[GNC] scheduled transactions: simple or compound interest calculations in

[Adrien Monteleone]

See my reply in the thread titled "I need basic help" made today that 
gives an overview of Debits & Credits.

Your splits in that transaction should be something like:

Dr. Assets:Deposit Account (amount = cash + interest)
   Cr. Assets:Cash
   Cr. Income:Interest

(These are just general names, use whatever you like.)

You want to reflect the increase in the Deposit Account which is 
comprised of whatever source of funds (a decrease in Cash in the above 
example) and an increase in the Interest earned.

In this particular case, you are recording a shift in assets from one 
asset account to another, (Cash to Deposit Account) and also recording 
the realization of income and its transfer to one of those assets. (the 
Deposit Account)

Regards,
Adrien

On 10/22/23 3:36 PM, Name Same wrote:
> Hi Adrien,
> 
> Thanks for the reply, I figured out how to use the formula
> system with scheduled transactions with some trial-and-error.
> 
> I tried both a simple formula like 1000*4/100 for a recurring
> fixed 4% deposit, and a compounding formula, like:
> computeInterestIncrement( 1000.00 : 0.4 : 12 : i )
> which made me quite rich.
> 
> One thing I note is that in the transaction template, I had to show
> a debit action into the bank account, and a credit action from
> Income:interest to keep the sheet balanced. Is that the right thing to do?
> If I don't credit from income:interest, the interest deposited in the bank
> account shows under imbalance.