Re: Loan accounts
"Edward A. Melia, C.P.A./Attorney" <[email protected]> Wed, 31 Aug 2011 14:44:25 -0700
| Newsgroups | gmane.comp.finance.moneydance.general |
|---|---|
| Message-ID | <[email protected]> |
If cash basis it is not recorded until paid and then it is an expense. If accrual basis accounting it would be in the liability section for interest that is due but not yet paid. A subsequent payment offsets any recorded liability. You are on the cash basis. Ed Melia, Sacramento, CA On 8/31/2011 1:00 PM, John Sampson wrote: > Hello - > > Please excuse a possibly clueless question, but why is interest not > included > in the balance shown in a loan account? Should it appear elsewhere for > the sake of calculating one's total worth? > > Regards > > _John Sampson_ > _______________________________________________ > For Moneydance customer support, please visit > http://help.infinitekind.com > [email protected] > http://moneydance.com/mailman/listinfo/moneydance-info > _______________________________________________ For Moneydance customer support, please visit http://help.infinitekind.com [email protected] http://moneydance.com/mailman/listinfo/moneydance-info