2020-10-04 GnuCash IRC logs

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05:07:08 <keiffer> @jralls Yes, I think that's exactly what's happening. The 'File|Open' dialogue reports the correct path but obviously the target is expanded.
05:07:08 <gncbot> keiffer: Error: "jralls" is not a valid command.
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07:06:28 <fixfix> Hello everyone
07:06:44 <fixfix> I'd like to manage a small personal loan with gnucash but I'm having trouble following the tutorials I find online
07:07:29 <Mechtilde> can you specify, where you have trouble to understand the tutorial?
07:07:40 <Mechtilde> fxfix .
07:07:46 <Mechtilde> fixfix, .
07:07:52 <fixfix> sure let me try to replicate my experience and I'll tell you about it in 5'
07:09:05 <fixfix> Mechtilde: should I read the "Getting Started" section before asking for help?
07:09:33 <fixfix> I tried to blindly follow the personal loan tutorial and didn't get it right, but maybe I should dedicat some time to learn the concepts first. Is that right?
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07:16:46 <fixfix> Well that's what I am doing. I'll get back to you
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10:38:01 <keiffer> jralls: I've perused the sqlite3 backend of my accounts file and understand why the full path is displayed...previously in v3 only the 'leaf' of the filename is saved as the associated file. V4, however, is using the full path in the format file:///Users/[username]/Box/Scans/[leaf-filename]; even though linked path should be relative to ~/Documents/Scans.
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12:30:08 <fixfix> Mechtilde: I am trying to set up my account
12:30:15 <fixfix> and I chose some of the templates
12:30:33 <fixfix> and one of the accounts is 'Education Loan Interest'
12:30:44 <fixfix> Now what is that?
12:31:14 <fixfix> am I to calculate how much I pay in interest in that month and enter it there?
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12:39:34 <fell> keiffer: that depends on Edit->Preferences->General->Path Head for Linked Files Relative Path.
12:41:27 <fell> The user preferences are stored by dconf on the local machine.
12:41:56 <fell> Perhaps there are different settings on your machines?
12:42:53 <jralls> fell, keiffer is on a Mac so preferences are stored by defaults (that's the name of the Apple program).
12:46:06 <fell> fixfix, you can use Tools->Repayment Calculator.
12:47:13 <fixfix> fell: I don't like that
12:47:20 <fixfix> It seems to be useful for a single loan
12:47:34 <fixfix> Is there no way to set up some loans and automatic payments and advance time X months?
12:48:38 <keiffer> Interestingly, when I edit the relative path parent in Preferences|General|Path Head, the path is expanded to the target path. Which would explain where the full expansion is coming from. However, the path was expanded on new associations since moving to 4.2. It's not a major problem. Just something to be aware of if I move the docs elsewhere, like if I move to another machine :-o.
12:50:05 <jralls> fixfix: The tool for setting up scheduled transactions is Actions>Scheduled Transactions>Mortgage & Loan Repayment.
12:50:20 <keiffer> Kind of why I was using the symlink because then the target path could be moved anywhere. Actually started down this rabbit warren because of migrating from Box Sync to Box Drive. Would obviously be something similar if moved the files to an alternative path.
12:50:29 <fell> fixfix, me too. How about Action->Scheduled Transactions->Scheduled transactions Editor?
12:51:36 <fixfix> I see
12:52:00 <fixfix> so I have to have a 'loan' account and then an 'interest' account that accrues with a scheduled transaction from the principal?
12:52:04 <fixfix> plus itself
12:52:07 <jralls> keiffer, When you change the relative path head GnuCash will find all of the doclinks beginning with the old path and change them to the new one.
12:52:34 <jralls> keiffer That's by default; it will pop a dialog box with options.
12:54:20 <fixfix> after I've scheduled transactions, how can I forward time to take a look at the state of my accounts in the future? Nevertheless, this also complicates payments. If each individual loan is an account, how do I 'script' the scheduled payments to be applied to the highest interest first
12:54:51 <fixfix> sorry for the flurry of questions...
12:55:07 <jralls> fixfix: You don't. It makes no sense to do so.
12:55:21 <fixfix> Looking at the future? Why not?
12:55:41 <jralls> No, scripting to order the payments by amount.
12:56:06 <fixfix> How do I manage multiple loans then?
12:56:16 <jralls> One SX for each.
12:56:25 <fixfix> I'd have to manually calculate how many scheduled payments each would take?
12:56:29 <fixfix> SX= ?
12:56:40 <jralls> Sorry, scheduled transaction.
12:56:58 <fixfix> but those should be 0 until the highest interest is paid
12:57:37 <jralls> You can if you want, or you can use the Mortgage and Loan Repayment assistant I mentioned earlier.
12:57:47 <jralls> What?
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12:58:12 <fixfix> jralls: I didn't notice that your suggestion was different than the SX suggestion
12:58:45 <fixfix> jralls: I am not sure of the loan terms, but I know that if you have 5 loans of various interests and you can choose which to pay first, you go for the highest interest
13:00:12 <jralls> fixfix, No, if you have 5 loans you have to make 5 payments.
13:01:37 <fixfix> jralls: okay. I must've been thinking of some period where you don't have to make a payment if you dont' want to
13:01:41 <fixfix> Education loans are like that, right?
13:01:57 <fixfix> During that period, if you are going to make a payment, you pay the highest interest loan first
13:01:57 <jralls> Like what?
13:02:02 <fixfix> What do you mean ?
13:02:35 <fixfix> If you're a student at college with 5 loans of varied interest, you don't pay the loans while you're at school. Interest accrues but you're not required to pay them before you graduate. Right?
13:02:51 <fixfix> btw in case it's not obvious I'm completely ignorant when it comes to finance
13:03:03 <fixfix> so bear with me please
13:03:09 <jralls> What's this "if you are going to make a payment"? If you don't make a payment you'll get your loan turned over to a collection agency and your life will be hell until you pay it off or commit suicide.
13:03:34 <fixfix> But did you read what I wrote?
13:04:12 <jralls> We crossed.
13:04:40 <fixfix> What does that mean?
13:04:52 <jralls> It means that we were both typing at the same time.
13:05:24 <fixfix> okay so it's clear now right. Anyway, I'm going to look at these tools, thank you
13:05:59 <codesmyt_> fixfix: I think you are referring to the 'debt avalanche' payment method: https://www.investopedia.com/terms/d/debt-avalanche.asp
13:07:02 <fixfix> codesmyt_: well put. It has no disadvantages when your required payment is 0
13:07:17 <fixfix> That is the case with (some?) student loans while you're in college
13:08:23 <fixfix> But thank you for bringing it to my attention. I had not realized this method has disadvantages. (To be frank, I had not realized that you need to pay off all 5 of your loans at the same time either)
13:09:13 <jralls> That would depend on the loans.
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13:10:49 <jralls> But the mortgage and loan repayment assistant isn't going to be of any help in that scenario, and unless you're able to make a consistent payment every period a scheduled transaction won't help much either.
13:11:14 <fixfix> Why not?
13:11:40 <fixfix> I need a tool where I can put down all the percentages and whatnot and be able to foresee what the loan will look like in the future
13:14:15 <fixfix> I guess that's called forecasting
13:14:20 <jralls> Pretty much everyone uses spreadsheets for that.
13:15:57 <fixfix> you mean by scripting it?
13:20:15 <jralls> Scripting isn't really the right word for spreadsheets. You enter formulas in cells that represent state for a period and copy that formula into cells representing each period that you want to forecast.
13:21:08 <fixfix> yeah but basically I'll have to multiply with percentages (or apply whatever exponential-like formula there is) to calculate interest in each cell right?
13:21:17 <fixfix> I have never used spreadsheets
13:21:36 <jralls> Knowing how to use them well is an important business skill. You should learn.
13:21:59 <fixfix> got it
13:22:45 <jralls> They have the interest functions built in so it's pretty simple. Few business people have the math skills to write those formulae by hand. ;-)
13:22:48 <jralls> BRB
13:23:04 <fixfix> heh
13:29:03 <jralls> You might check with your financial aid office to see if they have a template that will get you started.
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13:48:42 <keiffer> jralls: Thanks! Consequence of changing the relative path to the expanded path, and clearing the options in the dialogue box, has resulted in the new associations only storing the 'leaf' element of the full path in the database, as seen in the /assoc_uri/ records. 8-) Easy enough now to correct those with the full path.
13:50:42 <jralls> keiffer, OK. But can GnuCash still find the file?
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13:59:38 <keiffer> Yes. Because the file's physical location hasn't changed. It's still relative to the new path as defined in 'Preferences|General|Path head'. I've just confirmed by opening an association file "attached" whilst using v3. Also confirmed by removing the association link on a recent on only to re-link the file to that transaction. Raw value in the DB only shows the leaf. 8-). Thanks for helping me verify, and ensuring I'm safe, ;-)
14:01:18 <keiffer> *Very* useful to know that I only have to change the 'Path head' value if I move the files. Mind you, *all* the files will have to be moved!
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19:48:45 <Stupendous> Hello, is anyone available, I had a question about an OFX issue
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19:59:24 <Stupendous> I'll just put forth the the issue as compact as I can. I've been waiting quite a few versions for the OFX import feature to support version 2.0+ of the OFX spec, but it doesn't seem to be happening. Recently AMEX updated their OFX/QFX file format to 2.0.3 which adheres to XML standards more closely. I'm unable to import my transactions since "libofx-7.dll" appears to not support it. I'm not sure the naming scheme but I went to GitHub for "libofx"
19:59:24 <Stupendous> and if the -7 means version 0.7.0 then your OFX importer is from 2004.. that's terrible. The libofx has been updated about 19 times and the most recent is from Sept. 2019. The latest libofx does appear to support the new format and I was hoping this would be getting in to GnuCash Soon. Can anyone provide me with info regarding timing? or if anyone is even looking at this?
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