Hi Adrien, Thanks for the reply, I figured out how to use the formula system with scheduled transactions with some trial-and-error.
I tried both a simple formula like 1000*4/100 for a recurring fixed 4% deposit, and a compounding formula, like: computeInterestIncrement( 1000.00 : 0.4 : 12 : i ) which made me quite rich. One thing I note is that in the transaction template, I had to show a debit action into the bank account, and a credit action from Income:interest to keep the sheet balanced. Is that the right thing to do? If I don't credit from income:interest, the interest deposited in the bank account shows under imbalance. Best, Robin On Sun, Oct 22, 2023 at 9:11 AM Adrien Monteleone < [email protected]> wrote: > I could be misunderstanding the desired goal. > > Do you want the interest portion to be calculated on the immediate > deposit or on the entire account balance? > > If the immediate deposit, you would simply add a split for the interest > and indicate the amount. (since it is fixed, the rate is irrelevant as > the math always produces the same result, thus no formula is needed.) > > If on the account balance at the time, you can prompt yourself for that > as a variable and let GnuCash do the math. > > The interest split would in this case have a formula instead of a fixed > amount but where the current balance would appear you simply use a word > say 'balance' and gnucash will treat that as a variable. When the > transaction fires, GnuCash will prompt you to enter the balance amount > to be used in the formula. > > Create a copy of your file and do a test transaction as practice if it > helps. > > ----- > Note, the example you cite of adding code to a Scheme file is a much > more advanced approach and it appears to be for a more complicated > situation than you are describing. > ----- > The first transaction in just about any Asset or Liability account will > be to Equity:Opening Balances. This is fairly standard accounting practice. > > In double-entry, money does not appear or disappear. It moves from one > account to another. With respect to Opening Balance, you think of it as > a reason or explanation more than a source or destination account if > that helps. > > > Regards, > Adrien > > On 10/20/23 2:38 PM, Name Same wrote: > > Hi there, > > > > I am new to gnucash, so please pardon me if this sounds too simple a > > question. > > > > How do I schedule transactions to automatically add a percentage interest > > for a fixed deposit for a fixed deposit account? > > https://en.wikipedia.org/wiki/Fixed_deposit > > > > The material on how to enter/use simple or compound interest formulas in > > scheduled translation is not clear. Here are the links I found: 1) > > > https://wiki.gnucash.org/wiki/Scheduled_Transactions#Bank_Account_Interest > , > > and 2) https://code.gnucash.org/docs/C/gnucash-guide/invest_int1.html > > > > Link 2) doesn't have a screenshot that shows what entries were made in > the > > fields/forms to calculate interest, and shows just the result. > > > > Another side problem I face is: When I create a fixed deposit account > with > > an initial amount, the scheduled transaction template for some reason > keeps > > adding "opening balance" to the transactions. How do I just schedule > > interest deposits based on opening balance of fixed deposit account? > > _______________________________________________ > 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.
