3 ms·
The mortgage payments always confused me and that link has a good explanation of how it works. Have you used that code base in your own system or just the princ
by olsondv 9mo ago
The mortgage payments always confused me and that link has a good explanation of how it works. Have you used that code base in your own system or just the principles? I don’t know Haskell so not sure how much I can/need to modify.
- binarin 9mo agoYes, I'm using parts of this codebase. But Haskell is only being used as a build tool, so you can replace it with anything that you're comfortable with, like make, bazel, ...
- ekjhgkejhgk 9mo agoDo you want to share what's confusing about mortgage payments? You have a balance that accrues a monthly interest. Separately, you're told that you're owed a monthly payment. If monthly payment > interest, then the difference is subtracted from the balance. No need for haskell.
- davkan 9mo agoLoans can be confusing in double entry accounting for the uninitiated. On the accounting side you have liabilities:mortgage which would only include the principal. Then for an individual bill you have to debit liabilities:mortgage the principal portion and debit expenses:interest the interest portion. I’m not sure how mortgage bills usually come but for my auto loan the principal vs interest were not noted on the bill, so i had to calculate via apr myself for each payment for which the interest accrued daily. If i imported those payments from my bank statement or the bill i would not be able to enter the transaction correctly without doing the math. For calculating interest automatically upon entry based on the rate and payment amount and date I used python iirc as i used beancount, but that was a while ago.