2011-06-26 GnuCash IRC logs
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03:08:50 <OptimusPrimeTime> hello
03:09:00 <OptimusPrimeTime> I've been using gnucash for a few months now
03:09:13 <OptimusPrimeTime> and I've liked it so far
03:09:33 <OptimusPrimeTime> but I have a question regarding using gnucash to track my student loans
03:09:54 <OptimusPrimeTime> I have student loans that are about to enter repayment
03:10:25 <OptimusPrimeTime> and they've been in deferment for the last few years while I was still in school
03:11:08 <OptimusPrimeTime> but they accrued interest during that time which was not capitalized and will not be capitalized until they enter repayment
03:11:45 <OptimusPrimeTime> in other words, the interest hasn't been added to the principal yet, but has been accruing
03:12:00 <OptimusPrimeTime> I also made one payment on the interest a while ago
03:12:52 <OptimusPrimeTime> my question is, how do I show all this in gnucash?
03:14:23 <OptimusPrimeTime> I want gnucash to be able to calculate how much interest has accumulated so that I can match it to what my account statement says
03:30:38 <OptimusPrimeTime> Oh yeah, the interest rate also went down by a quarter of a percent when I enrolled for an electronic debiting program a few months ago, so I'll need to model that as well
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07:09:45 <Flakk> Hi [eople I have a very basic uestion about using gnucash. I am usually importing my banks statements to my home gnucash file via quicken files. then i need to match the accounts - and this is a time consuming procedure since the gnucash does not remember the names of transactions - more precisely it remembers only the entire names and the bank includes the date of the transaction to the name of the transaction - any help?
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12:44:11 <OptimusPrimeTime> another question occurs for a less complicated loan I'm trying to track...
12:44:29 <OptimusPrimeTime> is there any way to give gnucash a minimum payment amount?
12:45:11 <OptimusPrimeTime> also, is there any documentation for the pmt() function it spits out?
12:46:55 <warlord> pmt() is a standard financial computational function. I believe the docs are effectively the same as any other app that defines it, including OOo.
12:47:10 <warlord> As for "give gnucash a minimum payment amount", what does that mean?
12:47:31 <OptimusPrimeTime> the minimum payment for my loan is $40
12:47:38 <OptimusPrimeTime> how do I tell gnucash that?
12:48:43 <warlord> What is gnucash supposed to do with that number?
12:49:32 <OptimusPrimeTime> I'm trying to use the loan/mortgage scheduling assistant to schedule all of my payments
12:49:46 <OptimusPrimeTime> I expect $40 to be my actual payment on this loan
12:49:55 <warlord> yes, i understand that.. but, what are you expecting to happen with this "minimum payment"?
12:50:20 <OptimusPrimeTime> so I want gnucash to schedule the payments and calculate how much is paying off interest and how much is paying off principal automatically
12:51:09 <warlord> Right, ppmt() computes the principal, and ipmt() computes the interest. HOWEVER, it assumes a constant payment, and no over-payment.
12:51:34 <warlord> so there is no way to say "I'm going to pay $40 each month, compute how much is principal and interest"..
12:51:59 <OptimusPrimeTime> why not?
12:52:01 <warlord> All GnuCash can currently do is compute it based on original loan principal, interest rate, and loan length
12:52:05 <OptimusPrimeTime> that doesn't seem like it would be very hard...
12:52:15 <warlord> Patches always welcome.
12:52:40 <warlord> The hardest part is that there is no "balance-as-of-date()" function that you would need to compute the account balance in order to compute the actual interest
12:54:29 <warlord> the current SX implementation only does pre-computation of the amoritization table.
12:55:23 <OptimusPrimeTime> hmm
12:55:33 <OptimusPrimeTime> ok, I understand
12:59:13 <warlord> Like I said, patches are always welcome. It's been an oft-requested feature, so you would make lots of people very happy.
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