The bank considers its loan to you as an asset, the fees and interest charges
to the loan account are income to the bank, so the offset account for the
bank for these transactions is an income account. These transactionsto the
asset :loan account of the bank will increase the value of their asset,
Your problem arises often. Sometimes it is not even handled correctly by
the financial institution. In the QIF import the same transaction will be
reversed when it is imported into the loan account compared to when it is
imported into the bank account IIRC.
I did not take Accounting in college,
Hi,
lebyarules via gnucash-user writes:
> hi all
>
> i have a very similar issue to a previous poster when i import my bank
> statement all is fine, but importing a loan account statement and dr and cr
> are reversed. so any payment towards the loan results in a bigger
hi all
i have a very similar issue to a previous poster when i import my bank
statement all is fine, but importing a loan account statement and dr and cr
are reversed. so any payment towards the loan results in a bigger loan. i
know i could just manually change them but i just wanted to confirm a