[Kmymoney] Re: loan wizard doesn't understand me - or vice versa :-)

[Thomas Baumgart]

Hi,

on Sunday 19 December 2010 12:08:45 graeme at baileynet.com.au wrote:

> I want to set up an asset - a house, but the wizard is producing
> the interest payments in reverse order than is correct ie
> larger interest payments at the beginning of the loan
> and smaller interest payments as the scheduled transactions are accepted

... which perfectly makes sense because you usually pay interest on the amount 
loaned and that gets less with each payment (as it also includes principal - 
well usually it does).

> I am definitely not an accountant
> 
> I love kmm and after ten years
> of frustration with quicken's upgrade antics I really want to get
> familiar with kmm -
> 
> all the features seem to work fine, I have entered a
> credit card without problem and done my bank accounts to the cent
> for the last couple of years
> 
> but the loan (mortgage) wizard seems bizarre
> it is calling the account a 'checking' account where I should be
> dealing with a set of paired asset and liability accounts?

Hm, it usually takes the checking account to pay the mortgage from. The payout 
transaction should go into the asset account.

> I have deleted all the transactions but can't delete the zero balance
> asset account or the zero balance liability loan account -

That might be caused by the existence of a scheduled loan transaction. Simply 
delete it and then you should be able to delete the accounts.

> I want to start again with this loan but obviously am missing something
> any help or hints greatly appreciated

Simply keep asking. Did you read the manual? Please take a look at 
http://kmymoney2.sourceforge.net/kde4/online-manual/details.loans.html where 
we have collected some information.

-- 

Regards

Thomas Baumgart

GPG-FP: E55E D592 F45F 116B 8429   4F99 9C59 DB40 B75D D3BA
-------------------------------------------------------------
On Windoze it helps to reboot, on UNIX it helps to be root!
-------------------------------------------------------------
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: application/pgp-signature
Size: 225 bytes
Desc: This is a digitally signed message part.
Url : http://mail.kde.org/pipermail/kmymoney/attachments/20101219/a2b254e1/attachment.sig