Re: [GNC] Budgeting loans
That's what I did. I made an assett account for each of my loan payments (1 mortgage, 2 car payments.) Would be nice if GnuCash was able to handle this internally somehow. I'm trying to do a "budget to zero" approach and the loan payments were my last holdup. Andy On Sun, Apr 8, 2018 at 12:19 AM, Dale Alspach <alspac...@gmail.com> wrote: > I think something like the following will work. > > You need to create two off-setting accounts: Mortgage Payable > (liability) and a sub-account Mortgage Payment (asset). > You would not budget Mortgage Payable, Mortgage Interest (expense) or > Mortgage (liability). > A typical payment transaction where the payment is $1000 = $200 > principal plus $800 interest would be > Credit Checking $1000 > Debit Mortgage $200 > Debit Mortgage Interest $800 > Debit Mortgage Payable $1000 > Credit Mortgage Payment $1000. > > If your lender has given you a schedule with breakdown of each payment > or you use schedule transactions then you may want to enter this as two > transactions. > Debit Mortgage $200 > Debit Mortgage Interest $800 > Credit Mortgage Payment $1000 > > Credit Checking $1000 > Debit Mortgage Payable $1000 > > Dale > > On 04/06/2018 10:12 PM, Andy Pastuszak wrote: > > Budget it to what account? > > > > Andy > > > > On Fri, Apr 6, 2018 at 11:09 PM, Dale Alspach <alspac...@gmail.com > > <mailto:alspac...@gmail.com>> wrote: > > > > I suggest just budgeting the total payment. Most budgeting issues are > > actually cash flow so the total payment is the important number. > > > > Dale > > > > On 04/06/2018 09:07 PM, Andy Pastuszak wrote: > > > I came up with an idea. I created and asset account called > Mortgage > > > Payment, and do a transfer of my monthly mortgage payment to that > > account. > > > In that account register, I do 2 transactions, one that pays the > > mortgage > > > and one that pays the principal. Need to tinker and see how this > > works for > > > budgeting. > > > > > > On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak > > <apastus...@gmail.com <mailto:apastus...@gmail.com>> wrote: > > > > > >> I'm trying to find the best way to budget a loan. The principal > and > > >> interest of the loan changes every month as you make payments, so > > it's kind > > >> of tough to budget them without being forced to adjust the budget > > amount > > >> every single month. Is there some kind of "best practice" for > > budgeting > > >> loans? > > >> > > >> Andy Pastuszak > > >> > > > ___ > > > gnucash-user mailing list > > > gnucash-user@gnucash.org <mailto:gnucash-user@gnucash.org> > > > To update your subscription preferences or to unsubscribe: > > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > <https://lists.gnucash.org/mailman/listinfo/gnucash-user> > > > If you are using Nabble or Gmane, please see > > https://wiki.gnucash.org/wiki/Mailing_Lists > > <https://wiki.gnucash.org/wiki/Mailing_Lists> for more information. > > > - > > > 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 > > gnucash-user@gnucash.org <mailto:gnucash-user@gnucash.org> > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > <https://lists.gnucash.org/mailman/listinfo/gnucash-user> > > If you are using Nabble or Gmane, please see > > https://wiki.gnucash.org/wiki/Mailing_Lists > > <https://wiki.gnucash.org/wiki/Mailing_Lists> for more information. > > - > > 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 gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Budgeting loans
I think something like the following will work. You need to create two off-setting accounts: Mortgage Payable (liability) and a sub-account Mortgage Payment (asset). You would not budget Mortgage Payable, Mortgage Interest (expense) or Mortgage (liability). A typical payment transaction where the payment is $1000 = $200 principal plus $800 interest would be Credit Checking $1000 Debit Mortgage $200 Debit Mortgage Interest $800 Debit Mortgage Payable $1000 Credit Mortgage Payment $1000. If your lender has given you a schedule with breakdown of each payment or you use schedule transactions then you may want to enter this as two transactions. Debit Mortgage $200 Debit Mortgage Interest $800 Credit Mortgage Payment $1000 Credit Checking $1000 Debit Mortgage Payable $1000 Dale On 04/06/2018 10:12 PM, Andy Pastuszak wrote: > Budget it to what account? > > Andy > > On Fri, Apr 6, 2018 at 11:09 PM, Dale Alspach <alspac...@gmail.com > <mailto:alspac...@gmail.com>> wrote: > > I suggest just budgeting the total payment. Most budgeting issues are > actually cash flow so the total payment is the important number. > > Dale > > On 04/06/2018 09:07 PM, Andy Pastuszak wrote: > > I came up with an idea. I created and asset account called Mortgage > > Payment, and do a transfer of my monthly mortgage payment to that > account. > > In that account register, I do 2 transactions, one that pays the > mortgage > > and one that pays the principal. Need to tinker and see how this > works for > > budgeting. > > > > On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak > <apastus...@gmail.com <mailto:apastus...@gmail.com>> wrote: > > > >> I'm trying to find the best way to budget a loan. The principal and > >> interest of the loan changes every month as you make payments, so > it's kind > >> of tough to budget them without being forced to adjust the budget > amount > >> every single month. Is there some kind of "best practice" for > budgeting > >> loans? > >> > >> Andy Pastuszak > >> > > ___ > > gnucash-user mailing list > > gnucash-user@gnucash.org <mailto:gnucash-user@gnucash.org> > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > <https://lists.gnucash.org/mailman/listinfo/gnucash-user> > > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists > <https://wiki.gnucash.org/wiki/Mailing_Lists> for more information. > > - > > 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 > gnucash-user@gnucash.org <mailto:gnucash-user@gnucash.org> > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > <https://lists.gnucash.org/mailman/listinfo/gnucash-user> > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists > <https://wiki.gnucash.org/wiki/Mailing_Lists> for more information. > - > 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 gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: Budgeting loans
Can you budget a split transaction? Get Outlook for iOS<https://aka.ms/o0ukef> From: Kurt Padilla <kurt.padi...@gmail.com> Sent: Saturday, April 7, 2018 10:12:03 AM To: Andy Pastuszak Cc: Gnucash Users Subject: Re: Budgeting loans I use a split transaction for my mortgage payment that takes care of principle, interest, and escrow all at once. I haven't used the budgeting feature yet, but I use both expenses and cash flow reports to get a mostly complete financial review every month. Kurt On Fri, Apr 6, 2018, 22:10 Andy Pastuszak <apastus...@gmail.com<mailto:apastus...@gmail.com>> wrote: I came up with an idea. I created and asset account called Mortgage Payment, and do a transfer of my monthly mortgage payment to that account. In that account register, I do 2 transactions, one that pays the mortgage and one that pays the principal. Need to tinker and see how this works for budgeting. On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak <apastus...@gmail.com<mailto:apastus...@gmail.com>> wrote: > I'm trying to find the best way to budget a loan. The principal and > interest of the loan changes every month as you make payments, so it's kind > of tough to budget them without being forced to adjust the budget amount > every single month. Is there some kind of "best practice" for budgeting > loans? > > Andy Pastuszak > ___ gnucash-user mailing list gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. -- Sent from the Google Inbox Android app. GnuPG encryption available upon request. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: Budgeting loans
I suggest just budgeting the total payment. Most budgeting issues are actually cash flow so the total payment is the important number. Dale On 04/06/2018 09:07 PM, Andy Pastuszak wrote: > I came up with an idea. I created and asset account called Mortgage > Payment, and do a transfer of my monthly mortgage payment to that account. > In that account register, I do 2 transactions, one that pays the mortgage > and one that pays the principal. Need to tinker and see how this works for > budgeting. > > On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak <apastus...@gmail.com> wrote: > >> I'm trying to find the best way to budget a loan. The principal and >> interest of the loan changes every month as you make payments, so it's kind >> of tough to budget them without being forced to adjust the budget amount >> every single month. Is there some kind of "best practice" for budgeting >> loans? >> >> Andy Pastuszak >> > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > 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 gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: Budgeting loans
I came up with an idea. I created and asset account called Mortgage Payment, and do a transfer of my monthly mortgage payment to that account. In that account register, I do 2 transactions, one that pays the mortgage and one that pays the principal. Need to tinker and see how this works for budgeting. On Fri, Apr 6, 2018 at 9:22 PM, Andy Pastuszak <apastus...@gmail.com> wrote: > I'm trying to find the best way to budget a loan. The principal and > interest of the loan changes every month as you make payments, so it's kind > of tough to budget them without being forced to adjust the budget amount > every single month. Is there some kind of "best practice" for budgeting > loans? > > Andy Pastuszak > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Budgeting loans
I'm trying to find the best way to budget a loan. The principal and interest of the loan changes every month as you make payments, so it's kind of tough to budget them without being forced to adjust the budget amount every single month. Is there some kind of "best practice" for budgeting loans? Andy Pastuszak ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
