[GNC] How To Account For Mortgages With Redraw Amounts?

[Michael or Penny Novack]

On 3/28/2022 4:26 PM, arthur brogard via gnucash-user wrote:
> That's brilliant, David.  Thank you.
>
> I'll get to it, see how I go.  Main  hassle might be undoing what I've already done.
> Perhaps we can make copies of a set of books and play with the copy until satisfied?
> regards,
> d


Absolutely -- gnucash will let you have any number of books, and one of 
the things I would advise is having one set "test". I would especially 
advise this if new to double entry bookkeeping as well as new to 
gnucash. That gives you a place to experiment with features and 
procedures without endangering your "production" data.

Back to your original question, how to enter an existing periodic loan 
(especially one like a mortgage which perhaps has an associated escrow 
account). hat do you have as data? You probably want to begin with a 
statement from the lender showing you what the balances are at some 
point in time.

If instead of using the "opening balance" feature you created the 
accounts with zero balance you would enter this information with a 
"starting transaction" (and being a transaction you could include 
descriptive information like "from statement xx/xx/xxxx"

Michael D Novack