Budgeting vs Loan accounts
Posted: Wed Jan 03, 2018 6:24 am
Hi all,
I'm trying to set up budgeting in MMEx 1.3.3. In general things are working as I expect them to work for a simple budgeting application but it looks like I'm missing something on a proper way to track a loan and plan a budget for its repayment.
My current setup for tracking a loan is to have a "loan" account with negative initial balance set to the full amount of credit I have to repay to the bank excluding the interest. Each time a payment is done bank split it into two parts one being an interest earned by the bank and rest being a partial repayment of the debt. In MMEx I track this as two transactions: a transfer from another bank account into loan account and a withdrawal of the interest by the bank from the loan account. This way I'm able to track the debt left to repay at any given moment.
But it looks like this scheme does not fit well into the budgeting tool available in MMEx. From the "reality" PoV each payment I do for this credit is a withdrawal but as I track it by means of a "transfer to the loan account" it is not reflected in any way in the budgeting tool.
Could anyone advice me on how to deal with this situation in a more convenient manner so it would be possible to both track the amount left to repay for the credit and to plan and execute the budget in the budgeting tool?
Thanks in advance.
I'm trying to set up budgeting in MMEx 1.3.3. In general things are working as I expect them to work for a simple budgeting application but it looks like I'm missing something on a proper way to track a loan and plan a budget for its repayment.
My current setup for tracking a loan is to have a "loan" account with negative initial balance set to the full amount of credit I have to repay to the bank excluding the interest. Each time a payment is done bank split it into two parts one being an interest earned by the bank and rest being a partial repayment of the debt. In MMEx I track this as two transactions: a transfer from another bank account into loan account and a withdrawal of the interest by the bank from the loan account. This way I'm able to track the debt left to repay at any given moment.
But it looks like this scheme does not fit well into the budgeting tool available in MMEx. From the "reality" PoV each payment I do for this credit is a withdrawal but as I track it by means of a "transfer to the loan account" it is not reflected in any way in the budgeting tool.
Could anyone advice me on how to deal with this situation in a more convenient manner so it would be possible to both track the amount left to repay for the credit and to plan and execute the budget in the budgeting tool?
Thanks in advance.