[GNC] Track income and expense report for rental property

Peter Wu peter_cd.cn at hotmail.com
Fri Jul 8 11:20:58 EDT 2022


Hi there,
See attached bar chart. Blue means income, red - expense, and green is net profit.

This is inaccurate because the red expense does not include mortgage payment.

Question: how can I include mortgage payment in my monthly income/expense chart?

Here is how I setup things:
I use two account, Asset-bank account, and Liability-Mortgage account. I have fund going out from bank account into mortgage account each month.
Mortgage account has a big balance which I own. Let's say that number is 300, 000$. Every month I put 3000$ in to bring that number down slightly.
I do not split the 3K payment into principle and interest. Too much work….
One other thing I do with mortgage account in gnucash is that, I put an artificial offset transaction against "opening equity" to balance mortgage I own. Balance shows zero in the mortgage account. I do this so I can see the "net worth" reflects how much asset I have without the mortgage balance. (If net worth includes mortgage balance it will always be negative. At the end the day, banks owns all of us I guess...)

Back to my question. With my setup, how can I have an accurate income/expense chart that includes mortgage payments for rental property?

Best,
Peter
[cid:AC7C7AA8-4140-4DD7-8606-AA4DFC191938]
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