Hello, I have been using GnuCash for almost 7 years now managing my personal finances. I am in no way a professional & I only have a basic understanding of accounting.
So, I have lent some of my money to a business (say XYZ) & to an agreed upon simple interest paid on a monthly basis. Principal amount stays constant. The interest payments go on until I request the principal amount be paid back to me. And I do record the transactions when the money is received. But the money is never received on the agreed upon date (1st of every month), so the interest amount which is due accumulates. I have a good understanding of how much money in the form of interest I have received (in GnuCash). All I need is the total amount due. The accounts I have for this are Assets:XYZ (The principal amount) Assets:Bank (Mode which gave the principal amount & receives interest) Income:Interest Income:XYZ Let's assume: Principal Amount: $2000 Rate of Interest: 2%/month Interest amount per month: $40 I can add an automatic schedule to an account, not sure to which account I should be doing that. As the interest due must reduce after I record a payment transaction. Right now, the interest amount is generated in "Income:Interest Income:XYZ" goes into either bank or cash. Your help is much appreciated. And I apologize if there is a similar question out there in the forums, I did try my best for a solution & didn't find it. Thank you, Narender -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ 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.
