Can the placeholder be the asset account itself? Is that a good practice? ------ Original Message ------ Received: Tue, 31 Jan 2023 09:05:37 AM EST From: Murugan Muruganandam <[email protected]> To: "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, Kalpesh Patel <[email protected]> Subject: Re: [GNC] how-to track refinancing and other cost related to it.
> 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. > > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
