Change type of account

[Eric Watson]

I seem to have received this email in error.

Eric

On 04/06/18 23:10, Ian Millington wrote:
> 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.
>>
>>
>
>