So GnuCash doesn’t do this kind of thing? If it’s off by a cent or two, I can deal with it, but the problem is I use one credit line for multiple projects at a time, so I have to be able to easily work out the interest for each individual project.
Hal > On Dec 3, 2018, at 7:03 AM, David T. <sunfis...@yahoo.com> wrote: > > Hal, > > Most such calculations are devilishly difficult to represent with 100% > accuracy, which is why I have always opted to base my transactions on the > statement, rather than try to anticipate what the finance company is going to > come up with. > > David T > > > On Mon, Dec 3, 2018 at 12:10, Hal Vaughan > <hal@hal.dance> wrote: > For the past few years, for my business that is mostly about renovating or > restoring houses and reselling them (not flipping - this work takes time), > I’ve used a Python library I wrote myself to handle accounting. It was > basically made up mostly of stuff I had, with a few new things added in. > > I would like to switch over to GnuCash. Luckily, since I’m at a slow point > and between projects, I can do that without worrying about converting old > data for older LLCs and projects. > > There’s one issue I’m not sure can be handled by GnuCash, so I’d like to find > out about it before trying to switch over. > > I use a line of credit. Luckily the interest rate is basically constant. > (There’s a slight flux, but not much.) The problem is its compounded and, of > course, every time I withdraw money from the credit line or pay any back, the > principal amount changes. I’m hoping, at this point, people are saying, "Oh, > yeah, just do this…." > > But just in case there’s a need for clarification, if I withdraw $50,000 to > purchase a house on January 1, then, on the 15th, withdraw $10,000 for > roofing work, need to figure out the total owed to that credit line on 1/31, > and the interest rate is 3%, then I have to figure compound interest on > $50,000 at 3% from 1/1 to 1/15. Then I have to add $10,000 to that amount to > calculate the interest on the $50,000 plus 15 days of interest, plus $10,000, > plus the interest from the 15th to the 30th, at 3%, to get a clear number for > what I owe. > > Can I have this done automatically on an account? If not, how can I easily > keep track of this in GnuCash? > > > Thank you! > > > Hal > _______________________________________________ > 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.
