On 8/3/22 05:37, steve.schwa...@fastmail.com wrote:
Thanks for the background folks. I appreciate the effort and will do
the manual creation.
However, I'm hardheaded enough that I want get the transaction to work
within tolerances with a minimum of monthly intervention such as
editing or reading bank statements. I have to go on record that P&I
for July 2022 and May 2035 is more than simply fractions of pennies
from various calculation assumptions. I don't need that sort of
precision in tracking trends in my personal Net Worth reports.
Is there a man page of sorts for the various functions, pmt, ipmt,
ppmt? I'm sure one of the trailing zeros refers to whether payments
are due at the beginning or end of the period, but can't imagine what
the other may be. Meanwhile, I'll continue experimentation on my dummy
data. Like I said, hardheaded.
Steve
I found the details buried in the code. Look in these two source code
files:
./libgnucash/app-utils/calculation/fin.c
./libgnucash/app-utils/fin.scm
The '.' for me is at /home/steve/Projects/GnuCash/gnucash
where 'gnucash' is my copy of the git repository.
On 8/2/22 10:17, David Carlson wrote:
Steve,
I am not going to open your zip file, I imagine it is just
documenting the
fact that the P & I calculations don't exactly match your lenders'
statements, which is a known issue, unfixable since they all have
their own
way of calculating it. At least that was the case years ago when I last
set one up. Many of us, like Will, just accept the numbers as estimates
and correct them when we get the statements.
There has been some discussion in the history here about how to
massage the
equations when we want to 'start in the middle' for an existing loan,
for
example, but I am not sure how to find those.
I have done that to start a year in and to include extra $ for
principle. It is best to use LibreOffice Calc (Or Excel) to calculate
the monthly payment and number of months needed to fit your situation.
It has been several months and one of my loans is spot on each month.
The other one -- well, I'm wondering what the bank is smoking as it
flops around by a significant amount each month. I suspect they are on
a daily interest amount and since the number of days between payments
varies (US mail, # of days in month, pay early/late by a day or so) they
come up with numbers that make my head spin.
So, as some have suggested, I just wait for the statement to come out
and then I adjust the posted transaction. at least the payment amount
totals the same each month!
Here is the setup for my recent mortgage:
The 1326.35 is my total monthly payment.
.02990 is my annual interest factor.
i is the internal counter for the month of the loan. GnuCash controls
that number
360 is the total number of payments.
315,000.00 is the original loan amount.
Here is the one for my 5th wheel where some interest was prepaid up
front and they delayed the first payment so I'm adjusting the month
counter by -2 to get the numbers to be close enough. This is also the
one where I suspect they use a daily interest amount rather than
standard calculation as the numbers bounce around each month.
I have cc'd you direct just in case these two images being pasted
directly in don't make it via the list.
On Tue, Aug 2, 2022 at 8:47 AM William Prescott<w...@theprescotts.com>
wrote:
A slight variation on Steve's suggestion.
I made the mortgage payments a 'Scheduled Transaction' with some
nominal
values for principal and interest payments. Then, they were created
automatically, and I just edited them to get the amounts correct.
Will
On 2022 Aug 2, at 08-02 02:55:33, David T. via gnucash-user <
gnucash-user@gnucash.org> wrote:
Steve,
I expect others will give you ideas on how or what is mistaken on the
mortgage assistant.
I, however, am going to suggest a different approach, which is to
forego
using the scheduled transactions/mortgage assistant altogether, and
simply
enter the monthly payments manually.
The reason I suggest this is due to the fact that (as Michael Novak
often
reminds us on the list) your calculations and the bank's
calculations will
likely not match precisely, due to differences in base assumptions
on the
calculation. Because they won't match precisely, you'll end up
editing the
completed transactions. [For this reason, I truly wonder whether the
mortgage assistant is actually useful or should be included in the
program,
since it seems to cause more troubles than it solved. That's just my
opinion, however.]
If, instead, you enter the transactions manually, Gnucash will autofill
the transaction with the last entered values, and you can quickly
modify
the amounts to match the bank statement.
David T.
On August 1, 2022 11:59:06 PM
GMT+03:00,"steve.schwa...@fastmail.com" <
steve.schwa...@fastmail.com> wrote:
All,
Please help if you can. I think I've documented with the shots
required, but if you want to see something else, sing out. Somewhere
I am
missing a very basic concept. I'm trying to use the assistant to
create a
scheduled transaction. The file names describe each step. The file
and CoA
are dummies until I grasp this concept and move on to putting my
401kk of
MUFUs into the tool.
- I've used my current statement, due 1 July to match up a
amortization
website to show the P&I due on 1 July. Amounts and start dates in the
assistant are configured to match those amounts. Curiously, the
website and
my statement show a different remaining balance, but that is outside
the
scope.
- I step you through my assistant.
- In the end I show you the result of the assistant, which shows the
correct P&I. Escrow is wrong, but I'm sure I can fix that in the
editor.
I'll accumulate escrow each month and then schedule a payment from
escrow
asset to tax and insurance expenses once all the above works.
- I let GnuCash enter the created transaction (ignoring from birth of
the loan) and the transaction for 1 July 2022 is actually the P&I
for 1 May
2035.
TIA
--
Stephen M Butler, PMP, PSM
stephen.m.butle...@gmail.com
kg...@arrl.net
253-350-0166
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