Note that there is a pull request that adds the ability to use the
current balance of an account in a scheduled transaction.
https://github.com/Gnucash/gnucash/pull/682
This allows setting up a scheduled transaction for your mortgage payment
that's smart enough to compute the interest owned based on the current
balance of the mortgage account. So for example, if you make an extra
payment, the scheduled transactions created by the current "Mortgage &
Loan Repayment Assistant" will all be off. But if you setup your
schedule transaction to use the current balance to compute the interest
owned, the correct interest will be calculated no matter your
prepayments etc.
That pull request has been sitting on the list since April, as the
powers that be don't seem to think it's a priority or even a good idea
to merge it into maint or master. Check it out, and voice your interest
if you think that would be useful to you.
Jean
On 9/16/20 9:52 AM, David Carlson wrote:
In release 2.6.19, which I am still using, it is found in the menu tree in
the location Christopher Lam described. The help manual section for
Account Tree > Actions > Scheduled Transactions > Mortgage & Loan
Repayment... refers to a section called Mortgage & Loan Repayment Assistant
which describes how it works. There used to be a reference to a section on
the website about using variables in scheduled transactions, but I cannot
find it today.
This tool works fine as far as it goes, to set up a traditional mortgage
repayment scheduled transaction following the calculation methods
traditionally used in the US. Unfortunately, it is not flexible enough to
handle modern calculations involving daily interest calculations,
prepayments, and other variations, but it can still be used to set up a
reasonably good estimated split between principal and interest with or
without escrow or insurance, but to keep an accurate running balance it is
usually necessary to manually adjust
each payment transaction in GnuCash when the payment is actually made to
reflect the actual values reported by the lender.
There have been many discussions over the years in the user maillist about
these shortcomings.
Many users, myself included, would appreciate work on improving this
assistant.
David Carlson
On Wed, Sep 16, 2020 at 10:01 AM Christopher Lam <christopher....@gmail.com>
wrote:
I think it has been renamed to Actions > Scheduled Transactions > Mortgage
& Loan Repayment...? Maybe it has hit a raw nerve with some wizards and
warlords.
On Wed, 16 Sep 2020 at 14:27, Dean Jagels <dpj-gc...@mhtsa.us> wrote:
There are a couple of old enhancement requests that refer to a "Mortgage
Repayment Druid." Is/was this a wizard of sorts? Does it still exist?
The House Mortgate How-To in the doc's makes no mention of such a thing.
Thanks,
Dean
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