[GNC] Loan repayments created not matching

Tue Nov 5 12:06:30 EST 2024

Jason,

The basic challenge here is that early in a loan's history the principal balance is at its maximum, so the interest portion of the payment is also at a maximum. The last payment is where the principal balance is at the minimum, so the principal portion of that payment is at a maximum.

> On 11/04/2024 1:46 PM PST Jason Seegers <jason.seegers at outlook.com> wrote:
> 
>  
> Ok, actually I figured it out now.
> 
> When using the repayment creator thing, there is a step where you have to select the start date and the total number of payments. The software calculates the remaining periods which i simply ignored and left as it. I changed it back to match the total number of payments and this sorted the problem out. Now the entries created matched what the system calculates.
> 
> Very bizarre. I think this is a bug but perhaps I am misunderstanding the screen I am looking at.
> ________________________________
> From: Jason Seegers <jason.online at outlook.com>
> Sent: 04 November 2024 15:16
> To: David H <hellvee at gmail.com>
> Cc: gnucash-user at gnucash.org <gnucash-user at gnucash.org>; stepbystepfarm at comcast.net <stepbystepfarm at comcast.net>
> Subject: Re: [GNC] Loan repayments created not matching
> 
> Good to know that it works.
> 
> In response to Stephens email, the main formula is pmt( 0.06690 / 12.00 : 96.00 : 28,050.00 : 0 : 0 ).
> 
> How would I check the individual transactions formula and what should I be looking out for?
> ________________________________
> From: David H <hellvee at gmail.com>
> Sent: 04 November 2024 14:05
> To: Jason Seegers <jason.online at outlook.com>
> Cc: gnucash-user at gnucash.org <gnucash-user at gnucash.org>; stepbystepfarm at comcast.net <stepbystepfarm at comcast.net>
> Subject: Re: [GNC] Loan repayments created not matching
> 
> Your images came through fine for me using gmail in the web browser and are also present in the archive  - https://lists.gnucash.org/pipermail/gnucash-user/2024-November/114010.html :-)
> 
> Cheers David H.
> 
> On Tue, 5 Nov 2024 at 05:10, Jason Seegers <jason.online at outlook.com<mailto:jason.online at outlook.com>> wrote:
> Hi,
> 
> https://imgur.com/a/z2iKDyl
> [https://i.imgur.com/VhOjOm7.png?fb]<https://imgur.com/a/z2iKDyl>
> imgur.com<http://imgur.com/><https://imgur.com/a/z2iKDyl>
> Discover the magic of the internet at Imgur, a community powered entertainment destination. Lift your spirits with funny jokes, trending memes, entertaining gifs, inspiring stories, viral videos, and so much more from users.
> imgur.com<http://imgur.com/>
> 
> 
> I've only just realised now that the images I put in didn't actually remain as part of the email when I sent it. So above is an imgur link for the images.
> 
> Basically, it is the system not posting what it says it will which I can't wrap my head around. I am not expecting the calculation to be the same as the bank, this is simply that the software is posting a different amount to what it tells me and the reality is the result it posts is completely wrong but the preview it provides for the result is actually correct.
> 
> Example (in case images done work in imgur link) for period 1 or 1st payment.
> 
> System calculates payment 1 as: 338 split as 199 for capital and 139 for interest
> System then posts: 338 split as 255 for capital and 83 for interest
> 
> As you can see, this is completely incorrect and I don't understand why it isn't posting the numbers it is calculating?
> ________________________________
> From: gnucash-user <gnucash-user-bounces+jason.online=outlook.com at gnucash.org<mailto:outlook.com at gnucash.org>> on behalf of Michael or Penny Novack via gnucash-user <gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org>>
> Sent: 04 November 2024 09:27
> To: gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org> <gnucash-user at gnucash.org<mailto:gnucash-user at gnucash.org>>
> Subject: Re: [GNC] Loan repayments created not matching
> 
> On 11/3/2024 5:20 PM, Jason Seegers wrote:
> > Hi,
> >
> > Not sure what I am doing wrong here but when I use the loan repayment calculator as per the screenshots below, the transactions created don’t match what I am shown and I am stumped as to why.
> >
> > Any ideas to get this to actually agree?
> 
> How far off?
> 
> If a small discrepancy, the "why" is very simple. There is NOT one
> correct way to do the calculation and so no way to expect the result
> from the calculation the loan provider used will match the result from
> the calculation gnucash uses. There are a number of ASSUMPTIONS being
> made (one of the largest, how is the end of the loan handled if, as
> usual, not going to come out even).
> 
> You simply can't expect exact agreement.
> 
> Now as to the two amortizations shown in the screen shots, more useful
> would be the # of each "rent" (periodic payment). We have no way of
> knowing if those absolute dates correspond. In other words, we DON'T
> know if 3/21 is the nth payment on each. Since you are presumably
> dealing with loan start in the past, do you have that past lined up?
> 
> Michael D Novack
> 
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