[GNC] Mortgage with daily applied interest

[David Reiser]

Damn Apple mail picking the wrong sending account. This message will appear twice unless Liz catches and dumps the duplicate from the moderation queue…

My credit union calculates interest daily. I think they only did annual percentage/365 x number of days in the month. So any month with 31 days had a slightly higher interest split for the standard payment than months with 30 days. The monthly payment was set by a standard amortization schedule based on monthly payments, but the specific principal vs interest splits varied by month. 

I never did figure out a way to get gnucash to handle it automatically. I just used a scheduled transaction with splits approximately correct, and then edited the transaction each month after the payment hit the bank.

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Dave Reiser
dbreiser at icloud.com





> On Jul 12, 2025, at 07:26, Henrik Morsing <henrik at morsing.cc> wrote:
> 
> 
> Good morning,
> 
> I started using GNUCash a few years ago but I have never managed to get my mortgage payments to work as a proper split expense. I have tried using the mortgage tool but, just like my HP 48G calculator, it gets the amount wrong and I think it is because my lender applies interest daily.
> 
> Is this very unusual and is there a way to get this to work in GNUCash?
> 
> Regards,
> Henrik Morsing
> -- 
>