Hi Alan, In case you or anyone else is interested, here is a brief example of offset mortgage - it is not uncommon in NZ but not sure what it's called in other countries or if it's even a thing:
An offset mortgage doesn’t affect the value of your savings. Instead, your > savings are deposited with the bank, and their value is ‘offset’ against > your mortgage balance. For example, if you have a $500,000 mortgage and > $20,000 in cash savings, you’ll only pay interest on $480,000. You won’t > earn in interest on the cash savings as you usually would while it’s part > of the offset mortgage. Source: https://www.moneyhub.co.nz/offset-mortgages.html As for the reporting issues using the asset/liability pairs, I guess technically the reports are accurate, but I have to keep remembering to deduct certain things - and that's when I start making mistakes or at least get really confused. Equities nearly never show up in any reports, so are a nice hack. So my Equity/Liability pair method <https://lists.gnucash.org/pipermail/gnucash-user/2024-August/112596.html> so far seems to be one possible solution to my problem. I *think* (or hope) I'm not abusing equites going by the fact that my net worth appears to be what I would expect, but I could certainly be wrong about that. I must admit I have avoided using Equities as much as possible because I am sure I don't fully understand how they are supposed to work. Cheers, Daniel S -- In the beginning Kibo created the Internet. Now the Internet was formless, and empty. Randomness was upon the face of computing, and the Spirit of ARPA moved upon the face of the computers. Then Kibo said, "Let there be data": and there was data. Kibo saw the data, and it was good, so Kibo divided the data from the randomness, and Kibo named the data Information, and the randomness Clueless. And the Information and the Clueless were the first Network. On Wed, Aug 7, 2024 at 3:54 AM Alan Johnson <a...@argentwolf.org> wrote: > I guess I don't understand what you mean by offset your mortgage. > > For the other things, things such as gifts and tithes, they would go into > a liability account against the expense category you choose for them. When > you pay / make the gift, you would transfer from your assett account > (checking, savings, etc) to the liability account to zero it out. > > The assett (cash) and liability (gift, tithe, etc) would appear opposite > each other on reports. > > Aug 6, 2024 03:20:24 Daniel Sheffield <d.j.yo...@gmail.com>: > > Thanks Alan, > > I wonder about the roll up figure on the accounts tab - I have heaps of > future transactions scheduled months in advance to help me forecast. > But that means the account tab never reflects the current balance. So I > can't use that to reconcile. > Unless there is a setting somewhere to show up to today only on the > accounts tab? > > I also wonder about obligatory fund (ie, promised gift, allowance) - the > 2nd Tithe is a big deal for me, I view it as a liability because I can not > spend it on just anything I like. It's essentially on loan to pay a bill in > the future. > Most people stick it in an external account. I'm not doing that so that I > can offset my mortgage. In a nut shell, I really can't have it factor into > my net worth because it's not my money. > Sort of like if you paid without taxes withheld and will have to pay at > the end of the year. Every time you get paid, you're increasing your tax > liabilities. > > The other funds, this notion is not so important, I can scrap the travel > money to pay the bills if I want - so your way could work for that... but > if I can find one way that works, that's even better. > > But sub accounts on my checking account seems to be the prevailing view... > probably for a reason... perhaps I should try harder... > > Cheers, > Daniel > > -- > In the beginning Kibo created the Internet. Now the Internet was formless, > and empty. Randomness was upon the face of computing, and the Spirit of > ARPA moved upon the face of the computers. Then Kibo said, "Let there be > data": and there was data. Kibo saw the data, and it was good, so Kibo > divided the data from the randomness, and Kibo named the data Information, > and the randomness Clueless. And the Information and the Clueless were the > first Network. > > > On Tue, Aug 6, 2024 at 5:24 PM Alan Johnson via gnucash-user < > gnucash-user@gnucash.org> wrote: > >> Daniel, >> >> I would suggest that you use the second savings account and it would help >> with the over spending. >> >> I think it would look something like this, please forgive formatting as >> I'm on mobile, but you should get the idea. >> >> Checking debit 10k / salary credit 10k >> >> Credit checking 1k / debit savings2 1k >> >> Credit savings2 500 / debit vacationfund [subaccount] 500 >> >> Credit savings2 500 / debit toyfund [subaccount] 500 >> >> Need money back in checking to spend? >> >> Debit savings2 300 / credit vacationfund 100 credit toyfund 200 >> >> Credit savings2 300 / debit checking 300 >> >> Your roll up of savings 2 in the accounts list will tell you the amount >> which should match the savings statement. There should also, in theory, be >> a very few transactions to reconcile, and it keeps the checking account >> clean. >> >> Alan >> _______________________________________________ >> 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. >> > _______________________________________________ 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.
