On Fri, 19 Feb 2021 at 20:40, Alex Branham <[email protected]> wrote:
> Thanks for the responses! So it sounds like your monthly payments look
> something like:
>
> 2021-03-06 foo
> liabilities:mortgage:principal $ -X
> expenses:interest $ -X
> assets:checking
Negative values in the first two postings would mean money flows into
your checking account. Mortgage doesn’t usually work like this.
> I'm having trouble figuring out what the initial house purchase entry should
> look like, though. Did you create something like an "assets:house" account
> with 1 house in it? Or did you balance against "equity:house" or something
> else?
>
> 2021-02-06 someone
> assets:house 1 house
> liabilities:mortgage $ -X
> assets:checking $ -X
That makes sense.
8 years ago, I bought an apartment:
2013-06-02 housebuilder
assets:fixed 1 "apartment X"
assets:checking -650000 RUB ; down payment
liabilities:mortgage -2600000 RUB
Now my ‘liabilities:mortgage’ is negative which means I owe money to the bank.
For some reason, where I live, you don’t repay the principal on first month:
2013-07-01 bank
expenses:interest:mortgage 25821.92 RUB
assets:checking
2013-08-01 bank
expenses:interest:mortgage 27602.74 RUB
liabilities:mortgage 4442.83 RUB ; principal
assets:checking
With the second month’s payment, the ‘liabilities:mortgage’ is still
negative, but a tiny bit closer to zero.
…years pass…
2019-05-02 bank
expenses:interest:mortgage 19781.81 RUB
liabilities:mortgage 10929.64 RUB ; principal
assets:checking
Then I sell another apartment so I have enough money to repay my
mortgage early. The bank still takes interest for the part of month:
2019-05-08 bank
expenses:interest:mortgage 3935.70 RUB
liabilities:mortgage 2081928.96 RUB = 0
assets:checking
Now I don’t owe the bank anything and the zero assertion checks out.
As for the issue Ismael refers to, whenever I spent something on
apartment decorations, hardware, etc., I tracked it in a subaccount:
2017-12-10 materials store
expenses:apartment:materials 2024 RUB ; bathroom ceiling panels
expenses:apartment:hardware 3708 RUB ; bathroom lighting
assets:checking
2018-01-16 contractor
expenses:apartment:services 3000 RUB ; ceiling installation
assets:checking
This way, if/when I want to know how much I improved my apartment, I
can do a ‘ledger bal expenses:apartment’ and have a total.
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