Your mortgage payment should be fixed, adjusting one a year for escrow review.
You can automate / enter a year's worth of payments from bank to mortgage account. You should also have a the 360 (or other) payment amortization table as part of your loan packet which shows you what each payment will be for Principal and Interest. Unless you are paying extra, you can just follow that to pre-enter your transactions. Alternatively, you can enter 12 mos of payments from bank, enter 12 mos of escrow (which should be fixed unless it adjusts) and approximate the interest and then reconcile with your statement. Interest will likely decline a few dollars each payment. When you get your bills for taxes and insurance, if they are escrowed, then you can enter/pay them out of the escrow asset account. On Thu, 2023-11-02 at 12:41 -0400, Jediator wrote: > One way to automate the bill generation would be to create a payment > plan in a spreadsheet. It should be fairly easy to calculate > principal > and interest in each installment in a spreadsheet, and convert that > spreadsheet in to csv format for bill generation in GC, and import > the > csv file to GC to populate the bills. You may have to create two > CSVs, > one with PMI and the other without PMI (i.e., when your principal > reaches 10% of your loan as in the US). > > On 11/2/23 9:00 AM, Michael or Penny Novack wrote: > > a) The amounts principal vs interest going to be changing each > > payment > > (if here in the US with amortizing mortgages). How to automate that > > not easy especially as the lender may have calculated the > > amortization > > table differently (chance you and they used same method very small) > > . > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All.
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