Re: [GNC] Car loan with downpayment using a credit card
On Saturday, 5 January 2019 00:34:59 GMT Taymour A. El Erian wrote: > > Message: 5 > > Date: Thu, 3 Jan 2019 19:59:55 -0600 > > From: Adrien Monteleone > > To: Gnucash Users > > Subject: Re: [GNC] Car loan with downpayment using a credit card > > Message-ID: > > Content-Type: text/plain; charset=utf-8 > > > > When you imported transactions, were the downpayment(s) not part of that > > download? > > > > If so, how were they assigned on the other end of the transaction at > > import? > > > > Something that might help, if you aren?t already using it, is to turn on > > Transaction Journal view in the View menu. You can also set this as a > > default setting from Preferences. This will show you all splits in all > > transactions at all times. One split will always be for the current > > account > > register you are viewing, the others will be for the other side(s) of the > > transaction. > > > > For each downpayment, you should have something similar to: > > > > Cr. Assets:Checking OR Liabilities:Credit Card > > Dr. Liabilities:Car Loan > > > > Thus the three credit card payments would offset the Car Loan liability > > with increases (credits) to the respective Credit Card liabilities, and > > the > > Cheque would reflect a decrease (credit) in your checking account. > > > > Hope that helps. > > > > Regards, > > Adrien > > > > > > All the downpayments were part of the download, when I imported them I put > > them in Liabilities:CC. All CC settlements were matched to Assets:Checking > account and all that was before I added the loan and the car as an asset > Now all down payments made on the CC show under Liabilities:Car loan so > offsetting the car loan correctly but that is not the problem. The problem > is the car as Assets:Car. I put the total car selling price as an Asset and > I want to show the down payment but right now all CC payments show in > Liabilities and my Assets:checking is decreasing by the bulk amount of CC > settlement. Hi, If you've put the downpayments from the CC against Liab:CarLoan, then the initial opening balance of the Loan should be for the full value of the car. therefore the opening loan transaction should be to increase the asset account by the full value of the car. alternatively, re-book the CC transactions to Assets:Car, if the loan was only ever for part of the total value of the car. HTH, Maf. ___ 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.
Re: [GNC] Car loan with downpayment using a credit card
> > Message: 5 > Date: Thu, 3 Jan 2019 19:59:55 -0600 > From: Adrien Monteleone > To: Gnucash Users > Subject: Re: [GNC] Car loan with downpayment using a credit card > Message-ID: > Content-Type: text/plain; charset=utf-8 > > When you imported transactions, were the downpayment(s) not part of that > download? > > If so, how were they assigned on the other end of the transaction at > import? > > Something that might help, if you aren?t already using it, is to turn on > Transaction Journal view in the View menu. You can also set this as a > default setting from Preferences. This will show you all splits in all > transactions at all times. One split will always be for the current account > register you are viewing, the others will be for the other side(s) of the > transaction. > > For each downpayment, you should have something similar to: > > Cr. Assets:Checking OR Liabilities:Credit Card > Dr. Liabilities:Car Loan > > Thus the three credit card payments would offset the Car Loan liability > with increases (credits) to the respective Credit Card liabilities, and the > Cheque would reflect a decrease (credit) in your checking account. > > Hope that helps. > > Regards, > Adrien > > > All the downpayments were part of the download, when I imported them I put them in Liabilities:CC. All CC settlements were matched to Assets:Checking account and all that was before I added the loan and the car as an asset Now all down payments made on the CC show under Liabilities:Car loan so offsetting the car loan correctly but that is not the problem. The problem is the car as Assets:Car. I put the total car selling price as an Asset and I want to show the down payment but right now all CC payments show in Liabilities and my Assets:checking is decreasing by the bulk amount of CC settlement. ___ 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.
Re: [GNC] Car loan with downpayment using a credit card
When you imported transactions, were the downpayment(s) not part of that download? If so, how were they assigned on the other end of the transaction at import? Something that might help, if you aren’t already using it, is to turn on Transaction Journal view in the View menu. You can also set this as a default setting from Preferences. This will show you all splits in all transactions at all times. One split will always be for the current account register you are viewing, the others will be for the other side(s) of the transaction. For each downpayment, you should have something similar to: Cr. Assets:Checking OR Liabilities:Credit Card Dr. Liabilities:Car Loan Thus the three credit card payments would offset the Car Loan liability with increases (credits) to the respective Credit Card liabilities, and the Cheque would reflect a decrease (credit) in your checking account. Hope that helps. Regards, Adrien > On Jan 3, 2019, at 7:06 PM, Taymour A. El Erian wrote: > > Hi, > I am very new to GNUCash so bear with me. I have setup my assets (bank > accounts, Car) and also my liabilities (Car loan, Credit Cards) and > imported all the transactions from my banking institutions and credit cards > too. I added the Car (asset and loan) later to the setup and now struggling > to get the down payment made for the car to show under the asset. > I made the down payment using 3 different cards and a cheque. As I said I > added the car loan later after setting everything up and all accounts are > balanced. Now I am trying to get those few months old down payment > transactions to show as split under the asset so that my liability would be > (total value - down payment - payments). Any help > > > > *Taymour* > ___ > 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.
Re: [GNC] Car loan with downpayment using a credit card
On 1/3/19 5:06 PM, Taymour A. El Erian wrote: > Hi, > I am very new to GNUCash so bear with me. I have setup my assets (bank > accounts, Car) and also my liabilities (Car loan, Credit Cards) and > imported all the transactions from my banking institutions and credit cards > too. I added the Car (asset and loan) later to the setup and now struggling > to get the down payment made for the car to show under the asset. > I made the down payment using 3 different cards and a cheque. As I said I > added the car loan later after setting everything up and all accounts are > balanced. Now I am trying to get those few months old down payment > transactions to show as split under the asset so that my liability would be > (total value - down payment - payments). Any help > > > > *Taymour Car Transaction #1: Asset:Car: DR -- full price of car Liability:CC(s) -- CR amt put on card that totals to down payment Liability:Loans:Car -- CR loan amount. Asset:Car value = Liability:CC(s) value + Liability:Loan:car (original loan amt) [I would expect some expense accounts for licensing and other fees that would be part of this first transaction} Monthly payment transaction(s): Expense:Interest paid -- DR interest amount of payment Liability:Loans:Car -- DR payment principle amount Asset:Checking -- CR loan payment amount Credit card payoff transaction(s): Liability:CC(s) -- DR amount paid to each CC Asset:Checking -- CR amount paid to each CC Without checking with the house accountant <>, that's how I would set it up. --Steve -- Stephen M Butler, PMP, PSM stephen.m.butle...@gmail.com kg...@arrl.net 253-350-0166 --- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 pEpkey.asc Description: application/pgp-keys ___ 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.
[GNC] Car loan with downpayment using a credit card
Hi, I am very new to GNUCash so bear with me. I have setup my assets (bank accounts, Car) and also my liabilities (Car loan, Credit Cards) and imported all the transactions from my banking institutions and credit cards too. I added the Car (asset and loan) later to the setup and now struggling to get the down payment made for the car to show under the asset. I made the down payment using 3 different cards and a cheque. As I said I added the car loan later after setting everything up and all accounts are balanced. Now I am trying to get those few months old down payment transactions to show as split under the asset so that my liability would be (total value - down payment - payments). Any help *Taymour* ___ 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.
