Thanks for the replies, this is all very helpful. Hopefully last
question:
My partner and I keep separate finances. Does anyone have a
strategy/tips on how to track the balance of the accounts? I was
thinking about something like this (simplified) example:
2021-02-01 buy the house
assets:house 1 house
liabilities:mortgage:principal $ -80
assets:checking $ -10
equity:partner $ -10
2021-03-01 monthly payments
liabilities:mortgage:principal $ X
expenses:mortgage:interest $ Y
assets:checking $ -Z
equity:partner $ -A
Does that seem like a sane way to track everything? Or would I be better
off by, say, tracking 0.5 of the house and 0.5 of the mortgage/interest?
Thanks again!
>> Negative values in the first two postings would mean money flows into
>> your checking account. Mortgage doesn’t usually work like this.
Right, that was my mistake, sorry!
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