[GNC] Mortgage with daily applied interest

[Robin Chattopadhyay]

My credit union does this also for our home equity line of credit. One option that I’ve used successfully is to model out the interest/principal splits in a spreadsheet and then create a csv file of the future interest payments.

Take that CSV file of future-dated transactions and import that into your account for the mortgage.

You can then create an SX of the total payment that has just two splits (the DR to the liability account and the CR to wherever you’re paying the mortgage from)

I’ve never been more than a penny off and most months it ties out exactly. 



On Jul 12, 2025, at 12:40 PM, David Reiser via gnucash-user <gnucash-user at gnucash.org> wrote:

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.

--
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
> --

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