Change type of account

[Ian Millington]

Thanks for that Thomas

Given that the loan has been running for 2 years already I might be 
better keeping as I am. The loan is a car loan from my bank. The 
mechanics of it are that new bank account was set up from which the car 
purchase money was transferred to my current account, resulting in a 
corresponding debit balance in the loan account. Interest is applied 
monthly and standing order payments are made to it. I cover both of 
these in KMM by way of scheduled transactions, but have to edit the 
interest charge in KMM as the scheduled transaction is, of course, just 
an estimate.

On analysis the way I treat this within KMM pretty accurately reflects 
the mechanics as, apart from the interest charge, which can vary from 
month to month and is trending downwards, KMM deals with it perfectly. 
When looking at the loan option in KMM The thing that made me pause for 
thought was the question "who is the payee" to which the answer was the 
account itself! I therefore felt I might be complicating things 
unnecessarily.

So, thanks I now have a deeper understanding of how it all works but I 
think it best to stick with what I'm doing

Regards
Ian Millington
Created with Mozilla Thunderbird and Kubuntu Linux

On 04/06/18 10:18, Thomas Baumgart wrote:
> Ian,
>
> On Montag, 4. Juni 2018 00:37:31 CEST Ian Millington wrote:
>
>> Hi all. I have a loan account and am looking to have KMM auto-calculate
>> the monthly interest on it (I know the APR).
>>
>> Unfortunately due to ignorance when I set it up I did so as a current
>> account. It therefore appears as a negative balance under the assets
>> heading.
>>
>> Using the edit function I am unable to re-categorize it as a loan. Is it
>> feasible or is the answer simply to set up a new account and transfer
>> the balance to it?
> One cannot simply change the account type once it contains transactions. In your case, I would suggest to create a new loan account, set it up using the KMyMoney wizard. Select the opening date of the new account depending if you want to record all transactions from the start or some intermediate date (like first day of current year or so). In case you choose to record all transactions from the start, you might be able to move the transactions from your existing current account to the new loan account by using the 'Move transaction to' feature. Your mileage may vary depending on the way your recorded things so far.
>
> A good advice is to keep a backup of the current state of the file. This way, you can try whatever you want and fall back to a working state.
>
> Hope that helps.
>
>