kalpesh
following can be an option. create a master placeholder as FA shown here to
track the details.
Dr Cr
Loan Against Asset 1 Asset:FA:Asset1 Liability: Loan:Loan1
Expenses: FA:Loan Fees
Refinancing 1 Liability:
Loan:Loan 2
Liability: Loan:Loan1
Asset: FA:Asset 2
Asset: FA:Asset 3
Expenses: FA:Loan Fees
Refinancing 2
Liability: Loan:Loan 3
Liability: Loan:Loan 2
Asset: Asset 4
Expenses: FA:Loan Fees
Dr
Cr
Loan Against Asset 1
Asset:FA:Asset1
Liability: Loan:Loan1
Expenses: FA:Loan Fees
Refinancing 1
Liability: Loan:Loan 2
Liability: Loan:Loan1
Asset: FA:Asset 2
Asset: FA:Asset 3
Expenses: FA:Loan Fees
Refinancing 2
Liability: Loan:Loan 3
Liability: Loan:Loan 2
Asset: Asset 4
Expenses: FA:Loan Fees
Saludos Cordiales
Murugan
From: gnucash-user
<[email protected]> on behalf of
Adrien Monteleone <[email protected]>
Sent: Tuesday, January 31, 2023 12:40 AM
To: [email protected] <[email protected]>
Subject: Re: [GNC] how-to track refinancing and other cost related to it.
Same way as on paper.
Both of those are expenses. There may be a way to do that with
sub-accounts though. I think some folks use an 'accumulated
depreciation' sub-account to not affect the main asset account for that
item.
The same might be possible with the financing expenses, but are those
really expenses of that particular asset? It was used as collateral to
finance something *else* so I would think those financing costs are part
of acquiring *them* and not the collateral.
Regards,
Adrien
On 1/28/23 9:19 AM, Kalpesh Patel wrote:
> Need some thoughts here as to how-to setup my accounts. Disclaimer: this may
> somewhat dwell into accounting side as well but given the wide breadth of
> the user community wanted to hear all different ways to do setup GNC to
> track everything down to last cent if possible.
>
>
>
> Situation is as follows:
>
>
>
> - An asset was purchased with cash
>
> - Took a loan out against it a year later
>
> - The loan was refinanced 8 years later which paid off two other
> assets in the process in addition to previous loan
>
> - The loan was refinance again one year later which paid off
> previous loan plus it helped finance another asset
>
>
>
> How should accounts be set up in GNC if someone wants to track the cost of
> financing plus the appreciation/depreciation that may be taking place along
> the way.
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