[GNC] how-to track refinancing and other cost related to it.

[Murugan Muruganandam]

kalpesh

following can be an option. create a master placeholder as FA shown here to track the details.


	                                    Dr	                            Cr
Loan Against Asset 1	Asset:FA:Asset1	      Liability: Loan:Loan1
	                                Expenses: FA:Loan Fees	
		
		
Refinancing 1		                                             Liability: Loan:Loan 2
	                               Liability: Loan:Loan1	
	                               Asset: FA:Asset 2	
	                               Asset: FA:Asset 3	
	                              Expenses: FA:Loan Fees	
		
Refinancing 2		                                                Liability: Loan:Loan 3
	                              Liability: Loan:Loan 2	
	                              Asset: Asset 4	
	                              Expenses: FA:Loan Fees	






 
 
 
  


  
Dr

  
Cr

 
 
  
Loan Against Asset 1

  
Asset:FA:Asset1

  
Liability: Loan:Loan1

 
 
  


  
Expenses: FA:Loan Fees

 
 
  


  


  


 
 
  


  


  


 
 
  
Refinancing 1

  


  
Liability: Loan:Loan 2

 
 
  


  
Liability: Loan:Loan1

  


 
 
  


  
Asset: FA:Asset 2

  


 
 
  


  
Asset: FA:Asset 3

  


 
 
  


  
Expenses: FA:Loan Fees

 
 
  


  


  


 
 
  
Refinancing 2

  


  
Liability: Loan:Loan 3

 
 
  


  
Liability: Loan:Loan 2

  


 
 
  


  
Asset: Asset 4

  


 
 
  


  
Expenses: FA:Loan Fees

 






Saludos Cordiales



Murugan




From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of Adrien Monteleone <adrien.monteleone at lusfiber.net>
Sent: Tuesday, January 31, 2023 12:40 AM
To: gnucash-user at lists.gnucash.org <gnucash-user at lists.gnucash.org>
Subject: Re: [GNC] how-to track refinancing and other cost related to it. 
 
Same way as on paper.

Both of those are expenses. There may be a way to do that with 
sub-accounts though. I think some folks use an 'accumulated 
depreciation' sub-account to not affect the main asset account for that 
item.

The same might be possible with the financing expenses, but are those 
really expenses of that particular asset? It was used as collateral to 
finance something *else* so I would think those financing costs are part 
of acquiring *them* and not the collateral.

Regards,
Adrien

On 1/28/23 9:19 AM, Kalpesh Patel wrote:
> Need some thoughts here as to how-to setup my accounts. Disclaimer: this may
> somewhat dwell into accounting side as well but given the wide breadth of
> the user community wanted to hear all different ways to do setup GNC to
> track everything down to last cent if possible.
> 
>   
> 
> Situation is as follows:
> 
>   
> 
> -          An asset was purchased with cash
> 
> -          Took a loan out against it a year later
> 
> -          The loan was refinanced 8 years later which paid off two other
> assets in the process in addition to previous loan
> 
> -          The loan was refinance again one year later which paid off
> previous loan plus it helped finance another asset
> 
>   
> 
> How should accounts be set up in GNC if someone wants to track the cost of
> financing plus the appreciation/depreciation that may be taking place along
> the way.

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