On 6/27/2017 11:44 AM, Dan Rawson wrote:
Is it possible to automate the splits associated with a home mortgage
transaction? I am downloading the checking account transactions as
QFX from my bank, so from their point of view, it's a single check.
As an example:
Check amount: $3000
For payment X, we might have:
Principal: $1700
Interest: $400
Tax escrow: $900
But for payment X+1, the P&I numbers obviously change, while the total
and tax escrow amounts are un-changed. Unfortunately, I can't
download the split data from the mortgage holder.
Any ideas on how this might be automated? Or should I just live with
doing the manual entry once per month?
a) principle and interest part ---- there is no reason to suppose that
whatever method gnucash would use to calculate an amortization table
that it would agree with what some bank uses. There are a lot of choices
and these are not just where to round off. I have written amortization
table programs.
b) escrow -- there is absolutely no way that guncash could guess this
amount or predict how it will change. Perhaps you are new to having a
mortgage and so do not realize that this portion of your payment will be
adjusted at least once a year << taxes may change, insurance premiums
may change, and the rules how to adjust are complex because the amount
collected monthly doesn't just have to pay the total tax + insurance
premiums but also be OK on a cash flow basis -- the adjustments tend to
oscillate between under and over >>
Michael D Novack
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