing the
> completed transactions. [For this reason, I truly wonder whether the
> mortgage assistant is actually useful or should be included in the program,
> since it seems to cause more troubles than it solved. That's just my
> opinion, however.]
>
> If, instead, you enter the transactions manually, Gnucash will autofill
> the transaction with the last entered values, and you can quickly modify
> the amounts to match the bank statement.
>
> David T.
>
>
> On August 1, 2022 11:59:06 PM GMT+03:00, "steve.schwandt at fastmail.com" <
> steve.schwandt at fastmail.com> wrote:
> > All,
> >
> >     Please help if you can. I think I've documented with the shots
> required, but if you want to see something else, sing out. Somewhere I am
> missing a very basic concept. I'm trying to use the assistant to create a
> scheduled transaction. The file names describe each step. The file and CoA
> are dummies until I grasp this concept and move on to putting my 401kk of
> MUFUs into the tool.
> >
> > - I've used my current statement, due 1 July to match up a amortization
> website to show the P&I due on 1 July. Amounts and start dates in the
> assistant are configured to match those amounts. Curiously, the website and
> my statement show a different remaining balance, but that is outside the
> scope.
> >
> > - I step you through my assistant.
> >
> > - In the end I show you the result of the assistant, which shows the
> correct P&I. Escrow is wrong, but I'm sure I can fix that in the editor.
> I'll accumulate escrow each month and then schedule a payment from escrow
> asset to tax and insurance expenses once all the above works.
> >
> > - I let GnuCash enter the created transaction (ignoring from birth of
> the loan) and the transaction for 1 July 2022 is actually the P&I for 1 May
> 2035.
> >
> >
> > TIA
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-- 
David Carlson