erh... um... not taken yet :) On Tue, 2006-04-11 at 14:20 -0400, Derek Atkins wrote: > So, um... where are these screen shots? > > -derek > > Quoting Bengt Thuree <[EMAIL PROTECTED]>: > > > Hi > > Here is another example for the Guide : Loan chapter. > > > > Any comments? > > > > /Bengt > > > > (based upon > > https://lists.gnucash.org/pipermail/gnucash-user/2005-July/014219.html) > > > > A personal loan to a friend > > > > This example will show how to track two personal loans > > * A loan of 1,000 USD (default currency) to Peter > > * A loan of 20,000 EURO (non default currency) to Mark. > > > > We start with the first loan to Peter. > > > >> Assets:Bank:USD (USD) > >> Assets:Money owed to you:Peter (USD) > >> Income:Interest Income:Peter (USD) > >> Equity:Opening Balances:USD (USD) > >> > > > > <Screen shot> > > > > Peter's loan details: > > Pinciple Amount - $1,000 > > Term - 1 years with 12 payments per year > > Annual Percentage Rate: 5% > > Monthly Payment: 85.61$ > > > > (Most spreadsheets have a built in function to calculate the payment. > > In Open Office it is a Financial Function called PMT) > > > > <screen shot of PMT> > > > > When the loan are first made, the accounting entry will be: > > Increase Decrease > > Assets:Money owed to you:Peter $1,000 > > Assets:Bank:USD $1,000 > > > > <screen shot> > > > > When the first payment is received: > > > > Outstanding loan amount this period = $1,000 > > Payment per month = $85.61 > > Payment breakdown > > 5%/12 * $1,000 = $4.17 Interest > > $85.61 - $4.17 = $81.44 Principle > > > > Increase Decrease > > Assets:Money owed to you:Peter 81.44 > > Income:Interest Income:Peter 4.17 > > Assets:Bank:USD 85.61 > > > > The balance on Peters loan is now $1,000 - $81.44 = $918.56 > > > > <screen shot> > > > > When the second payment is received: > > > > Outstanding loan amount this period = $918.56 > > Payment per month = $85.61 > > Payment breakdown > > 5%/12 * $918.56 = $3.83 Interest > > $85.61 - $3.83 = $81.33 Principle > > > > Increase Decrease > > Assets:Money owed to you:Peter 81.33 > > Income:Interest Income:Peter 3.83 > > Assets:Bank:USD 85.16 > > > > The balance on Peters loan is now $918.56 - $81.33 = $837.23 > > > > <screen shot> > > > > As you can see, the amount received in interest and principle changes > > each month. > > > > The Loan to Mark will be according to the same principle. > > The key thing with this loan, is that it is made in a non default > > currency. > > But we use the same account structure as before, but ensuring that each > > account's currency > > is the same currency as the loan is made in (Euro) > > > > > > Assets:Bank:EURO (EURO) > > Assets:Money owed to you:Mark (EURO) > > Income:Interest Income:Mark (EURO) > > Equity:Opening Balances:EURO (EURO) > > > > Mark's loan details: > > Pinciple Amount - 20,000 > > Term - 5 years with 12 payments per year > > Annual Percentage Rate: 6% > > Monthly Payment: 386.66$ > > > > The rest follows the previous example (loan to Peter) > > > > > > > > _______________________________________________ > > gnucash-devel mailing list > > gnucash-devel@gnucash.org > > https://lists.gnucash.org/mailman/listinfo/gnucash-devel > > > > >
_______________________________________________ gnucash-devel mailing list gnucash-devel@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-devel
