Sorry. I didn't really answer your second question. First question, why do you need to calculate the two interest figures separately? Does the fund manager do this?
As for calculating interest, you will find it fraught with difficulty. The likelihood that your calculations will match the institution's every time is extremely low. I gave up on that long ago, and instead enter such information from the statement. David On April 20, 2019, at 6:27 PM, D via gnucash-user <gnucash-user@gnucash.org> wrote: I track various such items on my own books. I probably wouldn't have separate accounts for the mandatory and the voluntary contributions; they are calculated as one. I would enter each contribution type as a separate split, though. That's how I've done it myself. For what it's worth, I enter employer contributions as separate income transactions; that way, I end up with a clear sense of the overall activity. I have an income account for employer contributions to keep them isolated. In my accounts, I have all of this in one asset account. As I see it, the interest on your P+Q, when added to the interest on your R, is the same as the interest on P+Q+R, unless the rates are different. Interest is income; you might as well get used to it. Interest accrued will be entered as income, going into the asset account. David On April 20, 2019, at 3:37 PM, Umakanth V S <sher...@gmail.com> wrote: Hi All, I have recently started using GnuCash to keep track of my personal expenses. I find it to be a great software and am still learning its features. This is my first post and it pertains to entering details of employer sponsored deductions from paycheck in GnuCash. I have read other posts related to the subject of paycheck, but could not find any that clarifies my doubts. We have a scheme called PF (Provident Fund), in which some amount is (mandatorily) deducted from the paycheck and credited to the PF. I can also make an additional (voluntary) contribution. The employer contributes an amount which also goes into this Fund. These contributions generate a compounded interest. Details as follows: Employee contrib (mandatory) = P Employee contrib (voluntary) = Q P+Q generates compound interest A P+Q+A = balance of employee contribution Employer contrib = R R generates compound interest B R+B = balance of employer contrib All taken together (P+Q+A+R+B) gives the total balance outstanding in the PF account. I have created the account structure as follows: Assets:PF Assets:PF:Employee_contrib:Employee_contrib-mandatory Assets:PF:Employee_contrib:Employee_contrib-voluntary Assets:PF:Employer_contrib:Employer_contrib I have created all above accounts as 'Bank' Account Type, because, if required, I can take a loan from this PF account. I have two issues: 1. I want to create seperate accounts for Interest earned for my contribution and employer contrib. I tried to do that as Income:Interest-Employee_contrib and tried to place it under the Assets:PF:Employee_contrib: location in the account tree. I am not able to assign it as an Income type. The available types are Bank,Cash,Asset etc . How do I do this or what category do I assign it? I would like both the Interest accounts to be under Assets:PF (and not under Income: )so that I can get a consolidated view of the complete PF account. 2. How do I set up auto calculation of the compound interest A & B for both the employee and employer contribution accounts? Thanks in advance, Umakanth _______________________________________________ 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. _______________________________________________ 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.
