Hi Jorge,
If the monthly contributions are interest (so not reducing the principal
of the loan), they are expenses, so I would model it like this
Income:Jorge -200
Income:Partner -100
Expenses:Interest 300
If they are paying back some of the principal, I would model it like
this (basically you are shifting the loan from the bank to you and your
partner)
Liabilities:LoanJorge -600
Liabilities:LoanPartner -100
Liabilities:LoanBank 700
If it's a combination you will have both.
Regards,
Patrick
On 28.11.2021 10:15, Jorge Martínez López wrote:
Hi Patrick,
This is indeed quite useful and does exactly what I need, thanks a lot.
For the sake of completeness, I assume that monthly contributions
towards the mortgage would look like this on the shared ledger:
Liabilities:LoanJorge -800
Liabilities:LoanPartner -200
Liabilities:LoanBank 700
Expenses:Interest 300
Kind regards,
Jorge
On Sat, 27 Nov 2021 at 19:21, 'Patrick Ruckstuhl' via Beancount
<beancount@googlegroups.com> wrote:
Hi,
It's always about splitting income/expense from asset flows
So to give a more complete example for buying a flat.
My assumptions
- deposit is 5000, you pay 3000, your partner 2000
- you pay an additional 10000 for the flat out of assets, you 8000,
partner 2000
- you take on a common loan from a bank for 20000
Jorge
Assets:Receivable:LoanFlat
+3000 Deposit
+8000 Purchase
Expenses:Common
+ 1000
Partner
Assets:Receivable:LoanFlat
+2000 Deposit
+2000 Purchase
Expenses:Common
+1000
Common
Assets:Flat
+3000 from Liabilities:LoanJorge (Deposit)
+2000 from Liabilities:LoanPartner (Deposit)
+8000 from Liabilities:LoanJorge (Purchase)
+2000 from Liabilities:LoanPartner (Purchase)
+20000 from Liabilities:LoanBank
Liabilities:LoanBank
-20000
Liabilities:LoanJorge
-3000
-8000
Liabilities:LoanPartner
-2000
-2000
Income:Jorge
+1000
Income:Partner
+1000
Expenses:Fees
-2000
On 27.11.2021 10:20, Jorge Martínez López wrote:
Hello,
Thanks Patrick!
Your model makes sense. From the individual ledger point of view, do
you also include the interest paid in the transfer to
Assets:Receivable:LoanFlat? Or would you transfer it to
Expenses:Shared or Expenses:Interest?
In the common ledger I still have the issue that the one-off large
contribution to the deposit (from Income:Jorge and Income:Partner to
Assets:Home:Deposit) is significantly larger than our normal monthly
incomes and expenses, so the charts in the income statement are now a
bit unreadable. Is there any way around this? What about the monthly
contribution, would you create separate income accounts for regular
expenses (at 50%) and flat contributions?
Thanks again for your help!
Kind regards,
Jorge
On Fri, 26 Nov 2021 at 10:42, 'Patrick Ruckstuhl' via Beancount
<beancount@googlegroups.com> wrote:
Hi Jorge,
The way I would model this is, to model the flat itself as an asset and
the contributions to the flat as loans. Something like this
Jorge
Assets:Receivable:LoanFlat
Partner
Assets:Receivable:LoanFlat
Common
Assets:Flat
Liabilities:LoanJorge
Liabilities:LoanPartner
Because in the end this is not an expense, but a change of "assets". You
"converted" cash into a flat.
That should solve both your problems.
One time fees for the purchase would be modeled as expenses but the main
part of the money should be converted into the asset with the value of
the flat.
Regards,
Patrick
On 26.11.2021 11:32, Jorge Martínez López wrote:
Hi folks,
Just wanted to run this through the group to make sure I'm doing
things the right way.
I have been using Beancount for a couple of years. I started with a
single ledger but then moved to two: one to track my own income and
expenses, the other for shared expenses with my partner (bills and
groceries).
For the shared expenses every month I transfer some money from my
personal bank account to our joint account. In my personal ledger that
goes to "Expenses:Shared:Partner", and in the shared ledger that comes
from "Income:Jorge" (and Income:Partner for her transfers).
That has worked very well but now there is a slight complication as we
are going to buy a flat and while we will still pay the bills 50% /
50%, I'll be paying a slightly higher share of the flat.
The first hurdle is that now the "Income:Jorge" and "Income:Partner"
accounts in the shared ledger are not balanced 50% / 50%. I was
thinking about using separate "Income" accounts for contributions to
the flat or perhaps using tags to exclude tagged transactions in the
fava dashboards but I can't find the way to do it. Moreover, I guess
that I'd also need subaccounts on the "Expenses" and "Liabilities"
accounts (for interests and mortgage)?
The other thing that doesn't look entirely right is that as soon as we
transfer the money for the deposit into the joint account the scaling
of the Fava charts went much higher so our normal income and expenses
are now almost invisible. Which makes me think... Perhaps I'm doing
this wrong and should track the flat on a separate third ledger?
I'm hoping this is a rather common scenario and most folks have
cracked this. I'd appreciate your thoughts on this.
Kind regards,
Jorge
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